$420,000
$450,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
5,404 SqFt
SOLD DATE : 02/03/2017
Key Details
Sold Price $420,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,404 sqft
Price per Sqft $77
MLS Listing ID 216076075
Sold Date 02/03/17
Bedrooms 2
Originating Board Realcomp II Ltd
Year Built 1920
Annual Tax Amount $6,178
Lot Size 2,613 Sqft
Acres 0.06
Lot Dimensions 26X97X26X97
Property Description
EXCELLENT INVESTMENT OPPORTUNITY! This 5,404 SF Building is for sale in the growing community of South Lyon. The site sits less than five miles south of I-96 and about six miles east of US-23. The building is located in the heart of downtown South Lyon with great visibility. Positioned on the southwest corner of East Lake Street and South Lafayette Street, this building sees an average of almost 15,000 vehicles per day. The first floor is leased to Nita Alexa Hair Salon, and generates $2,477 of revenue each month, and the second floor has been recently renovated and holds two apartments. The first apartment is 800 SF and the second is 1400 SF, and generate $1,800 of income each month. The landlord is local and ready to make a deal!
NOI: $45,087 CAP: 9.52%
Location
State MI
County Oakland
Area South Lyon
Zoning Commercial,Office
Direction Southwest corner of Lafayette St. & Lake St.
Interior
Heating Forced Air
Heat Source Natural Gas
Exterior
Road Frontage Paved
Building
Foundation Basement
Sewer Shared Septic (Common)
Water Community
Level or Stories 2 Story
Structure Type Wood
Schools
School District South Lyon
Others
Tax ID 2129101008
Ownership Short Sale - No,Private Owned
SqFt Source Real Comp
Acceptable Financing Cash, Conventional
Rebuilt Year 2014
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Full Service
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