About 13450 Dix Toledo
Introducing a lucrative investment opportunity at HOLLYWOOD MOTEL, located at 13450 Dix Toledo Rd. Southgate, Michigan 48195. This 15-unit extended-stay motel, along with a manager's apartment, presents a chance for a high cap rate of 20.97% and a gross income of $196,000. Renovated just last year with $32,000 in upgrades, this fully licensed property boasts modern amenities including WI-FI, cable TV, and free parking. Situated in a prime location with 120 feet of frontage on a heavily trafficked road, the motel benefits from approximately 35,000 vehicles passing by daily. With an average weekly rate of $300-$325 and a strong surrounding demographic with an average household income of $84,000 within a mile radius, this property offers a solid income stream. Don't miss this chance to own a well-positioned hospitality asset in the bustling Detroit market.
Features of 13450 Dix Toledo
| MLS® # | 58050187515 |
|---|---|
| Price | $699,000 |
| Bathrooms | 0.00 |
| Acres | 0.28 |
| Year Built | 1952 |
| Type | Commercial |
| Status | Active |
Community Information
| Address | 13450 Dix Toledo |
|---|---|
| Area | 05146 - Southgate |
| City | Southgate city |
| County | Wayne |
| State | Michigan |
| Zip Code | 48195 |
Amenities
| Utilities | Cable Available, Electricity Available, Natural Gas Available, Underground Utilities |
|---|---|
| Parking | Other |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Radiant |
|---|---|
| Cooling | Central Air, Other |
| Fireplace | No |
Exterior
| Lot Description | Sprinkler(s) |
|---|---|
| Construction | Brick |
| Foundation | Slab |
School Information
| District | Southgate |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Brookstone, Realtors LLC |
|---|---|
| Contact Info | terry@theherishgroup.com |