3 Building Portfolio Investment Sale

Office for Sale
Also listed as Retail-Commercial, Industrial
Catylist Listing ID: 30039950
Property Subtypes: Mixed Use, Office Building, Other
Building Size (RSF): 8,800 SF
Gross Building Area: See Agent
Gross Land Area: 2 Acres
Sale Price: $585,000
Unit Price: $66.48 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class C
Sale Terms: Purchase Money Mortgage, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/21/2018

Overview / Comments

• This property is situated on a 2 acre parcel with 3 majority-leased buildings.
• 3710 Elizabeth Lake Rd. is a 2-story structure totaling 3,000 sq. ft., with walk-out lower level, and currently houses Scott Lock & Key.
• 3720 and 3722 Elizabeth Lake Rd. is a 2 story building with 1,800 sq. ft. on each floor and currently houses a tanning studio on the upper floor and multiple counseling offices on the lower floor. Each floor has a separate entrance.
• 3714 Elizabeth Lake Rd. contains a landscape business yard with a 2,200 sq. ft. building housing the landscape business.
• In addition, the property has contractor yard storage.
• A new owner has the ability to immediately improve rents as many long term tenants are on month-to-month lease term. Leases have been kept this way to provide a new owner/user the flexibility to use space it needs and lease the rest. Consequently improving the overall investment..


Finance Data Year 2016
Real Estate Taxes - Annual($) $12,442 (Annual)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Lakes Area
Taxing Authority: Waterford Township
Tax ID/APN: 13-26-176-029
Property Located Between: Cass Lake Rd. and Winding Dr.
Property Visibility: Good
Total Number of Buildings: 3
Number of Stories: 2
Typical SF / Floor: 1,500 SF
Year Renovated: 2017
Parking Type: Surface
Total Parking Spaces: 35
Zoning Description: Commercial, Single Tenant Industrial and Freestanding Commercial Retail

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,162 79,326 180,197
Median Age: 36.5 37.78 38.96
Households: 5,133 32,085 70,518


The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.