3710-3722 Elizabeth Lake Rd.

Office for Sale
Catylist Listing ID: 30039950
Property Subtypes: Mixed Use, Office Building
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: 11/9/2017

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.
• As ownership, there is the ability to improve rents as all tenant are either month to month or with leases expiring this year. Leases have been kept this way to provide owner/user the flexibility to use space as needed and lease the rest. Consequently an investor can improve current rental rates thereby improving one's overall investment.

Financials

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

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Lakes Area
Tax ID/APN: 13-26-176-029
Zoning: COMMERCIAL
Property Located Between: Cass Lake Rd. and Winding Dr.
Property Visibility: Good
Total Number of Buildings: 3
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

Contact

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