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: 3/2/2018

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


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