MI > Warren
Warren, MI 48093,32490 VAN DYKE AVE
Warren, MI 48093,32490 VAN DYKE AVE
Warren, MI 48093,32490 VAN DYKE AVE
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$1,600,000
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5,074 SqFt
Active

32490 VAN DYKE AVE Warren, MI 48093

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Ron Otto

Ron Otto

+1(989) 370-1245

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Key Details

Property Type Commercial

Sub Type BusinessandRealEstate

Listing Status Active

Purchase Type For Sale

Square Footage 5,074 sqft

Price per Sqft $315

MLS Listing ID 58050187507

Year Built 1950

Lot Size 0.630 Acres

Acres 0.63

Property Sub-Type BusinessandRealEstate

Property Description

Discover a lucrative investment opportunity at the King Richard Motel! This charming 19-unit extended stay motel, along with one apartment, is strategically located on Van Dyke Ave with 229 feet of frontage, ensuring high visibility to over 52,000 passing vehicles daily. Renovated in 2024 at a cost exceeding $100,000, this property boasts modern amenities and a refreshed look. The conversion to an extended stay concept has significantly enhanced revenue prospects, with a gross income of $300,960 and a net income of $243,056, offering an exceptional cap rate of 14.3%. Convenient land contract terms are available for this C-1 zoned property, offering 0.63 acres of potential in a bustling commercial area surrounded by established national retail brands. With ample parking, room for expansion, and a prime location near major retailers, the King Richard Motel presents a remarkable investment opportunity for aspiring hospitality entrepreneurs or seasoned investors.

Location

State MI

County Macomb

Area Area03131Warren

Interior

Cooling CentralAir, WindowUnits

Flooring Carpet, Vinyl

Fireplace No

Exterior

Parking Features Other

Utilities Available CableAvailable, ElectricityAvailable, UndergroundUtilities

View Y/N No

Roof Type Shingle

Building

Foundation Slab

Sewer Public Sewer, Sewer At Street

Water Public

New Construction No

Schools

High Schools Warren Con

School District Warrencon

Others

Acceptable Financing Cash, Other

Listing Terms Cash, Other

Special Listing Condition CorporateRelocation, ShortSaleNo

Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Tariq Herish of Brookstone, Realtors LLC

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Ron Otto

Ron Otto

Agent | License ID: 6501430575

+1(989) 370-1245

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32490 VAN DYKE AVE

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