13450 dix toledo Road, Southgate, MI 48195

• 3,968 sqft

Property Description

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.

Listing Status:

Active

Listing Office:

Brookstone, Realtors LLC : 2489630505

Listing Agent:

Tariq Herish : 8104599217

MLS ID:

58050187515

Interior

• Flooring: CarpetCeramicTile
• A/C: Central airOther
• Heating: Radiant
• Disability Feature: Accessible entrance

Exterior

• Parking: Other

Construction

• Roofing: Shingle
• General: BrickSlab

Location

• Road/Access: Class b
• Originating MLS: MiRealSource
• School District: Southgate
• County: Wayne

Lot

• Zoning: 25C201 206 LOTS 201 TO 206 INCL DIX-TOLEDO HIGHWAY SUB T3S R10E L55 P94 WCR53009030201000

Utilities

• Utilities: Cable availableElectricity availableNatural gas availableUnderground utilities
• Water: Public
• Sewer: Public sewerSewer at street

Financial

• Source: MiRealSource

This listing courtesy of Tariq Herish, Brookstone, Realtors LLC