23900 Outer Dr - Parking Lots & Garages FOR SALE
Melvindale, MI 48122 |
$2,990,000 USD
678-735-1386
23900 Outer Dr
Melvindale, MI 48122
HIGHLIGHTS
- Seller Financing Available: Provides potential buyers with increased acquisition flexibility and below market interest rates.
- High Day-1 Yield: The property offers a very strong in-place return with an 8.2% going-in cap rate, providing investors with immediate cash flow on da
- Operational Upside: Current “mom and pop” ownership operates without management software nor advertising, presenting a clear opportunity to implement
- Extremely Dense Surrounding Demographics: Over 100,000 residents within a 3-mile radius. Over 300,000 residents in a 5-mile radius.
- Established Occupancy: The property has demonstrated historically strong occupancy levels, reflecting consistent tenant demand and operational stabili
- Minimal Competition: No direct competitors within a 7-mile radius, offering a unique advantage in the local market.
FOR SALE DETAILS
PRICE
$2,990,000 USD
PRICE/SF
$128 USD /SF
CAP RATE
8.21%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Enterprise Park Storage
PROPERTY TYPE
Specialty
PROPERTY SUBTYPE
Parking Lots & Garages
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
C
YEAR BUILT
1948
SPRINKLERS
-
PARKING SPACES
235
LAND DETAILS
LAND ACRES
7.01 AC
LAND SF
305,356 SF
ZONING
R1 1 FA
APN/PARCEL ID
47-011-06-0041-003
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
678-735-1386
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
678-735-1386
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
