628 E Parent Ave - Office/Residential FOR SALE


Royal Oak, MI 48067
$3,200,000 USD
989-245-2233
628 E Parent Ave, Royal Oak, MI for Sale
$3,200,000 USD
Office/Residential - FOR SALE
1/15
null | Request Cap Rate

628 E Parent Ave
Royal Oak, MI 48067


HIGHLIGHTS

  • Updated building offers an excellent investment or owner/user opportunity in a vibrant, high-traffic area, accessible directly off I-696.

OVERVIEW

Located in the heart of Royal Oak, Michigan, 628 E. Parent offers an excellent investment or owner/user opportunity in a vibrant, high-traffic area, accessible directly off I-696 via the Bermuda exit. The property consists of 2 residential units, 20 short-term, small office suites, and 6 vacant suites (with room to push on rent). The current rent collected on a monthly basis is +/- $25,000 on a gross basis. There is also flexibility on lease expirations in the event a user/buyer wants to occupy the building, as all are 1 year or less, and many are month-to-month. This well-positioned property is surrounded by a mix of residential and commercial developments, making it an ideal location for a variety of commercial and residential uses, and walkable to downtown Royal Oak. Flexible with opportunity to sell residential/office together or separately.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$225 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1942

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

Mixed Use 1

APN/PARCEL ID

25-22-377-010

ASK ABOUT THIS PROPERTY

Megan ZurvalecColliersMore Info
989-245-2233

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Megan ZurvalecColliersMore Info
989-245-2233

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.