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,… Read More 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. Read Less
Courtesy of Brookstone, Realtors LLC, Tariq Herish, 248-963-0505.
Listing Snapshot
Days Online
192
Last Updated
Property Type
Commercial/Industrial
Square Ft.
3,968
Lot Size
0.28 Acres
Year Built
1952
MLS Number
50187515
30 Days Snapshot Of 48195
$132k
-26%
(avg) sold price
4
+300%
homes sold
20
-44%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Class B
Amenities
ADA Accessible, Bath, Cable Internet Installed, Cable TV Available, Carpet, Ceramic Floor, Electric Available, Fixtures, Floor Drain, Gas Available, Lawn Sprinkler, Living Quarters, Living Quarters Attached, Reception Area, Security Syetem Owned, Smoke/Fire Alarm
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