585 SOUTHFIELD Road Active Save Request In-Person Tour Request Virtual Tour
Lincoln Park,MI 48146
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $111
Subdivision Lincoln Park City
MLS Listing ID 20240089506
Year Built 1926
Annual Tax Amount $7,559
Lot Size 2,178 Sqft
Property Description
Prime Investment Opportunity in Lincoln Park! This high-visibility mixed-use property on Southfield Rd offers a projected gross annual income of $51,000 with low annual expenses of $9,300. The commercial storefront is leased for $1,500/month with 5 years remaining on the lease, while the residential units include a move-in ready 2-bedroom (projected at $1,000/month), a 1-bedroom being prepped for re-rental (projected at $800/month), and a 2-bedroom rented month-to-month at $1,000/month. Additional features include separate utilities for each unit, shared basement storage, and a history of passing annual city inspections. With solid income potential and manageable expenses, this is an outstanding opportunity for investors. Schedule your showing today!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Schools
School District Lincoln Park