10-12% Cap.OFF-MARKET 6,000 Sq.Ft. Retail Space - Eastpointe, MI.
Price: $170,000 -- Open to terms.
Cap Rate: 10-12%
Currently Vacant
Building Size: 6,000 Sq. Ft. ---- Able to separate into 3 units.
Rent: 3500-4000/mo
Year Built: 1970
Updated Electric
PRICED TO SELL
ARV: 210-225k
With a couple small things to fix (drywall, interior paint, drop ceiling panels and light fixtures) this retail space comes with 40k equity! I know we don't like to speculate on appreciation, however people in this market seem to agree that Eastpointe is on the rise.
In the pictures, you'll see the drywall was taken down for mold remediation. There was a leak in the roof. Previous owner had the roof repaired and mold remediation done just in case. No mold was found and all repair paperwork can be shown.
Offering