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Detroil MI – 6 Commerical Buildings 10Cap SOLD

Category: Member Offerings

Here are 6 opportunities for you. Please add 3% for all brokers.  Details / Pictures of all of these for members

#1
Price – $2,515,000.00
152 units
60% occupied
Includings:  secured gated parking, walking distance to waterfront
$15,756 per unit
Bank owned
Proforma cap rate: 13.14%

#2

Building 2 is situated in downtown Detroit.
Walking distance to Comerica Park (Tigers Stadium), Ford Field (Detroit Loins), a people mover away to Joe Louis Area (Red W)ings), Fox Theatre, Greektown Casino, Blue Cross Blue Shield & GM headquarters.
Great view of the international fireworks and located on the border of the new extended boardwalk to the historical Eastern Market district. Across the street is a strip mall with all the conveniences. Surrounded by all upperscale condos, coops and apartments.

This complex is made up of 4 buildings each 2 stories.
Gated secured lighted parking
Outdoor pool
Park like setting
94% occupied
9.91% cap rate
68 -1 bedrooms and 24 -2 bedrooms units
Price: $3,150, 000.00
Seller negotiable, price was reduced.

#3
Seller motivated – $2.65million
Historical landmark,
granite spiral staircase
original woodwork and design
75% occupied
great condo conversion
secured lighted parking
hardwood floors in common areas and apartments
front view has view of the river
on main street
walking distance to all venues in downtown Detroit
leasing office
solid limestone building.
Building is beautiful.
Historical society offered to buy the original heating system for over $1M

#4

This building is $1.65mil in downtown Detroit on Main Street next to a Ford dealership and it needs totally rehabbing. Currently unoccupied 80 (1) bedrooms, secured parking lot. Priced at $20,625 per unit.  Other condo’s downtown are starting at $300,000.

This would be a project that will require a lot of work. A person could convert to condos on a lower scale offering affordability to those who can’t afford a $300k condo

#5

The seller is very negotiable with this 92 unit building that is 95% occupied.

The seller is willing to do a 5 year note with 10% down and will entertain an offer of $2.8mil.  The building was appraised in May 2007 by LaSalle Bank at $3.6mil, which is not that long ago and appraisers would go back as far as 12 months when appraising.  $800,000 instant equity.

This is the property in downtown Detroit across from the building that sold last week for $20.25mil and steps away from the boardwalk and walking distance to all the “happenings” in downtown Detroit.

#6

This building is situated in detroit in the hospital district. Very clean, very well maintained.
Carpeted common areas and hardwood floors in the apartment. This building is immaculate.
37 units (31-1 bdrm) 6 – 2 bedroom.
Total square footage 31,690
Price: $1.27mil
This building is located near Henry Ford Hospital and various new condos, nearby Main Street Woodward restaurants and behind the newly owned St. Regis Hotel.

Disney Hotel 47 plus 3

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