Homes for sale - 29222 GRAND RIVER Avenue, Farmington Hills, MI 483...

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Chris Hubel

chris@chrishubel.com +1(248) 568-6030

$ 1,750,000

Est. payment -/mo

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29222 GRAND RIVER Avenue Farmington Hills, MI 48336

9,388 SqFt

UPDATED:

09/09/2024 03:03 AM

Key Details

Property Type Commercial

Sub Type Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 9,388 sqft

Price per Sqft $186

Subdivision Assr'S Richland State Sub

MLS Listing ID 20240019473

Originating Board Realcomp II Ltd

Year Built 1950

Annual Tax Amount $15,500

Lot Size 0.310 Acres

Acres 0.31

Lot Dimensions 164 X 105 X 100 X 116

Property Description

Welcome to an Investor's Dream Building! This is your opportunity to own a mixed use 9-Unit Apartment Building with an additional 5,400SF Commercial Space on the 1st floor. The 9 apartments on the 2nd floor are all 1-bedroom, 1-bathroom units with kitchens, and small living rooms. The apartments are all heated via a steam-based boiler system with one of two boilers recently replaced in 2023. Hot water for the apartments is serviced by two brand new hot water tanks replaced in 2023. The 1st floor commercial space has been fully gutted with newly installed steel studs and is ready for the next owner or a new market tenant to complete the build out. 1st floor Commercial space is serviced by a furnace and has central air conditioning. Architectural plans and MEP drawings available for the next owner or tenant of the 1st floor commercial space. Garage Door in the rear gives direct access to the commercial space, perfect for a service-based tenant needing to load and unload trucks and equipment. Secondary garage space, accessed from the exterior-only, provides the owner with private, locked storage. Next door to the Farmington Hills Fire Department, and close proximity to many major roads and highways including Middlebelt and M-5. 2/3 of flat roof was replaced in February 2024! Sellers intended to occupy 1st floor, but are relocating business headquarters further south/west. LL pays water & sewer, trash, and natural gas. Most tenant's pay electric (separately metered). Bring your ideas to this Value-Add Investment Opportunity, and achieve some serious cash flow potential!

Location

State MI

County Oakland

Area Farmington Hills

Zoning Commercial,Multi-Family

Direction Follow Grand River Avenue West Towards M-5, Building will be on the Right Hand Side before Middlebelt Road.

Interior

Hot Water Natural Gas

Heating Steam

Exterior

Road Frontage Paved

Building

Foundation Slab

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 1 Story

Structure Type Block/Concrete/Masonry,Stone

Schools

School District Clarenceville

Others

Tax ID 2336302008

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Conventional, Warranty Deed

Listing Terms Cash, Conventional, Warranty Deed

Financing Cash,Conventional,Warranty Deed

Special Listing Condition Full Service

Listed by Nayeem Amin of Max Broock, REALTORS®-Birmingham