131 E Walled Lake $374,900

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    131 E Walled Lake Walled Lake, MI 48390

    • 3,900 sq.ft.
    • Commercial
    MLS# 219035928 | Active

    $374,900

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    Days On Market: 56 0 Views
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    Property Details

    REMARKABLE INVESTMENT OPPORTUNITY*** 2 RETAIL/OFFICE SPACES ON MAIN FLOOR CURRENTLY LEASED WITH MULTIPLE YEAR LEASES - ONE 3 YEAR LEASE AND ONE 5 YEAR LEASE***EXCEPTIONAL RENTAL HISTORY ON THE 4 RENTAL APARTMENTS ON 2ND FLOOR: 2 ARE ONE BEDROOM UNITS AND 2 ARE EFFICIENCY UNITS AND ARE ALSO FULLY LEASED ***MODEST LEVERAGE AT CURRENT INTEREST RATES WILL PROVIDE EXCEPTIONAL RETURN ON EQUITY**ACROSS THE STREET FROM BEACHFRONT PARK AND POPULAR LAKEFRONT RESTAURANT***NOTE: TENANTS NOT TO BE DISTURBED!***LISTOR TO ACCOMPANY ALL SHOWINGS PLEASE NOTE: ADDRESS THROUGH TAXING RECORDS 131 E WALLED LAKE DRIVE - ADDRESS THROUGH UTILITY COMPANIES AND USED ON THE BUILDING 123 E WALLED LAKE DRIVE (INSURANCE OFFICE), 125 E WALLED LAKE DRIVE (4 APARTMENT TENANTS 2ND FLOOR), 127 E WALLED LAKE DRIVE (REAL ESTATE/MORTGAGE OFFICE)

    • General Features
      • County Or Parish Oakland
      • Settlement City
      • Subdivision Suprvr's Plat No 2 - Walled Lake
      • Commercial Type Apartments, Commercial
      • Business Type Office, Residential, Retail, Service
      • Current Use 4 APARTMENTS AND 2 BUS.SPACES
      • Lot Size Area 0
      • Zoning Commercial, Multi-Family, Office
      • Ownership Status Private Owned, Short Sale - No
      • Originating MLS Realcomp II Ltd
      • Year Built 1920
      • Year Remodeled 1998
      • Sqft Total 3,900
      • Number Of Units Total 4
      • Operating Expense $19,575
      • Net Operating Expense $40,150
      • Gross Scheduled Income $59,775
      • Tax Amount - Summer 4847.0000
      • Tax Amount - Winter 99.0000
    • Building Features
      • Foundation Details Basement
      • Construction Materials Brick, Wood
      • Sqft Office 1,950
      • Office Heating Baseboard, Central Air, Forced Air, Window/Wall Unit
      • Unit One Bed Number Of 2
      • Unit Two Bed Number Of 0
      • Unit Three Bed Number Of 0
    • Property Features
      • Commercial Utilities Cable TV, Smoke Alarm
      • Road Frontage Type Paved, Pub. Sidewalk
      • Frontage Feet 37
      • Distance To Airport 25
      • Distance To Interstate 5
      • Waterfront Name Error: ClassID in tblMLSFieldPropertyType is null.
      • Lot Size Dimensions 37 X 63
      • Water Source Municipal Water
      • Sewer Sewer-Sanitary
    • Schools
      • School District Walled Lake

    Contact

    Robyn Lewis

    Associate Broker, ABR, CNE, CRS, SRES

    RE/MAX Classic

    Mobile Phone: 248-342-6792

    Neighborhood

    48390 (Walled Lake) Demographics

    42Median Age
    1,875Population Density (per sq. mile)
    48%College Educated
    $70,079 Estimated Median Income
    7,480Estimated Total Home Owners
    2,628Estimated Total Renters
    74% / 26%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    23,484Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $255,000 Median Sales Price
    1 Homes Sold
    76 New On Market

    Average Days on Market

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        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $374,900
        4/22/2019 3:43:00 PM New in Database Source

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        Listing information is provided through IDX through RealComp II Ltd. All information is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2019 Realcomp II Ltd. Shareholders.