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
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    Views: 861 Days On Market: 436

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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 2
      • 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
    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 2020 Realcomp II Ltd. Shareholders.


    Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.

    Neighborhood

    48390 (Walled Lake) Demographics

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

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    140 New 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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