For Sale
$425,000

21710 29 Mile Rd Ray, MI 48096

High-yield investment, prime location

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional commercial property in Ray Township, Michigan, presents a unique investment opportunity. Situated on a 0.65-acre lot at 21710 29 Mile Rd, 48096, this two-story building offers a versatile mix of commercial and residential space. The lower level, spanning 1876 square feet, is currently used as living quarters but is easily adaptable for various commercial uses, including retail, office, or storage. Upstairs, two spacious apartments, each measuring 938 square feet, feature two bedrooms and one bathroom, providing a steady stream of rental income. Each unit boasts a private entrance. The property benefits from high visibility and traffic counts, making it ideal for entrepreneurs. The current rental income is below market average, suggesting significant potential for increased profitability and a cap rate of 8% or more. The large lot size allows for future expansion. A land contract is available, and all reasonable offers will be considered. This property offers a compelling blend of income generation and future development potential.

Highlights

  • $425,000 asking price.
  • 0.65-acre lot in Ray Township, Macomb County, MI.
  • Industrial property with warehouse and commercial subtypes.
  • Three-unit building: two 938 sq ft apartments and one 1876 sq ft commercial space (currently residential, easily convertible).
  • High traffic, high visibility location.

Property Details for 21710 29 Mile Rd

Property type
Warehouses, Land
Lot Size (sq. ft)
28,314 SF

Location Insight

City
Ray
County
Macomb
State
Michigan
Latitude
42.7612563
Longitude
-82.9036461
21710 29 Mile Rd, Ray, Michigan

FAQs

What type of property is this?
Warehouse - High-yield investment, prime location
Where is the warehouse located?
The property is located at 21710 29 Mile Rd Ray, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: $425,000 asking price.; 0.65-acre lot in Ray Township, Macomb County, MI.; Industrial property with warehouse and commercial subtypes.
How can I contact the broker?
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21710 29 Mile Rd
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