3231 Ray Rd - Residential Income FOR SALE


Fenton, MI 48430
$850,000 USD
734-459-7570
3231 Ray Rd, Fenton, MI for Sale
$850,000 USD
Residential Income - FOR SALE
1/11
null | 8.62% Cap Rate

3231 Ray Rd
Fenton, MI 48430


HIGHLIGHTS

  • 5 unit Apartment
  • 5,000 sq pole barn
  • Billboard and farming income

OVERVIEW

Five (5) unit apartment building on 21.59 acres with room for expansion. This property also has a 5,000 sq pole barn that has a concrete floor, electricity, spray foam insulation ($30,000), a bathroom, and an office. The pole barn is not rented and can provide extra income of approximately $2,500.00 per month. For additional income, there is also a billboard which currently receives $750.00 per month for one side and $4,500.00 per year for the other. In addition to that, this 21.59 acre property has approximately 1,385 feet of frontage on US-23, and approximately 20 acres for farming with income of approximately $900.00 per year. Some updates in the farmhouse include some new flooring, bathroom tile and paint. This is an excellent investment opportunity. All information is estimated and should be verified.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$90 USD /SF

CAP RATE

8.62%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Residential Income

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

-

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

21.59 AC

LAND SF

940,460 SF

ZONING

AG

APN/PARCEL ID

06-03-200-022

ASK ABOUT THIS PROPERTY

Joseph Van EsleyVan Esley Real EstateMore Info
734-459-7570

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Joseph Van EsleyVan Esley Real EstateMore Info
734-459-7570

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.