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$199,999
Est. payment /mo
785 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 785 sqft
Price per Sqft $254
Subdivision Wayne Marquette Sub
MLS Listing ID 20261086681
Year Built 1947
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type RealEstateOnly
Property Description
Investment opportunity at 1014 N. Wayne Road in Westland! This corner commercial property is currently occupied by a Jackson Hewitt tax preparation office, offering established rental income with approximately three years remaining on the existing lease.
Current rent is $1,700 per month, or $20,400 annually, with a annual net operating income of approximately $15,400. At an asking price of $199,999, this represents an approximately 7.7% current capitalization rate based on existing income and expenses.
Jackson Hewitt's nationally recognized brand dates to 1982, bringing more than four decades of tax preparation history. The property features a corner setting with ample on-site parking and an updated interior. Improvements include electrical updates completed in 2021, newer flooring, newer drywall, and fresh paint.
Previously operated as a hair salon, the building retains salon hookups from its prior use, offering potential future adaptability. The property is offered subject to the existing lease; future uses are subject to applicable approvals.
An opportunity to acquire an occupied commercial property with existing rental income, national brand recognition, and recent improvements.
Financial figures reflect current ownership expenses and existing property taxes. Buyer to verify financial information and lease terms.
Current rent is $1,700 per month, or $20,400 annually, with a annual net operating income of approximately $15,400. At an asking price of $199,999, this represents an approximately 7.7% current capitalization rate based on existing income and expenses.
Jackson Hewitt's nationally recognized brand dates to 1982, bringing more than four decades of tax preparation history. The property features a corner setting with ample on-site parking and an updated interior. Improvements include electrical updates completed in 2021, newer flooring, newer drywall, and fresh paint.
Previously operated as a hair salon, the building retains salon hookups from its prior use, offering potential future adaptability. The property is offered subject to the existing lease; future uses are subject to applicable approvals.
An opportunity to acquire an occupied commercial property with existing rental income, national brand recognition, and recent improvements.
Financial figures reflect current ownership expenses and existing property taxes. Buyer to verify financial information and lease terms.
Location
State MI
County Wayne
Area Area05081Westland
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Wayne Westland
Others
Senior Community false
Acceptable Financing Cash, Conventional, WarrantyDeed
Listing Terms Cash, Conventional, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
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Listed by Shane Parker of S&P Realty
NEARBY SCHOOLS & PROPERTIES
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