Woodward Place is a mixed use commercial property consisting of 6 units. The property underwent a renovation and repositioning in 2018 with over $200,000 invested in capital improvements and renovations. The property provides $92,387 per year cash flow immediately upon purchase. Current average rental rate of the property is $1,590 that generates $9,500 of effective rental income per month. The property also offers the opportunity to add value and increase rents over time with exterior upgrades or complete development of the property. This area is highly sought after by developers looking to capitalize on the Woodward corridor's dense market and hyper growth. Market rents show with the addition of future upgrades and maintenance the property can see an annual increase of 5% rental rates, a rent increase of $480 per month and $5,760 annually.
This property is presented online by
Susan Campbell Johnson Contact Susan Campbell at 248-245-4675 or use the request info form.
Displayed on susanjohnson.signaturesir.com through MRIS multiple listing service. Listing courtesy of Signature Sotheby'S International Realty Bham
Sotheby's International Realty® is a registered trademark licensed to Sotheby's International Realty Affiliates, Inc.
Each Office is Independently Owned and Operated. Equal Housing Opportunity.
with the IDX logo are provided through Realcomp exclusively for consumers'
personal, noncommercial use and may not be used for any purpose other than
to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed. Contact agent for more
information and most current market data. Copyright 2012 Realcomp.