15142 Joy RdDetroit, MI 48228

For Sale
$199,900

Detroit multi-use property, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Detroit investment opportunity presents a 2,062 square foot mixed-use property located at 15142 Joy Road, Wayne County, MI 48228. The property, situated on a 0.05-acre lot (60 x 100 feet), features a blend of auto shop, traditional office, and warehouse space, offering significant versatility. Currently 60% occupied, it generates a substantial Net Operating Income (NOI) of $25,000 annually, resulting in a compelling 12.51% capitalization rate. The building, which boasts two stories, underwent renovations in 2022, including updated electrical, plumbing, and roofing systems, along with the addition of two new door bays. A separate efficiency apartment with its own entrance and utilities contributes to the property's income stream, currently generating $2,500 per month in rental income. The property includes security fencing and ample parking for up to 18 vehicles. The permitted zoning is Commercial, Light Industrial, Office, and Residential, allowing for diverse future development possibilities. This prime location, minutes from Dearborn, benefits from the area's thriving auto industry. The property's current configuration and strong income stream, combined with its potential for expansion and diverse usage, make it an attractive investment opportunity. The asking price is $199,900.

Highlights

  • Three-parcel commercial property on a 60' x 100' lot in a prime Dearborn-area location.
  • Modern updates including new electrical, plumbing, and roofing, plus two new door bays.
  • Includes a separate upper efficiency apartment with private entrance and utilities, currently rented.
  • Generating $2,500/month in income from a detailing business and apartment rental.
  • Features security fencing and parking for up to 18 vehicles, with additional vacant space ideal for storage or expansion.

Property Details for 15142 Joy Rd

Property type
Other warehouses, Other retail properties
Square Feet
2,062 SF
Year Renovated
2022
Stories
2
Lot Size (sq. ft)
2,178 SF

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.3583975
Longitude
-83.1936493
15142 Joy Rd, Detroit, Michigan

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15142 Joy Rd
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