3180 N ADRIAN HWY (M-52)

3180 N ADRIAN HWY (M-52)

ADRIAN, Michigan 49221

| 1640 sq.ft. | Built 1957 | Commercial

Sold $250,000

Great investment property located across from MGR Theater on busy N. Adrian Hwy, (M52) in Adrian MI. Located approximately one mile from new ProMedica Regional Hospital site. 20 unit mobile home park, 18 units are owned by park (2 of which are in poor condition and not habitable) and 2 homes are tenant owned. Park is licensed for 25 units. Office and apartment are not currently part of the income stream.(vacant). Office building is approximately 75% vacant and could potentially be converted into an office or apartment. Existing apartment is occupied by onsite general maintenance person who receives complimentary rent in exchange for services. Cap rate is little more than 18%.

Essential Information

MLS#57031377664 | County: Lenawee

Property Features

Sewer: Sewer-Sanitary | Directions: Monroe Rd (M-50) to N. Adrian Hwy (M-52) south approx. 5.5 miles to property.

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