3180 N Adrian Hwy (M-52)

    Adrian, MI 49221
    • $275,900
    • STATUS: Active
    • ON SITE: 24 days
    • MLS #: 31377664
    UPDATED: 23 min ago
    $275,900
    • 0
      BEDS
    • 2.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,640
      SQFT
    • $168
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1957
    County:

    School Ratings & Info

    Description

    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%.

    Monthly Payment Calculator



    ©2019 MiRealSource (Michigan Multiple Listing Service). All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial 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 is not guaranteed accurate by the MLS or The John Wentworth Group. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Data last updated: 2019-05-20T06:47:30.687.
    www.johnwentworthgroup.com/homes/94065591

    3180 N Adrian Hwy (M-52) Adrian, MI 49221

    • Price: $275,900
    • Status: Active
    • Updated: 23 min ago
    • MLS #: 31377664
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.3
    Acres
    1,640
    SQFT
    $168
    $/SQFT
    1957
    Built
    Neighborhood:
    Adrian (46025)
    County:
    Lenawee
    Area:
    Adrian (46025)
    Property Description
    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%.
    Exterior Features

    Frontage 393 Lot Size Irregular Site Depth 350 Waterfront YN No

    Interior Features

    Basement YN No

    Property Features

    Additional Documents YN No Assessments YN No Commercial Type Commercial/Industrial Encroachment YN No Environmental Condition YN No Financial Terms ConventionalLand Contract Inspection Complete For Well Septic Yes Lease YN No License Available YN Yes License Type Mobile Home Park Municipality Adrian Occupant Tenants Ownership Private Present Licenses Other-See Remarks SEV 146900 Sev Year 2018 Sewer Septic Public Sanitary Subject To Short Sale Approval No Summer Tax Amount 4175.11 Summer Tax Year 2018 Total Tax Amount 7127.61 Total Tax Year 2018 Township Adrian Charter Township Water Private Well Winter Tax Amount 2952.5 Winter Tax Year 2018

    Listing courtesy of Howard Hanna-Monroe.

    Source MLS: MiRealSource
    Originating MLS: Monroe County AOR MLS

    Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.


    ©2019 MiRealSource (Michigan Multiple Listing Service). All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial 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 is not guaranteed accurate by the MLS or The John Wentworth Group. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Data last updated: 2019-05-20T06:47:30.687.
     
    The John Wentworth Group
    2325 W Shiawassee Ave, Suite 204
    Fenton MI, 48430