SELECT property_type FROM `mi_realcomp_properties` WHERE property_id = '2210068811'

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	Susan Lozano, SRES, ABR 248-283-8160  (d) ext 150 248-421-7313  (c) slozano@signaturesothebys.com		Property Details Back to Search Results   Pleasant Ridge COMMERCIAL PROPERTY LISTED AT $1,250,000   23900 Woodward Avenue Pleasant Ridge, MI 48069 MLS #: 2210068811 Status: Active Description: Year Built: 1937 Bldg Square Feet: 5100 Land Square Feet: 50x153x116x113 Zoning: Commercial Lease Price: Schools: Ferndale County: Oakland Tax: $ 14130 Ownership: Private Owned,Short Sale - No   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. Contact Information This property is presented online by Susan Lozano Contact Susan at 248-421-7313 or use the request info form. Displayed on susanlozano.signaturesir.com through MRIS multiple listing service. Listing courtesy of Signature Sotheby'S International Realty Bham