Ray MI Commercial for Sale
$425,000
21710 29 Mile Ray, MI 48096
- Type:
- Industrial
- Sq.Ft.:
- 3,752
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.65 Acres
- Year built:
- 1942
- Baths:
- MLS#:
- 50157924
- Subdivision:
- None
ADDITIONAL INFORMATION
Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. Huge lot would allow plenty of space for expansion. Will consider all reasonable offers!
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2024 MiRealSource. All rights reserved. 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. 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. Copyright 2024 MiRealSource. All rights reserved. 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.
Ray Real Estate
The median home value in Ray, MI is $402,000. This is higher than the county median home value of $222,600. The national median home value is $338,100. The average price of homes sold in Ray, MI is $402,000. Approximately 79.26% of Ray homes are owned, compared to 16.02% rented, while 4.73% are vacant. Ray real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Ray real estate agent to arrange a tour today!
Ray, Michigan has a population of 3,791. Ray is more family-centric than the surrounding county with 30.54% of the households containing married families with children. The county average for households married with children is 28.44%.
The median household income in Ray, Michigan is $109,250. The median household income for the surrounding county is $67,828 compared to the national median of $69,021. The median age of people living in Ray is 49.5 years.
Ray Weather
The average high temperature in July is 82.3 degrees, with an average low temperature in January of 16.7 degrees. The average rainfall is approximately 33.6 inches per year, with 32.1 inches of snow per year.