1723 S Van Dyke Road, Bad Axe, MI 48413
1723 S Van Dyke Road, Bad Axe, MI 48413
1723 S Van Dyke Road, Bad Axe, MI 48413
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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134
$375,000
Est. payment /mo
3,840 SqFt
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 3,840 sqft

Price per Sqft $97

Municipality Colfax Twp

Subdivision Colfax Twp

MLS Listing ID 20261038882

Annual Tax Amount $8,918

Lot Size 23.450 Acres

Acres 23.45

Lot Dimensions 700 x400

Source Realcomp

Property Description

Bad Axe 27 mobile homes total, including the site manager's home.$300,000 Below Appraised Value |27-Unit Residential Income Portfolio | Offered at $375.000, This stabilized residential income portfolio comprises 27 single-mobile home residences on 23 AC properties. Running at 80% occupancy under continuous professional management, the portfolio generates $4000 in gross monthly rents — $4800 annually. At a standard 30% expense ratio, estimated NOI lands at approximately $30000, placing this offering at an 8.0% cap rate on the ask price not including the vacancy. To put that in perspective: you're buying a sub-9-cap asset for a 10-cap price.

Location

State MI

County Huron

Zoning Commercial

Direction off van dyke

Interior

Heating Forced Air

Exterior

View Y/N No

Building

Water Well

Structure Type Other

Schools

School District Bad Axe

Others

Tax ID 0602802700

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Listed by Real Estate One-Troy

Nearby School & Business

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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134

Team Leader, Broker | License ID: 6506047709

Team Leader, Broker License ID: 6506047709

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  • Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!
    Gordon L
  • Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!
    Emily Rzeszutko
  • Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!
    Kayla Kocal
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