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    32490 Van Dyke Ave Warren, MI 48093

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    For Sale
    $1,600,000

    Renovated 19-unit motel with high visibility and income potential.

    Lot size:
    0.63 Acres

    Property Features for 32490 Van Dyke Ave

    General Information

    Lot size
    0.63 Acres

    Building Details

    Year built
    1950

    Source: Brookstone, Realtors LLC Agent Tariq Herish

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    King Richard Motel Investment Opportunity

    The King Richard Motel presents a significant investment opportunity. This property features 19 units, designed for extended stays, and one apartment. Situated on Van Dyke Ave, the motel benefits from 229 feet of frontage and high visibility, with over 52,000 vehicles passing daily. The property, zoned C-1, occupies 0.63 acres in a busy commercial area near established national retail brands. Recent renovations in 2024, exceeding $100,000, have modernized the motel. The conversion to an extended stay model has improved revenue, with a gross income of $300,960 and a net income of $243,056, resulting in a 14.3% cap rate. Ample parking and room for expansion are available. Land contract terms are available.
    Insight Report Location Intelligence

    Current Use by Public Records

    King Richard Motel Motel

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Breakout Escape Rooms Warren, Econo Lodge, Americas Best Value Inn & Suites Warren Detroit, Sonesta Simply Suites Detroit Warren, TownePlace Suites Detroit Warren

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.028735
    Latitude
    42.533711

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    FAQs

    What type of property is this?
    Motel - Renovated 19-unit motel with high visibility and income potential.
    Where is this motel located?
    The property is located at 32490 Van Dyke Ave Warren, MI.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - High 14.3% Cap Rate based on a net income of $243,056.; - Renovated in 2024 with over $100,000 invested.; - Gross income of $300,960 from 19 motel units and 1 apartment.
    (810) 459-9217
    Request Owner's contact information
    32490 Van Dyke Ave Warren, MI 48093
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    Warren, MI 48093
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    32490 Van Dyke Ave Warren, MI 48093
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