15142 Joy Rd Detroit, MI 48228

This exceptional Detroit investment opportunity presents a 2,062 square foot mixed-use property located at 15142 Joy Road, Wayne County, MI 48228. The property, situated on a 0.05-acre lot (60 x 100 feet), features a blend of auto shop, traditional office, and warehouse space, offering significant versatility. Currently 60% occupied, it generates a substantial Net Operating Income (NOI) of $25,000 annually, resulting in a compelling 12.51% capitalization rate. The building, which boasts two stories, underwent renovations in 2022, including updated electrical, plumbing, and roofing systems, along with the addition of two new door bays. A separate efficiency apartment with its own entrance and utilities contributes to the property's income stream, currently generating $2,500 per month in rental income. The property includes security fencing and ample parking for up to 18 vehicles. The permitted zoning is Commercial, Light Industrial, Office, and Residential, allowing for diverse future development possibilities. This prime location, minutes from Dearborn, benefits from the area's thriving auto industry. The property's current configuration and strong income stream, combined with its potential for expansion and diverse usage, make it an attractive investment opportunity. The asking price is $199,900.