Improved Commercial Land for Sale in Rapid City, Michigan
8528 Valley Rd NW Rapid City, MI 49676
Rare investment opportunity! This 16-unit apartment complex is nestled in a charming country setting, just 3.5 miles away from the renowned Torch Lake sandbar. Situated on a spacious 2.5-acre lot, this property is zoned commercial-improved, offering a myriad of possibilities for savvy investors. With all tenants on month-to-month leases and up-to-date on rent, the groundwork is laid for a smooth transition into ownership. More than 50% of the units have been remodeled, including cabinets, countertops, carpet, and fixtures. New roof installed approximately 2019. The property is serviced by a well and septic system, providing a cost-effective and reliable utility solution. Each apartment features separate electrical service meters and electric heating sources, ensuring convenience and efficiency for both tenants and landlord. A notable feature of this property is the recent installation of fiber optic connectivity at the road, enhancing its appeal in today's digital world. Additionally, amenities such as an office space and a laundry mat with hook-ups ready for your machines offer added value to this enticing offer. A significant advantage of this property is its history as a former motel, presenting a lucrative opportunity given the scarcity of similar accommodations near the Torch Lake sandbar. Don't miss out on the chance to own a piece of prime real estate this versatile property opens up endless potential for lucrative ventures.
Directions
From Rapid City to east on Valley Road - continue approximately 1 mile, property is on the left.
Property details
- County
- Kalkaska County
- Zoning
- Multi-Family
- Elevation
- 659 feet
- MLS Number
- TAAR 1922135
- Date Listed
Property taxes
- Year not provided
- $7,237
Detailed attributes
Listing
- Type
- Commercial
- Franchise
- RE/MAX International
Structure
- Roof
- Asphalt
- Heating
- Baseboard
Exterior
- Parking Spots
- 19
Interior
- Rooms
- Basement, Full Bath x 16
Listing history
Date | Event | Price | Change | Source |
---|---|---|---|---|
May 10, 2024 | New listing | $1,000,000 | — | TAAR |