6575 E McNichols Av, Detroit MI 48212

Sold with clear title – No liens or back taxes

Retail/ Hospitality/ Services

 Unique Opportunity to buy your own restaurant for a low initial outlay.

Currently vacant- Needs a full rehab.

Excellent investment opportunity- Also suitable for owner occupier.

Free-standing restaurant with parking, Drive-Thru and excellent road frontage and visibility. Former Coney Island restaurant

2,429 sq ft building needing a full rehab. Parking for about 16 cars.

Land area: 6,186 sq ft

Located in a good location with excellent road frontage and visibility near industrial area close to Coleman Young International Airport and about 4 miles from Downtown Detroit

Could be a great money spinner near a lot of factories and industries

Suitable for owner user or as an investment with excellent rental income:

Similar properties are renting out for $6.00 Sq ft/year (costar.com), so once rehab is completed this property can produce a gross rental income of $14,500/year

Sold AS IS, WHERE IS

Buyer will be responsible for a $500 ‘deed prep and doc fee’ and a 7.5% premium.

Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.

10% non-refundable deposit (minimum $1,000) and $500 ‘deed preparation fee’ to be paid within 48 hours of auction close.

Final Payment to be made within 14 days of the Auction close

PROPERTY IS SOLD AS IS, WHERE IS - Clear title with title insurance and no liens or back taxes. Closing will be handle by a title company.

Estimated Annual Tax: $2,791 (Tax ID: 15-003349-50)

All bidders to do their own due diligence. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property. Deeds will be prepared and sent by the title company to the Register of Deeds for recording on closing.