1014 N Wayne Road, Westland, MI Not Provided

Property Description

Investment opportunity at 1014 N. Wayne Road in Westland! This corner commercial property is currently occupied by a Jackson Hewitt tax preparation office, offering established rental income with approximately three years remaining on the existing lease.Current rent is $1,700 per month, or $20,400 annually, with a annual net operating income of approximately $15,400. At an asking price of $199,999, this represents an approximately 7.7% current capitalization rate based on existing income and expenses.Jackson Hewitt’s nationally recognized brand dates to 1982, bringing more than four decades of tax preparation history. The property features a corner setting with ample on-site parking and an updated interior. Improvements include electrical updates completed in 2021, newer flooring, newer drywall, and fresh paint.Previously operated as a hair salon, the building retains salon hookups from its prior use, offering potential future adaptability. The property is offered subject to the existing lease; future uses are subject to applicable approvals.An opportunity to acquire an occupied commercial property with existing rental income, national brand recognition, and recent improvements.Financial figures reflect current ownership expenses and existing property taxes. Buyer to verify financial information and lease terms.