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    68104-68074-680 Main Richmond, MI 48062

    Sponsored
    For Sale
    $1,200,000

    High-traffic location, redevelopment potential

    Property size:
    27,443 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity encompasses three commercial buildings totaling 27,443 square feet, situated on a 0.63-acre lot in Richmond, Michigan. Located on a high-traffic Main Street, this property boasts daily traffic exceeding 25,000 vehicles, ensuring unparalleled visibility and accessibility. The site's rural state highway location eliminates any risk of freeway rerouting, providing long-term stability. Richmond itself is a thriving community with over 25,000 residents, making this business district a central hub for services, shopping, and dining. The property's prime location and the community's growth trajectory make it exceptionally well-suited for redevelopment. Potential redevelopment projects could include a three-story mixed-use condominium development, incorporating retail or restaurant space on the ground floor and upscale condominiums above, addressing the increasing demand for residential and commercial space in Richmond. This presents a unique chance to capitalize on the area's natural growth and strong local economy. The potential for redevelopment grants further enhances the financial attractiveness of this rare investment opportunity, offering an incredible upside for the right developer. Don't miss this chance to shape the future of Richmond's business district.

    Property Features for 68104-68074-680 Main

    General Information

    Property type
    Investment properties
    Square Feet
    27,443 SF
    Lot Size
    27,443 SF

    Building Details

    Year Built
    1905
    Property Profile Location Intelligence

    Current Use by Public Records

    Investment properties

    Map

    City
    Richmond
    County
    Macomb
    State
    Michigan
    Longitude
    -82.764
    Latitude
    42.8187

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    FAQs

    What type of property is this?
    Investment property - High-traffic location, redevelopment potential
    Where is this investment property located?
    The property is located at 68104-68074-680 Main Richmond, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    (586) 949-8300
    Request Owner's contact information
    68104-68074-680 Main Richmond, MI 48062
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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
    68104-68074-680 Main Richmond, MI 48062
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