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    21599 Parke Ln Grosse Ile Township, MI 48138

    For Sale
    $650,000

    Prime 6.6-acre residential land parcel.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 6.6-acre property in Grosse Ile Township, Michigan (Wayne County, zip code 48138), presents a unique development opportunity. Located at 21599 Parke Ln, this heavily wooded parcel boasts existing utilities and offers significant potential for various residential projects. The land is comprised of multiple sections that can be purchased individually or as a whole. One section includes a 2.8-acre former baseball field, ideal for potential apartment or condo development. A separate 6-acre wooded area is also available, suitable for a variety of residential uses. Additionally, a 5,700 square-foot former convent is included in the offering, presenting a compelling opportunity for conversion into market-rate apartments or senior assisted living facilities. The property's location on Grosse Ile, with its proximity to the river, adds to its desirability. While rezoning will be required for any development, the township has expressed openness to new construction. The asking price for the entire 6.6-acre parcel is $650,000, with individual sections available at separate prices. Note that a church located on the property will remain. This is a rare chance to acquire a substantial land holding with significant development potential in a desirable location. The coordinates are 42.1484674 latitude and -83.1422425 longitude.

    Property Features for 21599 Parke Ln

    General Information

    Property type
    Land
    Lot Size
    417,305 SF

    HighLights

    • 6.6‑acre site ideal for condo development, priced at $650,000.
    • 2.98‑acre parcel suitable for senior housing, offered at $600,000.
    • Former convent available for conversion to apartments, listed at $295,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Gym & Fitness Kitchen & Bath HVAC Service Electrical Service Daycare Center Tech Support Center Home Appliance Store Nursing Home Assisted Living Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grosse Ile Township
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1422425
    Latitude
    42.1484674

    Nearby Comparable

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      Grosse Ile Residential Land - 3.22 Acres

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    • $395,000

      Former Convent Multifamily Conversion Opportunity

      Former convent for multifamily, senior living, or single-family conversion.
      21599 Parke Ln Ln, Grosse Ile, MI 48138
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      Island Coney Restaurant: Turnkey Opportunity

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      Land for Sale

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Land - Prime 6.6-acre residential land parcel.
    Where is this land located?
    The property is located at 21599 Parke Ln Grosse Ile Township, MI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 6.6-acre site ideal for condo development, priced at $650,000.; 2.98-acre parcel suitable for senior housing, offered at $600,000.; Former convent available for conversion to apartments, listed at $295,000.
    Request Owner's contact information
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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
    21599 Parke Ln Grosse Ile Township, MI 48138
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