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    55370 Gratiot Ave New Baltimore, MI 48051

    Sponsored
    For Sale
    $2,499,000

    Prime multifamily land, high visibility, excellent location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 15-acre parcel presents a remarkable opportunity for multifamily development. Located in Chesterfield Township, Michigan, at 55370 Gratiot Ave, this property boasts 760 feet of frontage on the highly trafficked Gratiot Avenue, ensuring excellent visibility and accessibility. The land is zoned RM-2 Multi Family, allowing for a variety of residential construction projects. The property comprises four individual parcels, identified by APN 15-09-04-451-010, and is privately owned. Situated conveniently on the east side of Gratiot Avenue, north of 25 Mile Road, this location offers easy access to major roadways and amenities. The asking price for this significant development opportunity is $2,499,000. The substantial lot size and prime location make this an ideal investment for developers seeking to capitalize on the growing demand for multifamily housing in the area. This is a rare opportunity to acquire a large, well-positioned parcel ready for immediate development. The property's high visibility and convenient location make it an attractive prospect for a variety of multifamily projects.

    Property Features for 55370 Gratiot Ave

    General Information

    Property type
    Land
    Lot Size
    653,400 SF

    HighLights

    • 15‑acre multifamily development site in Chesterfield Township, MI.
    • 760 feet of frontage on high‑traffic Gratiot Avenue.
    • Excellent visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.806562
    Latitude
    42.706974

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    FAQs

    What type of property is this?
    Land - Prime multifamily land, high visibility, excellent location.
    Where is this land located?
    The property is located at 55370 Gratiot Ave New Baltimore, MI.
    What is the asking price?
    The asking price for this property is $2,499,000.
    What are key features of this property?
    This property features: 15-acre multifamily development site in Chesterfield Township, MI.; 760 feet of frontage on high-traffic Gratiot Avenue.; Excellent visibility and accessibility.
    Request Owner's contact information
    55370 Gratiot Ave New Baltimore, MI 48051
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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
    55370 Gratiot Ave New Baltimore, MI 48051
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