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    40695 Thirteen Mile Rd Novi, MI 48377

    Sponsored
    For Sale
    $1,950,000

    11 Acres, High Visibility, Development Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 11.12-acre commercial land parcel presents a unique investment opportunity in Novi, Michigan. Strategically located at the southwest corner of 13 Mile Road and the M-5 Expressway, this property boasts approximately 1000 feet of frontage along M-5, ensuring unparalleled visibility and accessibility. The current zoning is RA - Residential

    Property Features for 40695 Thirteen Mile Rd

    General Information

    Property type
    Land
    Lot Size
    484,387 SF

    HighLights

    • Proposed multi‑family or office rezoning.
    • High‑visibility corner lot at 13 Mile Road and M‑5 Expressway.
    • Approx. 1,000 feet of M‑5 frontage.
    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 Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4489111
    Latitude
    42.5098856

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    FAQs

    What type of property is this?
    Land - 11 Acres, High Visibility, Development Potential
    Where is this land located?
    The property is located at 40695 Thirteen Mile Rd Novi, MI.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Proposed multi-family or office rezoning.; High-visibility corner lot at 13 Mile Road and M-5 Expressway.; Approx. 1,000 feet of M-5 frontage.
    Request Owner's contact information
    40695 Thirteen Mile Rd Novi, MI 48377
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    Novi, MI 48377
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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
    40695 Thirteen Mile Rd Novi, MI 48377
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