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    42131 14 Mile Rd Novi, MI 48377

    Sponsored
    For Sale
    $495,000

    2.4-Acre Development Opportunity in Novi, MI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.4-acre commercial land parcel, identified by APN 22-02-203-002, presents a prime development opportunity in the thriving Novi, Michigan market. Located at 42131 14 Mile Road, this vacant pad site is zoned for Office/Medical use and offers significant potential for a new construction project. The property is approved for up to 25,000 square feet of development across two floors, catering to a variety of medical or office uses. Its strategic location provides unparalleled access to major transportation arteries, including less than one mile from the M-5 corridor, ensuring convenient commutes for employees and clients. The site benefits from its proximity to a bustling neighborhood shopping center, featuring established businesses such as Starbucks and CVS, enhancing visibility and attracting potential tenants. This exceptional offering is priced at $495,000 and represents a rare chance to acquire a highly desirable development site in a rapidly growing area of Oakland County. The property's convenient location and approved zoning make it an ideal investment for developers seeking to capitalize on the strong demand for office and medical space in Novi. Don't miss this opportunity to secure a prime location for your next project.

    Property Features for 42131 14 Mile Rd

    General Information

    Property type
    Land
    Lot Size
    104,544 SF

    HighLights

    • 14 Mile & Novi Road vacant land pad site for sale.
    • Excellent M‑5 freeway access.
    • Approved for up to 25,000 square feet, two stories.
    • Suitable for medical or office development.
    • Less than one mile to M‑5, convenient freeway access.
    • Adjacent to shopping center with Starbucks and CVS.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4750241
    Latitude
    42.5123116

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    FAQs

    What type of property is this?
    Land - 2.4-Acre Development Opportunity in Novi, MI
    Where is this land located?
    The property is located at 42131 14 Mile Rd Novi, MI.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: 14 Mile & Novi Road vacant land pad site for sale.; Excellent M-5 freeway access.; Approved for up to 25,000 square feet, two stories.
    (248) 848-4124
    Request Owner's contact information
    42131 14 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
    42131 14 Mile Rd Novi, MI 48377
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