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    Belle River Rd Riley, MI 48041

    Sponsored
    For Sale
    $799,000

    8.6 Acres, Multifamily Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 8.623-acre parcel in Memphis, Michigan, presents a remarkable opportunity for multifamily development. Zoned RM, this property is ideally situated near downtown Memphis and adjacent to local schools, benefiting from a thriving and expanding residential area. The land is conveniently located at 0 Belle River, Memphis, MI 48041 (APN: 04-03-02-151-007), offering immediate access to all necessary utilities at the roadside. This translates to significant cost savings and expedited construction timelines. Surrounded by recently constructed homes, this site guarantees a strong foundation for a successful multifamily condominium project. The property's size and prime location make it an attractive investment for developers seeking to capitalize on the growing demand for housing in this desirable Michigan community. All utilities are readily available at the street, eliminating significant infrastructure hurdles. This ready-to-build site offers a unique chance to create a thriving residential community in a vibrant, established neighborhood. The asking price for this exceptional development opportunity is $799,000.

    Property Features for 0 Belle River Rd

    General Information

    Property type
    Land
    Lot Size
    375,618 SF

    HighLights

    • 8.623‑acre multifamily development site in Memphis.
    • Utilities at the street, ready for immediate construction.
    • Prime location near downtown Memphis, adjacent to schools and new homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Riley
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.773263830932
    Latitude
    42.892178358135

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    FAQs

    What type of property is this?
    Land - 8.6 Acres, Multifamily Potential
    Where is this land located?
    The property is located at Belle River Rd Riley, MI.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: 8.623-acre multifamily development site in Memphis.; Utilities at the street, ready for immediate construction.; Prime location near downtown Memphis, adjacent to schools and new homes.
    (810) 987-2555
    Request Owner's contact information
    Belle River Rd Riley, MI 48041
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    Riley, MI 48041
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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
    Belle River Rd Riley, MI 48041
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