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    20805 Pearl St Farmington, MI 48336

    Sponsored
    For Sale
    $360,000

    0.87 Acres, 20-Unit Potential, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 0.87-acre parcel presents a remarkable opportunity for multifamily development in the affluent Farmington Hills area of Oakland County, Michigan. Zoned for residential use, this fee-simple property offers the potential to construct up to 20 residential units, catering to the high demand for housing in this desirable location. The site is conveniently situated off West 8 Mile Road, a major thoroughfare boasting over 20,000 vehicles per day, ensuring excellent visibility and accessibility. The address is 20805 Pearl St, Farmington Hills, MI 48336. This prime location within Oakland County provides access to a thriving community with established amenities and a strong rental market. The asking price for this exceptional development opportunity is $360,000. Given the land's size and zoning, along with the area's high demand for housing, this represents a compelling investment prospect for experienced developers seeking to capitalize on the robust real estate market in this affluent Michigan community. The property's strategic location and significant development potential make it an ideal choice for those seeking a high-return investment in a desirable and established market. Serious inquiries are encouraged.

    Property Features for 20805 Pearl St

    General Information

    Property type
    Land
    Lot Size
    37,897 SF

    HighLights

    • 0.87‑acre parcel ideal for multifamily development.
    • Potential to build up to 20 residential units.
    • Located in the affluent Farmington Hills area of Oakland County.
    • Situated off West 8 Mile Road with 20,000+ vehicles per day.
    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 Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3468784
    Latitude
    42.4658351

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    FAQs

    What type of property is this?
    Land - 0.87 Acres, 20-Unit Potential, Prime Location
    Where is this land located?
    The property is located at 20805 Pearl St Farmington, MI.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: 0.87-acre parcel ideal for multifamily development.; Potential to build up to 20 residential units.; Located in the affluent Farmington Hills area of Oakland County.
    (248) 226-1610
    Request Owner's contact information
    20805 Pearl St Farmington, MI 48336
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    Farmington, MI 48336
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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
    20805 Pearl St Farmington, MI 48336
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