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    59700 North Ave, Ray, MI 48096

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    Property summary
    AI-generated overview

    This exceptional 20-acre parcel presents a unique opportunity for industrial or commercial development in Macomb County, Michigan. Located at 59700 North Ave, Ray, MI 48096, this property sits conveniently on a paved road, bordering Chesterfield Township. Priced at $700,000, this land is ready for immediate development. A significant advantage is the pre-existing well water installation, eliminating a crucial initial expense. Furthermore, comprehensive traffic and feasibility studies have already been conducted, streamlining the permitting process. Approvals for a mini self-storage facility are already in place, offering a viable development path. This offering presents a compelling standalone investment. However, for those seeking a larger footprint, an adjacent 23.5-acre parcel is available for purchase, creating a combined 43.5-acre opportunity for $1,250,000. This combined purchase is contingent upon a simultaneous sale of both parcels to a single buyer. The property's strategic location, existing infrastructure, and readily available approvals make it an attractive proposition for discerning investors and developers. Don't miss this chance to acquire a prime piece of Michigan commercial real estate.

    Property profile
    Verified
    Property type Land
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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