0 Belle River Rd, Riley, MI 48041
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.