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    OFF-MARKET
    Land

    0 Belle River Rd, Riley, MI 48041

    8.62 ac lot
    Property ID
    Property summary
    AI-generated overview

    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 profile
    Verified
    Property type Land
    Lot 8.62 ac (375,618 SF)
    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
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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