Main St Richmond, MI 48062
- Commercial real estate
- 0.63 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for Main St
- Year built
- 1905
- Lot size
- 0.63 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents three commercial buildings situated on a high-traffic section of Main Street in Richmond, Michigan. Boasting over 25,000 vehicles passing daily, this 0.63-acre property offers unparalleled visibility and accessibility. Located on a rural state highway, it benefits from established infrastructure, eliminating any risk of freeway reroute. Richmond itself is a thriving community with over 25,000 residents within easy reach, relying on this business district for essential services, shopping, and dining. The property's prime location and the town's continued growth make it ideally suited for a redevelopment project. The existing structures could be removed to create a vibrant, three-story mixed-use condominium development, incorporating retail or restaurant space on the ground floor and upscale condominiums above. This aligns perfectly with Richmond's increasing demand for both residential and commercial spaces. This project offers significant upside potential, further enhanced by the possibility of securing redevelopment grants and financial incentives. This rare opportunity allows an investor or developer to significantly shape the future of Richmond's dynamic business district, capitalizing on the strong local economy and natural growth trajectory of the area. The asking price for this unique property is $1,200,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Macomb
- State
- Michigan
- Longitude
- -82.7684
- Latitude
- 42.8877