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    OFF-MARKET
    Commercial real estate

    Main St, Richmond, MI 48062

    0.63 ac lot Built 1905
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1905
    Lot 0.63 ac (27,443 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
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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