This exceptional 31.47-acre parcel in Milan, Michigan, presents a unique investment opportunity. Located in Washtenaw County, with the address of Arkona Rd, zip code 48160, and APN 19-19-26-400-008, this land is zoned R-3/M/PUD, making it ideal for residential development. Site plans have already been approved for the construction of 124 residential lots, representing the final two phases of the Uptown Village subdivision. All essential public utilities—natural gas, city water and sewer, and electricity—are readily available at the site. The property boasts convenient access to US-23 and Carpenter Road, ensuring easy commuting. Uptown Village offers residents access to a clubhouse, an in-ground pool, and walking areas, enhancing the desirability of the community. The location is highly advantageous, situated between Ann Arbor and Toledo, providing proximity to major employment centers, shopping, and other amenities. Schools are also conveniently located nearby. The asking price for this remarkable property is $1,000,000, translating to approximately $31,776.29 per acre. This represents a compelling opportunity to capitalize on the strong demand for residential properties in this thriving area.
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
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Property description
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Risks
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