40705 13 Mile Rd Novi, MI 48377
This exceptional 17.56-acre land assemblage presents a rare investment opportunity in Novi, Michigan. Located at 40705 13 Mile Rd, just west of M-5, this property is currently zoned RA - Residential Agricultural, offering significant potential for rezoning to a higher density residential or office use. The assemblage consists of six parcels (APN: 22-12-101-047, 046, 049, 038, 035 & 051) totaling 17.56 acres, with an asking price of $3,150,000, or $179,385 per acre. Given Novi's robust residential growth and strong rental market, this site is ideally positioned for substantial future development. The property benefits from access to municipal water and sanitary sewer, simplifying infrastructure considerations for any future project. This is a unique chance to acquire a significant parcel of undeveloped land in a thriving Michigan community, poised for substantial appreciation. The proposed rezoning to multi-family or office use presents a compelling investment case, capitalizing on the area's high demand and limited supply of developable land. Serious inquiries are encouraged.
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
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.