Property profile

58500 North Ave Ray, MI 48096

OFF-MARKET
Warehouses
20,000 SF 43.5 ac lot Built 2025
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Property summary

AI-generated overview

This exceptional 43.5-acre parcel in Ray, Michigan (48096), presents a prime redevelopment opportunity. Currently vacant, this Class A industrial property boasts 20,000 square feet of buildable space, zoned for industrial use, and includes approved plans for a self-storage/RV outdoor storage/truck depot facility. The property features four single-story buildings planned, with a total of 100 units, and an 8.5-foot ceiling height. All necessary approvals are in place, including zoning, architectural design plans, surveys, and environmental reports. Construction is slated to begin in July 2024. The asking price is $1,250,000, or $62.50 per square foot, and $12,500 per unit. This turnkey project offers a significant return on investment in a high-demand area. The property's location at 58500 North Ave, Ray, MI, provides excellent accessibility and visibility. This is a rare chance to acquire a fully permitted development-ready site, eliminating the lengthy and often costly permitting process. Begin construction immediately and capitalize on the burgeoning demand for storage solutions in Macomb County. The property's APN is 0536100024.

Property profile

Verified
Property type Warehouses
Year built 2025
Total area 20,000 SF
Lot 43.5 ac (1,894,860 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

58500 North Ave Ray, MI 48096
Ray metro
Google Maps

Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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