Property profile

12 Mile Rd Novi, MI 48377

OFF-MARKET
Commercial land
Property ID
US43-2098439
0.79 ac lot
Entity Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 14.33-acre land parcel, strategically located in Novi, Michigan's Meadowbrook Corporate Park, presents a unique investment opportunity for office development. The property, encompassing four parcels (APN: 50-22-13-301-026, 50-22-13-301-029, 50-22-13-100-037, 50-22-13-301-027), is zoned OST (Office Service Technology District), allowing for diverse uses including medical, corporate office, and high-tech development. All utilities are readily available. The site boasts excellent visibility and accessibility, with convenient access to the M-5 Haggerty connector and proximity to major expressways like I-96, I-275, and M-5. Its location within Meadowbrook Corporate Park offers a prestigious address and proximity to numerous restaurants and Twelve Oaks Mall. Individual parcels are also available for purchase, providing flexibility for various development scenarios. This prime location and versatile zoning make this a compelling opportunity for investors seeking a high-growth area with strong infrastructure and amenities. The asking price for the entire 14.33-acre site is $900,000. Don't miss this chance to acquire a significant land holding in a thriving Michigan market.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.79 ac (34,412 SF)
Zoning code OST
APN 50-22-15-126-020
UPID US43-2098439

Cap rate & NOI

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

Location

12 Mile Rd Novi, MI 48377
Novi metro Census 136101 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2022
5 recorded transactions
2022
Price N/A
2022
Price N/A
2018
Price N/A
2017
Price N/A
2001
$41,500

Zoning & alternative use

OST · Novi, MI
Zoning description

OST Planned Office Service Technology District 149 - - - Found in multiple Articles and Sections 2300A Intent 149 3 3.1.23.A 3-52 2301A Principal Uses Permitted 149 3 3.1.23.B 3-52 Intro text no longer required 2301A.4 R…

General category UNKNOWN

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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