141 W Elizabeth St Lake Orion, MI 48362
This exceptional 0.73-acre land parcel in Orion Township, Michigan, presents a unique opportunity for developers and investors. Located at 141 W Elizabeth St, 48362, this property boasts fully approved permits for the construction of up to sixteen luxury apartments. Situated in the heart of Lake Orion, it offers unparalleled convenience, with walking distance access to the charming downtown area, all sports Lake Orion, and numerous amenities including restaurants, Kroger, Meijer (including a new specialty produce market), and parks. The property's prime location is further enhanced by its proximity to major developments and Great Lakes Crossing (approximately 7 miles). This turnkey opportunity eliminates the lengthy permitting process, allowing for immediate commencement of construction. The seller may consider build-to-suit options or act as project manager, and seller financing may be available. The surrounding area features multi-million dollar developments, indicating a strong and promising return on investment. This is a rare chance to create a landmark development in a highly desirable and thriving Michigan community.
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
Similar Nearby for Sale
Similar Nearby for Lease
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.