226 Bailey St, Romeo, MI 48065-4700
This exceptional .26-acre commercial land parcel is situated in the heart of Downtown Romeo, Michigan, at the corner of N Bailey Street and E Newberry Street. Zoned for Central Business District use, this property offers significant development potential. The zoning permits the construction of a three-story building. With approval from the Village of Romeo, zero lot line setbacks are possible along the road frontage, maximizing buildable space. The site benefits from recently redone roads, ensuring convenient access. Its location adjacent to a Class A office building provides a desirable and established business environment. All essential utilities are readily available, including municipal water, sewer, and storm sewer connections. The property's history includes use as a self-serve car wash, offering a unique perspective for potential redevelopment. This is a rare opportunity to acquire a highly desirable commercial lot in a thriving downtown area. The asking price is $250,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
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
VERIFY · Romeo, MIRomeo. Always verify with local authorities before improvements.
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.