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    OFF-MARKET
    Commercial real estate

    226 Bailey St, Romeo, MI 48065-4700

    1,776 SF 0.26 ac lot Built 1966
    Entity Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US43-0106245
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1966
    Total area 1,776 SF
    Lot 0.26 ac (11,238 SF)
    Zoning code VERIFY
    APN 27-01-35-383-001
    UPID US43-0106245
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Team Manufacturing Group LLC · 1 yrs held
    Team Manufacturing Group LLC
    since 2024
    Last sale
    $250,000
    5 recorded transactions
    2024
    $250,000
    2023
    2023
    2021
    $174,900
    1969
    Zoning & alternative use
    VERIFY · Romeo, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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