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Property profile & analytics
OFF-MARKET
Commercial land

31074 Novi Rd Novi, MI 48377

0.42 ac lot
Entity Owned 5-yr Hold Absentee Owner Free & Clear
Property ID
US43-2653938
Property summary
AI-generated overview

This exceptional 0.42-acre commercial lot in Novi, Michigan, presents a turnkey opportunity for a medical office development. Located on Novi Road, just south of 14 Mile Road, this property boasts high visibility and convenient access. The City of Novi has already approved plans for a state-of-the-art 2,600 square foot medical office building. All necessary city approvals, surveys, and final construction drawings are complete, eliminating significant hurdles and expediting the development process. This significantly reduces the time and cost typically associated with obtaining permits and approvals. The property is priced at $350,000, representing a price per square foot of $134.62. This investment-ready site offers a streamlined path to establishing a thriving medical facility within Novi's dynamic community. The existing approvals and plans minimize upfront costs and delays, allowing for a quick transition from purchase to construction. This is an unparalleled opportunity to capitalize on the high demand for medical services in this thriving area. Don't miss this chance to build a successful medical practice in a prime Novi location.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.42 ac (18,295 SF)
Zoning code R-A
APN 50-22-02-200-043
UPID US43-2653938
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
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by Request
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Ajss Property LLC · 5 yrs held
Ajss Property LLC
since 2021
Last sale
$149,900
3 recorded transactions
2021
$149,900
2021
Price N/A
2009
$12,500
Zoning & alternative use
R-A · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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