31074 Novi Rd Novi, MI 48377
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
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
R-A · Novi, MINovi. 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.