Property profile

35000 Division Rd Richmond, MI 48062

OFF-MARKET
Commercial land
Property ID
US43-1976461
1.16 ac lot
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,500 square foot industrial building, situated on a 0.34-acre lot in Richmond, MI, presents a unique investment opportunity. Located in a high-traffic area, the property boasts ample parking. The building's versatile layout currently includes multiple offices, a dedicated conference room, and a media room, offering flexibility for a variety of uses. The existing configuration could easily be maintained for a multi-tenant setup, or the interior could be opened up to create a larger, more open floor plan to suit a single occupant's needs. The building's size and layout provide significant potential for a range of businesses seeking a functional and well-located space. The substantial parking area ensures convenient access for employees and clients alike. This property is ideally suited for businesses requiring a combination of office and warehouse space, or those seeking a prominent location with high visibility. The asking price of $350,000 represents a compelling value in the current market. This is a rare opportunity to acquire a well-maintained industrial building in a desirable location. Don't miss out on this chance to secure a prime piece of commercial real estate in the thriving Richmond area.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1.16 ac (50,530 SF)
Zoning code O
APN 07-06-02-201-010
UPID US43-1976461

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Alternative Medicine Practice Spa & Massage Center
  • Insurance Agency
  • Spa & Massage Center Skin Care Clinic
  • Alternative Medicine Practice Spa & Massage Center

Location

35000 Division Rd Richmond, MI 48062-1566
Richmond metro Census 211000 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$75k

Owner & transaction history

since 2022
Last sale
$75,000
6 recorded transactions
2023
Price N/A
2022
$30,000
2022
$70,000
2022
Price N/A
2022
$75,000
1969
Price N/A

Zoning & alternative use

O · Richmond, MI
General category UNKNOWN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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