35032 Bordman Rd Memphis, MI 48041-4530
Central Business District (CBD) Location: The City of Memphis’ traditional downtown is a five block area centered on the intersection of Bordman Road and M-19. It extends from Union Street to the east and to Potter Street to the south. Church Street defines the western-most extent of the district. The back lot parcel boundaries of the properties fronting the…
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
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Property description
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CBD · Memphis, MICentral Business District (CBD) Location: The City of Memphis’ traditional downtown is a five block area centered on the intersection of Bordman Road and M-19. It extends from Union Street to the east and to Potter Street to the south. Church Street defines the western-most extent of the district. The back lot parcel boundaries of the properties fronting the north side of Bordman Road form the northern-most extent of the CBD. Existing Development Patterns: Memphis’ CBD is that of a traditional downtown. A mix of historic and contemporary structures comprises the majority of CBD buildings. Some single family residential and second floor commercial residential housing units are present within the CBD. Municipal and traditional institutional uses are also found within this land use category. Land Use Intent: The Central Business District continues to function as a viable area of concentrated mixed uses that service the needs of City residents and M-19 vehicular traffic. Foot and vehicular traffic are vital to this area. Pedestrian access, safety and vehicular parking needs are recognized as elements to be considered in all new and redevelopment projects. City of Memphis Master Plan 37 M-19 Commerical Location: Properties adjacent to M-19 corridor extending north from the southernmost city limits to the Belle River, excluding properties defined as part of the Central Business District. Existing Development: This corridor is characterized by single family development with small commercial nodes servicing local neighborhoods and M-19 vehicular traffic. Scattered mixed commercial also exists in the form of professional/ medical services, with many operating out of converted residential units. Places of worship and other public/semi-public uses dot this corridor. Land Use Intent: The performance-based commercial land use category allows for a viable commercial corridor that provides city residents with more intensive commercial services not suitable for the Central Business District. This land use will support infill development of commercial businesses that target goods and services to city residents as well as the thousands of untapped vehicular consumers that drive the corridor each day. Further, this area will function as an economic driver by creating jobs and expanding private investment in the community. Approved commercial developments must meet a set of specific performance criteria.
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