Property summary
This exceptional 2.07-acre property in West Bloomfield Township, Michigan, presents a unique redevelopment opportunity. Located at 7277 Richardson Rd, this vacant site boasts a Planned Development District (PDD) zoning designation, ideal for "Missing Middle Housing," encompassing diverse housing options like duplexes, fourplexes, cottage courts, and multiplexes. The 13,457 square foot, single-story building, constructed in 1952 with renovations in 1982, sits on the land and offers 30 surface parking spaces. The property features city water and sewer access. This prime location offers strong residential demographics, with median household incomes exceeding $107,000 within a 3-5 mile radius and a population of 146,000 within a 5-mile radius. Convenient access to major roadways, including M-5, I-275, and I-96, enhances its appeal. Nearby amenities include Bloomer Park, Baypoint Golf Course, Twin Beach Country Club, and a growing retail corridor along Haggerty Road. The property's APN is X-18-18-407-001. This is an outstanding investment opportunity for developers seeking to capitalize on the high demand for housing in this desirable West Bloomfield location. The asking price is $950,000. The property is currently vacant and offers significant potential for a lucrative multifamily development.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
BI · West Bloomfield, MIZoning
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Zoning designation
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