Property profile

7277 Richardson Rd West Bloomfield, MI 48323

OFF-MARKET
Commercial real estate
Property ID
US43-1012737
13,457 SF 2.07 ac lot Built 1925
Entity Owned 25-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

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

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1925
Total area 13,457 SF
Lot 2.07 ac (89,995 SF)
Zoning code BI
APN X -18-18-407-001
UPID US43-1012737

Cap rate & NOI

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

Location

7277 Richardson Rd West Bloomfield, MI 48323-1266
West Bloomfield metro Census 156200 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
$2.75M
Blend (final) Blend
$1.63M

Owner & transaction history

since 2001
7 recorded transactions
2023
Price N/A
2022
Price N/A
2021
Price N/A
2017
Price N/A
2001
$1.6M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

BI · West Bloomfield, MI

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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