Property summary
This exceptional 23,093 square foot industrial property presents a unique redevelopment opportunity in Ira, MI. Situated on a generous 10.9-acre lot, the building boasts a prime location and significant potential for diverse uses. Previously utilized as Fair Haven Elementary School, the structure is fully brick with a good roof, offering a solid foundation for future projects. The property features three driveway entrances, ample parking, and remnants of recreational amenities including basketball hoops, a playscape, and several swing sets. While windows are currently boarded, the building's substantial size and layout provide a blank canvas for creative vision. The City of Ira has proactively modified zoning regulations to permit conversion and redevelopment into either condominiums or up to sixty single-family residential units, including the possibility of senior housing. This flexibility allows for a wide range of development scenarios, catering to various market demands and investment strategies. The substantial acreage provides ample space for expansion, landscaping, or additional structures, further enhancing the property's value and appeal. This is a rare chance to acquire a large-scale property with significant redevelopment potential in a growing community. Investors and developers seeking a high-impact project should act quickly to explore this exceptional opportunity.
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
RS · Ira, MIZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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