Farnsworth Rd Lapeer, MI 48446
All parcels in the R-2 through R-3 Single-Family Residential zoning districts qualify for the Open Space Plan Subdivision option. This aspect of the plan will be reviewed along with review of all other site design elements, following either the Subdivision Plat or Site Condominium review process, whichever is applicable. Cluster Housing Option The Cluster Ho…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R-2 · Lapeer, MIAll parcels in the R-2 through R-3 Single-Family Residential zoning districts qualify for the Open Space Plan Subdivision option. This aspect of the plan will be reviewed along with review of all other site design elements, following either the Subdivision Plat or Site Condominium review process, whichever is applicable. Cluster Housing Option The Cluster Housing option provides a means for clustering dwelling units on certain parcels of land that meet the Cluster Housing qualification criteria listed in Article 7.03.05 of the Zoning Ordinance, and that would be difficult to develop as a conventional subdivision. The “clustering” is achieved in one of two ways: • Individual (unattached) dwelling units may be spaced closer together than permitted in a conventional residential development, or • Up to four dwelling units may be attached, provided the units are staggered as explained in the Zoning Ordinance. Determination of Qualification An applicant must first demonstrate to the Planning Commission that the subject parcel qualifies for the Cluster Housing option by meeting at least one of the criteria listed in the Zoning Ordinance. • It is recommended that the applicant first meet with Planning Department staff to determine if the subject parcel is a good candidate for the Cluster Housing option. 19 • The applicant should proceed by writing a letter to the Planning Commission requesting a Determination of Qualification, explaining by which criteria the parcel qualifies, and confirming that the parcel was not intentionally split to qualify for the Cluster Housing option. The letter should be accompanied by eight 24 by 36 full size and one 11 by 17 size and one digital file of a conceptual plan, and any other supporting information that might assist the Planning Commission with its decision. • The request will be placed on the next possible Planning Commission agenda. Please note that meeting the qualification criteria does not automatically infer approval of the Cluster Housing option. The Planning Commission has the discretionary authority to approve or deny a request for the Cluster Housing option based on their determination of the most suitable use of the subject parcel. Site Plan Review If the Planning Commission determines that a parcel qualifies for development under the Cluster Housing option, a public hearing will be scheduled for the Planning Commission to review the preliminary site plan. If approved, a second public hearing will be held before the City Commission.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.