190.5 Acre Prime Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 29994864
Property Subtypes: Industrial, Multi-Family, Office, Residential (Single Family), Retail, Other
Gross Land Area: 190.50 Acres
Sale Price: $7,500,000
Unit Price: $39,370 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/14/2017

Overview / Comments

This property consists of approximately 190.5 acres and is situated in one of Wayne County’s wealthiest and most desirable areas. The Property is generally bounded by 5 Mile Road to the north, M-14 to the south, Napier Road to the west, and Ridge Road to the east. The site enjoys access to major expressways, air and rail transportation systems are within close proximity. The M-14 expressway provides access to Interstate I-96 and I-275. This vacant land is surrounded by dense residential developments, research and office parks, big box retailers, and national restaurants. The Brae Burn Golf Club is located immediately to the west of the site.

The immediate area has experienced rapid growth within the last decade. Between 2000 and 2015, the population of Plymouth has increased by 26%. This Property would provide the ideal setting for an Industrial Development, Research & Development Park, or new corporate headquarters. A developer could also pursue re-zoning for a potential residential or retail development.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Southern I-275 Corridor
Tax ID/APN: A PARCEL OF LAND IN THE NORTH 1/2 OF SECTION 19, TOWN 1 SOUTH, RANGE 8 EAST, PLYMOUTH TOWNSHIP, WAYNE COUNTY, MICHIGAN AND BEING MORE SPECIFICALLY DESCRIBED AS: COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 19; THENCE SOUTH 88 DEGREES 31 MINUTES 33 SECONDS WEST 1284.22 FEET ALONG THE NORTH LINE OF SAID SECTION 19 AND THE CENTERLINE OF FIVE MILE ROAD TO AN INTERMEDIATE TRAVERSE LINE OF THE CENTERLINE OF JOHNSON CREEK FOR THE POINT OF BEGINNING; THENCE SOUTH 38 DEGREES 58 MINUTES 31 SECONDS WEST 1499.20
Zoning: IND

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,109 30,771 118,359
Median Age: 36.25 43.39 41.87
Households: 1,869 11,105 45,491
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