This 11.7 acre parcel is zoned C2. In addition, it is Master planned Multi-family residential, giving the buyer the potential to develop the property for uses allowed within the C2 zoning district or to develop the property for multi-family residential use (e.g. apartments or condos) or to split the parcel for mixed use. The parcel was appraised by a Commercial Real Estate Appraiser (not a broker) for $195,000. The price was just reduced to $145,000 for quick sale, making this parcel price the lowest in the surrounding 342 square miles. The parcel is traversed by an abandoned county drain. No vertical development (e.g. a building) is allowed over the drain, but horizontal development ( e.g. a road) is allowed. This site is in close proximity to the new 84 acre Amazon Distribution Center in Romulus that is expected to bring in excess of 1,600 new jobs to the city and an economic impact of over 10.2 billion dollars to the city. This location has a traffic count of nearly 16,000 cars per day, Median Household Income of $44,000 and proximity to I-94 of 2.25 miles.
General Information
Sale Price: $145,000
Price/SqFt:
Status: Active
MLS#: 219001314
City: romulus
Post Office: romulus
Schools: romulus
County: Wayne
Acres: 11.7
Lot Dimensions: irregular
Size:
Acreage: 11.7 est.
Year Built:
Property Type:
Style:
Tax, Fees & Legal
Est. Summer Taxes: $9,297 Est. Winter Taxes: $2,708
Legal Description: 05B1 2A 05J1B PT OF THE NE 1/4 OF SEC 5 DESC AS BEG AT A POINT DISTANT N 88D 31M 40S E 1302.98 FT AND N 0D 41M 50S W 854.41 FT AND N 0D 49M 30S W 40 FT FROM THE CEN 1/4 CORNER OF SEC 5 AND PROCEEDING TH N 0D 49M 30S W 290.42 FT TH DUE W 1257.60 FT TH N 1D 21M 50S W ALONG THE E LINE OF THE CHESAPEAKE AND OHIO RR RIGHT OF WAY 160.21 FT TH N 88D 47M 32S E 865.40 FT TH S 87D 59M E 394.08 FT TH N 89D 35M 40S E 669.76 FT TH S 4D 34M 40S W ALONG THE CENTER LINE OF WAYNE RD 459.19 FT TH S 89D 48M 24S W 626.54 FT TO THE POB 11.70 ACRES
