13 Mile & M-5 Assemblage

40705 13 Mile Road, Novi, MI 48377

Property Details

Acreage

17.56 acres

Zoning

RA - Residential Agricultural

Parcel ID

22-12-101-047, 046, 049, 038, 035 & 051

Price

$2,900,000

Information deemed reliable but not guaranteed. Subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. See full disclaimer

Description

17.96 Acres of residential zoned land, ideally rezoned to a higher density residential or office use, located on 13 Mile just west of M-5 in Novi, Michigan.

Location

Located on the south side of 13 Mile Road, just west of M-5.

Highlights

Proposed rezoning to Multi-Family or Office.
Rare opportunity to acquire a sizable assemblage of undeveloped land in the City of Novi.
High residential growth and rental rate market.

Location

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Demographics

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	1-Mile Radius	3-Mile Radius	5-Mile Radius
Total Population	9,804	57,427	185,256
Total Households	4,328	25,042	78,382
Persons / Household	2.25	2.28	2.35
Avg. Household Income	$115,171	$126,851	$135,925
Per-Capita Income	$51,324	$56,421	$58,421
Avg. Home Value	$368,912	$374,801	$408,531
Median Age	43.9	44.3	43.3