Income Producing Land / Billboard Investment in Whitmore Lake for Sale

Vacant Land for Sale
Catylist Listing ID: 30230027
Property Subtypes: Agricultural, Retail
Gross Land Area: 5.46 Acres
Sale Price: $585,000
Unit Price: $107,142 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/20/2018

Overview / Comments

5.5 Acre income producing property located along heavily traveled US-23 just north of the North Territorial interchange. Two double sided large billboards with leases and small storage shed on property. Over $16,000/year generated from billboard lease.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Taxing Authority: Northfield Township
Tax ID/APN: B -02-20-200-010
Zoning: PSC - PLANNED SHOPPING CENTER DISTRICT
Property Located Between: North Territorial and 5 Mile Road
Property Visibility: Good
Legal Description: *OLD SID - B 02-020-009-10 NO 20-6A-2 COM AT N 1/4 COR OF SEC, TH S 88-15-06 W 2079.96 FT IN N/L OF SEC, TH S 23-49-29 E 826.34 FT FOR POB, TH N 87-58-20 E 467.34 FT, TH S 2-01-40 E 750.00 FT, TH S 87-58-20 W 167.41 FT, TH N 23-49-29 W 807.75 FT TO POB, BEING PART OF NW 1/4 SEC 20 T1S R6E 5.46 AC
Largest Nearby Street: US-23, North Territorial Road
Feet of Frontage: 807
Highway Access: US-23 at North Territorial Road
Airports: DTW
Site Description: 5.5 acre site located along US-23 just north of the North Territorial interchange. Two income producing double sided highway billboards and small shed currently on property.
Area Description: Northfield Township is located halfway between Ann Arbor and Brighton off of U.S. 23, encompassing 36 square miles and home to the area known as Whitmore Lake. The township boasts extreme beauty, with rolling countryside, centennial farms, and a rural character that feels miles away but only minutes from the City. Whitmore Lake, one of the premier lakes in Southeast Michigan, with 750 acres of open water accommodates all sports, including fishing, boating, water skiing, etc. While there, enjoy many restaurants, read a book at the historic library, shop in one of many downtown businesses, or enjoy an evening of bowling with the family. Whether it's to enjoy the many natural features offered, spend a day on one of the lakes, play golf with a beautiful scenic backdrop, or enjoy downtown shopping.
Lot Frontage: 807
Zoning Description: • Sec. 36-594. - Purpose. This district is established to provide areas for shopping center development. The district is intended to permit and encourage commercial uses, primarily retail uses, that are compatible with and mutually supportive of each other, in one or more buildings of a unified architectural character, on a site that is planned, developed and managed as one operating unit. It is intended that each site be landscaped with a common unifying theme, and be provided with common drives, parking areas, and service areas designed and sized in a definite relationship to the types and sizes of stores to be located in the center. This district is intended to guarantee to the public, after the PSC district is approved, that commercial uses will be provided in a shopping center environment and not in a miscellaneous collection of stores in a strip arrangement on individual lots. It is intended that the district provide a desirable and representative image of the township; that it provide an attractive, comfortable and convenient environment for patrons of the center; and that the center be developed in such a way as to be compatible with neighboring uses, especially residential areas. The PSC district is to be located only in areas designated in the township's adopted comprehensive plan for shopping center use. (Ord. of 7-22-2013, § 50.01) • Sec. 36-596. - Permitted uses. The following uses shall be permitted in this district: (1) Food stores, such as supermarkets, meat and fish markets, delicatessens, bakeries, dairy products, and health food stores. (2) Food service shops, such as restaurants, cafeterias, cocktail lounges, and ice cream shops. (3) General merchandise stores, such as department stores, variety stores, and catalog stores. (4) Clothing and shoe stores. (5) Dry goods stores. (6) Luggage and leather goods stores. (7) Furniture and appliance stores, decorating shops, and china and glassware stores. (8) Other retail stores, such as hardware, home improvements, automotive supplies, garden supplies, hobby supplies, records and tapes, musical instruments, books and stationery, pets and pet supplies, flowers, tobacco, drugs and cosmetics, greeting cards and gifts, photography equipment and services, and party supplies, including packaged beer, wine, and liquor. (9) Financial services. (10) Offices, such as legal, accounting, real estate, medical and dental. (11) Services, such as beauty and barber shops, watch repair, shoe repair, dry cleaners and laundries, travel agents, music and dance studios, optical services, and health salons. (12) Other services, such as automobile service stations. (13) Outdoor displays and sales, but only in areas and time periods designated in the approved site plan. (Ord. of 7-22-2013, § 50.03; Ord. No. 16-48, § 7(a), 4-12-2016)
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,627 9,898 32,063
Median Age: 36.63 40.7 41.34
Households: 656 3,906 12,404

Contact

Photograph of Listing Agent

Michael L. Jurgenson, CCIM

Swisher Commercial CPIX Member
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