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$ 1,199,000
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2440, 2480, 240 S Baldwin Road Lake Orion, MI 48360
5,011 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 5,011 sqft
Price per Sqft $239
MLS Listing ID 61025897
Annual Tax Amount $9,100
Lot Size 1.810 Acres
Acres 1.81
Lot Dimensions 493x268x458x145
Property Sub-Type Commercial/Industrial
Property Description
Investment property with estimated $400,000+ profit potential. R-3 Zoning would allow for Four (4) waterfront new home sites in this prime time community. The McMansion at 5011 square feet Could be a profitable vacation rental as 1 or 2 units with approval of the Township. The numbers here are of potential corporate rent $7,500 for executive transfers into the metropolitan Detroit area, plus detached 3 car 1,000 sq ft garage to a local car collector. There are 2 recent surveys on the existing two (2) tax items. Profit potential is based upon combining both tax parcels into a request for splitting into five (5) tax items. One would continue as the 5011 square foot house, a second would include the detached 1000 square foot detached garage as a new home site, the balance ov vacant land petitioned into three (3) buildable sites. City water is installed in the house and is available across the street to the second tax item. Public sewer is within 500 feet of the vacant parcel and conveniently downhill. Investors are looking at this in multiple ways, the simplest profit plan maybe to purchase the large house, do a little upgrade and staging and sell for a minor profit. Before resale split the tax parcels into valuable Oakland County waterfront home sites. The owner is offering sellar financing on both or either tax parcels. Purchaser may want to consider buying the house with an option on the vacant land thus granting enough time for necessary municipal approvals. Note almost 500 feet of waterfront development land in Lake Orion School District!
Location
State MI
County Oakland
Area Orion Twp (63091)
Zoning Residential
Interior
Heating Forced Air, Radiant
Building
Foundation Basement
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Tepee Realty
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