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

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