Multifamily Redevelopment Opportunity
3127 Maple St
Warren, MI 48091
Highlights
- 19-Acre Redevelopment Site | R-1-P Zoning with Approved Multifamily Plan
- 312 Units with Preliminary Site Plan Approval with a Suburban Style Apartment Community Design with 3.25+/- Acres of Parks and Open Space within the Development
- Projected NOI at Stabilization: $4.2 Million | 7.00 % Cap Rate
- Value at Stabilization: $63.9 Million ($204K Per Unit)
- Prime Warren Location | Strong Population Base of 345K+ Within 5 Miles
- Robust Demographics: $76,877 Avg. HHI| 345,865 PPL w/in 5-Mile
- Accessible Corridor – Proximity to I-696, I-75, and Major Employers
- Investment Opportunity – High-Demand Metro Detroit Multifamily Submarket
- Within 15 minutes or 6.2 miles from University of Detroit Mercy Main Campus, McNichols. It is also near Oakland Community College, Royal Oak Campus and Marygrove College.
Description
Redevelopment opportunity with this prime property located in the thriving Warren area. Zoned R-1-P, this versatile parcel presents an ideal prospect for multifamily development. Its strategic location in the heart of Warren makes it a choice investment for savvy investors seeking to capitalize on the demand for multifamily residences.
Warren, MI is one of Michigan's largest suburbs, known for its dynamic vibe and known for its strong industrial roots and vibrant community. Its strategic location and accessibility to major transportation routes further enhance its appeal for businesses and investors. Warren's blend of urban amenities, cultural attractions, and a skilled workforce make it an ideal setting for businesses seeking growth and success in a dynamic environment.
