Canton, MI Multifamily with future redevelopment potential

Located directly off of Michigan Avenue (US-12) on the north side of the road. 2 miles south of I-275. 10-15 minute drive to DTW. Outstanding location with 297 Feet (99 yards) of frontage on Michigan Avenue. High visibility from road (US-12) with daily traffic counts exceeding 50,000+ cars per day.SVN | Stewart Commercial Group is pleased to present this value-add multifamily property assemblage in Canton, Michigan providing current, stable income coupled with exception future redevelopment potential. The offering includeds 2 six-unit buildings, a duplex, a single family home, and a commercial building current leased to Canton Glass. The current rental rates are significantly below market providing opportunity to increase income by increasing rates. All leases with the exception of one (9/15/24 expiration) are month-to-month providing the next owner the immediate opportunity to move rents closer to market. The tw0 six-unit buildings are low maintenance buildings featuring brick exterior, private entrances with no shared common interior, and single story construction. The properties are surrounded by new housing developments in a desirable growing community ideally located half-way between Detroit and Ann Arbor. There's little competition in the surrounding area for this type of affordable housing. The long term play is the redevelopment of the proeprties. This offering represents a Prime Development Opportunity in Canton, Michigan with approximately 5.37 acres on Michigan Ave. currently zoned MR - Multi-family Residential. The offering is a 4 parcel assemblage containing residential structures and one block commercial building fronting on 300' of Michigan Avenue. Tenant leases will not encumber future development. Located in fast growing Canton Township, the site offers incredible access and visibility. Centrally situated on Michigan Avenue just east of Sheldon Road and west of I-275. The site currently has multiple Michigan Avenue curb cuts and is served by public water and sewer. Current zoning allows for multifamily, townhome, or senor living development. The Master Plan allows for a broad range of uses including light industrial, office, shopping centers, restaurants and other retail uses. Major residential and retail development is planned for nearby properties along the Michigan Avenue corridor. The property boasts high traffic counts of over 45,000 vehicles per day.