For Sale
$950,000

427 Steer St Addison, MI 49220

7.2-acre redevelopment site, 14,035 sq ft

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
Attention developers! This exceptional 7.2-acre property in Addison, Michigan, presents a unique redevelopment opportunity. The site boasts approximately 875 feet of frontage on the serene Addison Mill Pond and includes two buildings: a former 12,235 square foot bariatric hospital and a separate 1,800 square foot building currently leased for $2,000 per month. The property features a substantial 500-kilowatt transformer with 3-phase power and 208 volts, providing ample electrical capacity for a variety of uses. Built in 1950 and renovated in 2019, the property is zoned for commercial use and offers significant potential for multi-family, senior housing, or self-storage development. The asking price is $950,000, translating to $67.69 per square foot. The property consists of two, two-story buildings, totaling 14,035 square feet. The site's location at 427 N Steer St, Addison, MI 49220, offers excellent visibility and accessibility. Parcel numbers are WD1131447500 and WD1131442500. Projected occupancy is March 23, 2024. All information should be independently verified.

Highlights

  • $950,000 asking price for this redevelopment opportunity.
  • 7.2-acre lot with approximately 875 feet of frontage on Addison Mill Pond.
  • Two buildings totaling 14,035 square feet; one building is currently leased.
  • 1950 construction, renovated in 2019.
  • Commercial zoning permits multifamily, senior housing, and self-storage development.
  • 500-kilowatt transformer with 3-phase power and 208 volts.

Property Details for 427 Steer St

Property type
Apartment buildings
Square Feet
14,035 SF
Year Built/Renovated
1950/2019
Buildings
2
Stories
2
Lot Size (sq. ft)
313,632 SF

Location Insight

City
Addison
County
Lenawee
State
Michigan
Latitude
41.9908168
Longitude
-84.3484949

FAQs

What type of property is this?
Apartment building - 7.2-acre redevelopment site, 14,035 sq ft
Where is the apartment building located?
The property is located at 427 Steer St Addison, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: $950,000 asking price for this redevelopment opportunity.; 7.2-acre lot with approximately 875 feet of frontage on Addison Mill Pond.; Two buildings totaling 14,035 square feet; one building is currently leased.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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427 Steer St
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