16
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$1,250,000
Est. payment /mo
5,011 SqFt
New
2440, 2480, 2400 S Baldwin Road Lake Orion, MI
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,011 sqft
Price per Sqft $249
Municipality Orion Charter Twp
Subdivision Orion Charter Twp
MLS Listing ID 20261069544
Year Built 1999
Annual Tax Amount $9,100
Lot Size 1.810 Acres
Acres 1.81
Lot Dimensions 493x268x458x145
Source Realcomp
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
Zoning Residential
Direction take I-75 to exit 84-A then North of Baldwin To property 3 miles on the left
Body of Water Mill Lake
Rooms
Basement Basement
Interior
Heating Forced Air, Radiant
Exterior
Waterfront Description Lake
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Lake Orion
Others
Tax ID 0920151057
Listed by Tepee Realty
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