Portage E Centre Land for Development

Vacant Land for Sale
Catylist Listing ID: 30217681
Property Subtypes: Multi-Family, Office, Self Storage
Gross Land Area: 7 Acres
Sale Price: $521,500
Unit Price: $74,500 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/22/2019

Overview / Comments

Here is prime land on E Centre just East of Lovers Lane. It was previously
a greenhouse complex. Now the green houses have been removed and we
have seven (7) acres of flat land ready for development. There is 264 feet of
frontage on E Centre and the depth is 1155 feet. The land is clear of trees and
flat. Soil is primarily Brady Sandy Loam. Water and sewer are readily available.
This property lends itself to building of townhouses or condos. The City of Portage has already approved a large apartment /townhouse development. So getting another approval will be much easier.The ten acres to the West just closed and set the comparable price for this property. Now if you need a lender approval the comparable is there. This is PRIME property for an assisted living complex. There are dentist, doctors, lawyers, senior center, etc. nearby.
If you look to the west one lot you will see a large complex being built. This will be a 74 apartment complex. The tenants will all need assistance of some kind.
Look at the additional pictures of that complex and you will see what I mean.

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Kalamazoo
Taxing Authority: Portage
Tax ID/APN: 391000014025O
Zoning: R1B
Property Located Between: Between Lovers Lane and Portage Rd
Property Visibility: Excellent
Legal Description: Provided at Broker's Office
Largest Nearby Street: Westnedge
Feet of Frontage: 264
Highway Access: Near I94 and Hwy 131
Airports: Kalamzoo/Battle Creek Inter. Airport
Site Description: Site was formerly a greenhouse. Land is flat very little clering needed.
Area Description: There are many doctors offices, attorneys, dentists, credit unions, banks and near by the Portage library and senior center.
Lot Frontage: 264
Lot Depth: 1155
Zoning Description: Currently R1B however the City would convert to a PUD
Topography: Level
Soil Type: Loam
Available Utilities: Electric, Water, Gas, Sewer, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,898 39,258 89,086
Median Age: 44.49 38.87 37.88
Households: 1,670 16,601 37,660
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