Multi-Family 24 Acre Development Opportunity - Fruitport, MI

Vacant Land for Sale
Catylist Listing ID: 30164056
Property Subtypes: Multi-Family
Gross Land Area: 24 Acres
Sale Price: $2,640,000
Unit Price: $110,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/20/2021

Overview / Comments

Apartments & Condominiums. 24 acre parcel is part of the Greenway Crossing PUD. The area has a strong employment base but needs additional quality housing. The area lacks fully amenitized apartment communities; no new product has been added in more than 10 years. Existing condominiums are limited and have sold readily. Data indicates pent-up demand for both product types. The offering is for various parcels within the property. Offers for the purchase of the entire parcel will be considered.

Additional Details

Nearest MSA: Muskegon
County: Muskegon
Taxing Authority: Fruitport Township
Tax ID/APN: A portion of: 61-15-127-100-0016-00
Property Located Between: Pontaluna Road and Sternberg Road
Property Visibility: Excellent
Legal Description: Legal at listing office.
Largest Nearby Street: Sternberg Road and US-31
Area Description: The Subject Property is strategically located on Harvey Street and Quarterline Road along the Lakes Mall retail corridor.
Zoning Description: Mixed-Use PUD.
Part of Planned Development?: Yes
Development Name: Greenway Crossing
Topography: Level

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,384 22,053 70,318
Median Age: 45.9 41.74 40.4
Households: 600 8,779 28,368


Photograph of Listing Agent

Todd A. Kamps, CCIM | SIOR

Cherette Properties, LLC CARWM Member
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