N US 31 Highway

Vacant Land for Sale
Catylist Listing ID: 29776700
Property Subtypes: Industrial, Office, Retail, Self Storage, Other
Gross Land Area: 38.39 Acres
Sale Price: $699,000
Unit Price: $18,207 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/17/2017

Overview / Comments

PRICE REDUCED - SHOW YOUR BUYERS NOW! 38.4 acres of Prime Development Land in a commercial growth area at US 31/M-139 Highway interchange. Parcel is UNIQUE - largest site adjacent to the Interchange with frontage on two roads (Edgewood Dr and M-139). Strong traffic counts. An area of the site has been perked. Has 2 acre deep water pond, hardwoods and ravine. Recently enacted ''place-based'' zoning is highly flexible and can support High Density Retail (PUD), High Density Housing, light industrial, equestrian R.V. park, etc.
Investment or development could coincide with the new ''State of the Art'' EXPO and Equestrian Center being planned for approximately 1.5 miles S.E. from the property (across from Andrews University) http://expoarena.org/, http://cstonealliance.org/index.php/ Markin consulting has stated this Center is expected to generate $30 million annually in revenue within a 25 mile radius. The EXPO will attract hundreds of thousands of people from across the country to attend the exciting lineup of events including national equine shows, music concerts, trade shows, and wind festivals.
Sewer and water is at the East side of the interchange; an extension to the property is possible within 5 years. M-139 is the Major truckline connecting interchange and South Bend to St Joseph, Benton Harbor, Harbor Shores and Whirlpool Headquarters to the north.
Recent sales of adjacent and connecting parcels have yielded a reported $45k/$40k/acre. Sellers are offering subject parcel at a reduced cost due to recent accident/life plan change. Parcel may be subdivided and seller financing may be available to qualified buyer.

Financials

Finance Data Year 2014
Real Estate Taxes - Annual($) $2,253 (Annual)

Additional Details

Nearest MSA: Niles-Benton Harbor
County: Berrien
Tax ID/APN: 15-0010-0004-09-9
Zoning: MIXED USE
Property Located Between: M139 & US 31
Side of Street: West
Road Type: Paved
Legal Description: On file in listing office.
Largest Nearby Street: US 31
Feet of Frontage: 338
Transportation: Highway
Highway Access: US 31
Lot Frontage: 338.87
Lot Depth: Irregular


Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,351 22,469
Median Age: 35.5 39.61
Households: 3,580 7,961
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