DETROIT – One of the last pieces of developable land in one of the Detroit area’s most popular suburbs is scheduled to be offered for sale via live, open outcry auction on Tuesday, June 7th, 2016.
The 10.49-acre site — which is currently zoned for a variety of commercial uses or could properly be rezoned for residential purposes — is ideally located at the intersection of 14 Mile Road and Northwestern Highway in Farmington Hills, Michigan, just east of Orchard Lake Road. The auction sale enables developers and investors the final opportunity to acquire a large, buildable site in the heart of a thriving southeastern Michigan submarket.
The one-day event is being conducted by Madison Hawk, a national real estate firm and industry leader specializing in Structured Accelerated Sales. The suggested opening bid for the property is $1,150,000.
The auction will take place at the Holiday Inn Express and Suites, 32769 Northwestern Highway, Farmington Hills, MI 48334. Registration will begin at 10 a.m., with the auction commencing at 11 a.m. EDT. Remote bidding will also be available.
“The seller has decided to sell this prime asset in order to monetize their equity in the property and expand their core hospitality business,” says Jeff Hubbard, President of Madison Hawk. “The owner is presenting area builders and developers one of the few remaining chances to purchase a large site that can be used for a signature commercial property or developed into a mixed-use residential or entirely residential neighborhood, depending on market needs.”
32550 Northwestern Highway lies in the Orchard Lake submarket, home to a dense residential population and a prospering retail and commercial center that has drawn national retailers such as Whole Foods, Home Depot, Best Buy, Marshall’s Home Goods, Sam’s Club, Buy Buy Baby, Kohls and many others.
On-Site inspections will be available for the property at 10 a.m. on May 10th and 17th, and June 1st. A detailed Due Diligence Packet is available and contains specific information related to the properties, the auction and the Terms of Sale.
For additional information on this offering, please call 1-800-547-1045 or visit www.MadisonHawk.com/auctions/14NWH
About Madison Hawk
Madison Hawk is a national real estate firm and industry leader specializing in Structured Portfolio Sales and Capital Market Solutions to complex real estate situations across all asset classes. The Madison Hawk team is among the most experienced in the industry, having designed and executed over $10 billion worth of commercial and residential sales across all asset classes including; apartment buildings, office buildings, industrial buildings, shopping centers, development land, condominium developments, luxury homes and other special purpose properties. http:www.madisonhawk.com