20195 Woodruff

Vacant Land for Sale
Catylist Listing ID: 30020636
Property Subtypes: Residential (Single Family)
Gross Land Area: 55 Acres
Sale Price: $495,000
Unit Price: $9,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/1/2020

Overview / Comments

Site Plan Approved, Consent Judgement in place, All Utilities are on site, Street Scrapes, Landscape, & Waterscape, Walking Paths, Monument Signage, Paved Roads, Clear and Level Development Sites. Cambridge Meadows Sub #5 & Grand Lakes Condominium is a 55 +/- Acre, very nice site planned development located just off of I-75 in Brownstown Twp. MI. The land is ready to be developed today and has access to it via existing Cambridge Meadows Subs 1-4 located on the south side of Woodruff Rd. The entire project can be down zoned to accommodate all single family detached housing all or part. Proved track record with adjacent Cambridge Meadows Subs 1-4 consisting of 360 homes, 1,625 - 3,100 Sq. Ft. which are currently selling in the $200 - $300,000 range. Newer homes, built after 2014 in this area are currently being sold at an average and median of $135 to $142 per square foot. New home sold prices ranging from $224,000 to $375,000. Median cumulative days on market 76.
This property has a completed site plan which has been approved for up to (195) residential units. Single family detached sites are market standard with minimum lot size being 70’ x 125’. The current plan has (39) single family home sites and 39, 2 to 8 unit cluster condo buildings with 156+ units planned. This plan can be altered. Access is designed and available from the adjacent Cambridge Meadows Sub and also directly off of Woodruff Road. Existing scenic bike/walking path in place along Woodruff Rd which connects to the Lake Erie Metro Park, gold course and wild life refuge. The Property is located 1 mile from Lake Erie & Lake Erie Metro Parks, Marina, Detroit River International Wildlife Refuge, golf course. Newer commercial shopping center district on Gibraltar Rd, 1 mile north includes Kroger, and all supporting retail needs. Direct access to I-75 on Gibraltar Rd 1 mile north and Huron River Drive 1 mile south. Award winning Gibraltar High School & Middle School located on Woodruff Rd one mile east.
Parcel Winter Summer Total

27 Acre $2,888 $5,939 $8,827
12 Acre $1,324 $2,868 $4,192
14 Acre $1,453 $3,148 $,4601
Totals $5,665 $11,955 $17,260

Attachments & Media

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Downriver South
Tax ID/APN: 70151990001702/07151990003704/70151990003703
Part of Planned Development?: Yes
Development Name: Cambridge Meadows & Grand Lakes Condos
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,569 33,800 82,694
Median Age: 36.63 38.72 40.7
Households: 2,289 12,989 32,428
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