Special Purpose Space For Sale @ 21700 Marlow St.

FOR SALE / REDEVELOPMENT OPPORTUNITY
IDEAL for RENTALS / MULTIFAMILY / APARTMENETS / SENIOR LIVING

General Conditions: Flat land, Remainder parcel undeveloped and treed; abutting Dewey Park on 4 acres

Surface Parking 60 (1.71/1,000)

Number of Units: In addition to 25 classrooms per (2) building, the school has a functional gymnasium, kitchen, lunchroom, multiple court yards, offices, library, lounge, and playground abutting Dewey Park and the city’s vacant parcel.

25 classrooms in the open/operational building with another 25 classrooms under renovation Summer 2021. Total existing capacity is 50 units with equipped with individual HVAC systems.

The site has immediate potential for an additional 50-100 units. As the remainder parcel may be able to build new another 100 rental units – possibly total of 200 potential rental units on the site.

Parcel ID: 25-31-176-007
Occupancy: One Level | Two buildings
Renovations: Phase I: Occupied by Charter School | Phase II: Underway full renovations
Offer Price: $4.895 Million

LOCATION + LOCATION + LOCATION: Minutes from the City of Southfield, the City of Oak Park’s former school sits on 2 acres with a remainder parcel on 4 acres. The 6-acre property abuts the city-owned Dewey Park on 4 acres total.

Across the street are the Stratford Apartments, a 134-unit, 2-story apartment community with near zero (0) vacancy (built 1957, 10 buildings, average rents $1,300)/very low turnover. Homes in the immediate area have sold $125,000 - $215,000. Nearby is the Albert E. Einstein Elementary School and Pepper Elementary School with better than average ratings. City is very proactive and made many improvements to the educational system.

Major Employers: Ascension Providence Hospital MAIN HQ, Providence Medical Center of Doctors, Oakland Community College – Southfield, Oak Park Schools Administration Building, US Post Office, Value Wholesale
Major Retailers: McDonald’s, Taco Bell, Office Depot, Footlocker
Nearby: Northland Apartments, Northland Chrysler Dodge Jeep RAM
Access: Lodge Freeway (M-10), Southfield Freeway (M-39), Walter P. Reuther Freeway (I-696)

Traffic Counts:
Greenfield Rd & James St 32,259 VPD
Greenfield Rd & 9 Mile Rd 39,673 VPD
Greenfield Rd & Northland Dr 40,082 VPD This space offers accomodations for: school.