1215 Stoney Creek Rd
Oakland Township, MI 48363
Land For Sale · 40.00 ac

Exceptional 40-acre Estate Site! Best of its kind in Southeast Michigan! Perfect for building your large upscale Mansion or Dream House. The rolling meadows, ponds, mature trees and open areas are breathtaking! There are multiple walkout elevations and desirable building sites for your custom home. In desirable Rochester School District. The meadows and trees with peaceful ponds make this property a true paradise. Located on paved Stoney Creek Road. Across from new upscale Vista subdivision development. Myth Golf Course is just across the street. The property has a beautiful newly renovated 3 bed 1.5 bath home that has tenants paying $2,000 per month. Tenants can stay or leave with 2 months notice. Home would make a wonderful guest or caretaker house. Also potential as development. Many Options! A land contract is offered with $445,000 down with interest only payment with a 15 year Balloon at 6% interest. The recent price change reflects that the sellers will keep the Verizon lease on 1/10 acre. Or-the buyer can acquire the ownership of the lease which currently pays $1700 per month for an additional fee.Exceptional development site. Perfect elevations/terrain for development. Exceptional 40 acre development site, with multiple walkout elevations and desirable pond sites in sought after Rochester School District on paved Stoney Creek Road. Natural gas at road. Across from new subdivision development. Myth Golf Course is just across the road. Township density for this property is 1.4-acre low residential density which adds great development potential. Currently has a 3 bed, 1.5 bath home on the property vacant with tenants. Rented for $2,000 per month and tenants can stay or leave with 30 day notice. Also has a 5 year renewable lease from Verizon, for $1,700 per month providing a continuous cash flow (value with a cap rate of 6% is $283,000). Rare investment opportunity for development, short term residential lease and long-term cash flow from Verizon lease. Both leases provide owner with $44,000 per year. Unlimited options!