Commercial Real Estate In Michigan -  Jonathan Brateman Properties
Commercial Realestate Properties represented by Jonathan Brateman Properties
Call Jonathan Brateman Properties Now at 248-477-5000

What determines the value of vacant land?

There's an old adage that "value is determined by what people are willing to pay for it". This is why working with a professional who understands the market and can justify his analysis is very important.

Zoning ordinances enacted by the municipality dictate the use of a property. These ordinances can be subject to change or modification. Jonathan Brateman has had a great deal of experience in those areas, serving on the Southfield Zoning Board of Appeals for three and one-half years, four years on the Southfield City Council and having worked for many years as the Legislative Affairs Chairman of the Novi Chamber of Commerce.

There are classifications of property with uses and land use qualifiers in every city. The property owner should work with a real estate professional who should investigate these issues.

EXAMPLE: A 1.0 acre property with a B-3, general business, zoning clasification has much more value than an R-1 ( single lot ) classification, because the value of the income property that could be built on the B-3 property is generally much more valuable to a developer than the house site.

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Jonathan Brateman

40015 Grand River
Suite 105
Novi, Michigan 48375

(248) 477-5000
FAX: (248) 919-5976

Commercial Realestate Properties represented by Jonathan Brateman Properties




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