All Forum Posts by: Steven Helminen

Thank you for the insight gentlemen! I am located in Brighton, MI (southeast Michigan) with a small 1150 sqft SFR on 1.88 Ac lot. My neighbor to the west is a church and the 8.5 Ac lot that the developer has under contract is to the east and already has access to the road. Without seeing the drawings, I would believe my property would be one of the side lots and less critical to the development.

My property and the surrounding properties are all zoned residential. The developer I spoke to mentioned that he would have to work with the municipality to have the lots rezoned.  

The purchasing of the properties, rezoning, and demolition work all pose significant cost to the developer to prepare the site. 

@Greg Dickerson thanks! After the comps, are there other levers to pull? 

Thanks @Aaron K.! Agreed, he would demolish the existing house for the future development. 

A developer currently has a ~8.5 acre parcel under contract that mine and 3 neighbors share a boundary with. He is interested in buying us out to develop independent living homes for senior citizens. How do I begin to assess what I should sell my property at if we begin to negotiate? He quoted $/acre as a metric he uses to assess deals. I am open to selling! 

I have not given him my selling price and would like him to name his price first. Any help direction would be much appreciated!