School property valued at more than $1.1 million has been for sale more than six months with no buyer in sight.
‘We’ve had some interested parties on both sites but no offers,? said Rich Mahoney, of Real Estate One Professionals of Brandon Township, who is listing the properties for the school district.
About six individuals have expressed interest in the properties.
The sale includes a 23-acre section of property along Oakwood Road, just north of Leece Road, purchased with bond extension dollars in December 2006 for the construction of the new Oakwood Elementary School. Purchased at a cost of $500,000 from Tucker Investment Co. LLC, the acreage was ultimately not utilized by the district when a 75-acre parcel near Oakwood and Hadley roads was purchased in May 2007.
Also on the market is the now vacant Sherman Lifelong Learning Center, 300 Sherman Court. The 11,000 square-foot building on 2.43 acres in the Village of Ortonville is a 50-year-old converted nursing home facility purchased by the district in the mid-1990s. The building was home to the CHOICES Alternative Education and the early childhood Pre-Kindergarten, which were moved to H.T. Burt Elementary School during the summer.
The 23-acre parcel, zoned residential, is currently offered at $500,000, and the Sherman Lifelong Learning Center, zoned for commercial use, is at $600,000. Both properties are available.
‘We need to get these properties back on the township tax roll’since the school owns the property there’s no taxes paid,? he said. ‘The Sherman property is ideal for a daycare with some renovations.?
Mahoney said that property values in several areas have started to hit bottom and turn around.
‘Right now it continues to be a buyer’s market,? said Mahoney. ‘It’s a good time to make an investment.