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    For Sale (18)

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    Secluded Land Near Houghton Lake
    $120,000
    19.85 Acres

    Secluded Land Near Houghton Lake

    19.85 acres near Houghton Lake, borders state land.

    N Townline Rd, Houghton Lake, MI 48629
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    Greenville Multifamily Investment Opportunity
    $265,000
    0.30 Acres

    Greenville Multifamily Investment Opportunity

    Three-unit multifamily property in Greenville with income potential.

    120 E Montcalm St, Greenville, MI 48838
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    Updated Duplex in Kalamazoo, MI
    $119,900
    0.07 Acres

    Updated Duplex in Kalamazoo, MI

    Updated upper/lower duplex, ideal for owner-occupants or investors.

    1503 N Westnedge Ave, Kalamazoo, MI 49007
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    Kalamazoo Land For Sale
    $55,000
    0.16 Acres

    Kalamazoo Land For Sale

    Land zoned Live Work 1 with downtown views.

    209 E North St, Kalamazoo, MI 49007
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    Buildable Wooded Lot Near Lake
    $32,500
    0.60 Acres

    Buildable Wooded Lot Near Lake

    Wooded lot with private Lake Michigan beach access.

    5848 Jackson St, Coloma, MI 49038
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    Established Storefront on 2.6 Acres
    $250,000
    1,900 SF

    Established Storefront on 2.6 Acres

    Long-standing corner store with C1 zoning and development potential.

    2996 N Ionia Rd, Vermontville, MI 49096
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    Buildable Vacant Lot Available
    Contact for pricing
    0.14 Acres

    Buildable Vacant Lot Available

    Vacant lot in Muskegon Heights, suitable for new construction.

    2011 5Th St, Muskegon, MI 49444
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    Rockford Land in School District
    $119,900
    1.27 Acres

    Rockford Land in School District

    Land in Rockford School District, ideal for building a home.

    6302 Tiffany Ave NE, Rockford, MI 49341
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    Residential Lot in Battle Creek
    Contact for pricing
    0.10 Acres

    Residential Lot in Battle Creek

    Affordable residential lot suitable for building a home or investment.

    166 Grenville St, Battle Creek, MI 49014
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    Kalamazoo Land Build Opportunity
    Contact for pricing
    0.09 Acres

    Kalamazoo Land Build Opportunity

    Land available on Kalamazoo's East Side, build to suit.

    633 Trimble Ave, Kalamazoo, MI 49048
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    Land in Kalamazoo City Center
    Contact for pricing
    0.07 Acres

    Land in Kalamazoo City Center

    Cleared lot near city center, ready for development.

    130 W Frank St, Kalamazoo, MI 49007
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    Grand Rapids Land Opportunity
    Contact for pricing
    0.45 Acres

    Grand Rapids Land Opportunity

    0.45-acre parcel within Walker city limits.

    2296 Wilson Ave NW, Grand Rapids, MI 49534
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    Baseline Lake Land Parcel
    $210,000
    0.85 Acres

    Baseline Lake Land Parcel

    Exceptional surveyed lot on all-sports Baseline Lake.

    32Nd St, Allegan, MI 49010
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    Land Near Baseline Lake
    $50,000
    0.58 Acres

    Land Near Baseline Lake

    Surveyed land parcel close to all-sports Baseline Lake.

    32Nd St, Allegan, MI 49010
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    West Olive 7-Acre Land Parcel
    $279,900
    7.00 Acres

    West Olive 7-Acre Land Parcel

    7-acre lot in Robinson Township, build your dream home.

    112Th Ave, West Olive, MI 49460
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    Residential Land in Grandville Schools
    $95,000
    0.30 Acres

    Residential Land in Grandville Schools

    Build your dream home in a peaceful, convenient Wyoming location.

    4475 56Th St SW, Wyoming, MI 49418
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    Nine-Unit Multifamily Property For Sale
    $674,900

    Nine-Unit Multifamily Property For Sale

    Nine-unit multifamily property near parks, restaurants, and hospitals.

    415 W Walnut St, Kalamazoo, MI 49007
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    Kalamazoo Live Work Zoned Land
    $55,000

    Kalamazoo Live Work Zoned Land

    Live/Work zoned land with downtown views and high traffic.

    209 E North St, Kalamazoo, MI 49007
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    • For Sale

    Properties for sale

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    Request Owner's contact information
    Bellabay Realty LLC
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Bellabay Realty LLC
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