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    For Sale (20)

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    Residential Lot in Dearborn Heights
    $30,000

    Residential Lot in Dearborn Heights

    Residential lot in a convenient Dearborn Heights location.

    25527 New York St, Dearborn Heights, MI 48125
    View details
    Waterfront Lot on Cass Lake
    $289,900

    Waterfront Lot on Cass Lake

    Premium vacant lot in Venice of the Lakes neighborhood.

    1384 Rossdale Dr, Waterford, MI 48328
    View details
    Farmington Hills Mobile Home Park
    $600,000
    480 SF

    Farmington Hills Mobile Home Park

    22-unit mobile home park in a desirable Farmington Hills location.

    28730 Grand River Ave, Farmington Hills, MI 48336
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    Mixed-Use Building in Deckerville, MI
    $175,000
    5,084 SF

    Mixed-Use Building in Deckerville, MI

    Commercial building with residential units in Deckerville, Michigan.

    3462 Main St, Deckerville, MI 48427
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    Farmington Hills Commercial Property For Sale
    $500,000
    5,416 SF

    Farmington Hills Commercial Property For Sale

    Commercial property in Farmington Hills, Michigan, totaling 5,416 square feet.

    28728 Grand River Ave, Farmington Hills, MI 48336
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    Detroit Collision Shop with Land
    $219,900
    0.11 Acres

    Detroit Collision Shop with Land

    Collision shop with additional land in Detroit, Michigan.

    14904 E Seven Mile Rd, Detroit, MI 48205
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    Romulus Land For Sale
    $70,000
    2.00 Acres

    Romulus Land For Sale

    Almost 2 acres of land zoned for light industrial use.

    Ecorse Rd, Romulus, MI 48174
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    Residential Land in Bruce Township
    $80,000
    1.00 Acre

    Residential Land in Bruce Township

    One-acre lot in Romeo School District, build your dream home.

    74022 Gould Rd, Bruce Twp, MI 48065
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    Wooded Lot on Paved Road
    $69,900

    Wooded Lot on Paved Road

    Residential land with privacy in Lapeer Twp, Michigan.

    Morris Rd, Lapeer, MI 48446
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    Residential Land in Davison Township
    $68,000

    Residential Land in Davison Township

    Land for sale in new Davison development with city utilities.

    7165 Donegal, Davison, MI 48423
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    Residential Land in Dearborn Heights
    $30,000
    0.13 Acres

    Residential Land in Dearborn Heights

    Residential land available in a desirable Dearborn Heights neighborhood.

    Hopkins St, Dearborn Heights, MI 48125
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    Residential Land in Chesterfield Township
    $105,000
    1.00 Acre

    Residential Land in Chesterfield Township

    Over an acre lot ready for your dream home.

    27100 25 Mile Rd, New Baltimore, MI 48051
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    Vacant Land Near M-24
    $350,000
    27.00 Acres

    Vacant Land Near M-24

    27-acre vacant land parcel near freeways, shopping, and dining.

    4 Lapeer Rd, Oxford, MI 48371
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    LAND - Metamora Twp, MI
    $99,900

    LAND - Metamora Twp, MI

    Residential land & home lots

    1 Lapeer Rd, Oxford, MI 48371
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    Detroit Duplex Investment Opportunity
    $115,000
    1,700 SF

    Detroit Duplex Investment Opportunity

    Duplex in Detroit, ideal for investors or house hacking.

    19500 Hoover St, Detroit, MI 48205
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    Turn-Key Cannabis Grow Facility
    $1,400,000
    9,200 SF

    Turn-Key Cannabis Grow Facility

    State-of-the-art cannabis grow facility in Vassar, Michigan.

    3896 Crooked Creek Dr, Vassar, MI 48768
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    Expansive 25-Acre Lot
    $1,250,000
    25.00 Acres

    Expansive 25-Acre Lot

    Build your dream home on this 25-acre lot.

    Bullard Rd, Hartland Twp, MI 48430
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    Residential Lot in Dearborn Heights
    $30,000

    Residential Lot in Dearborn Heights

    Residential lot in a convenient Dearborn Heights location.

    25521 New York St, Dearborn Heights, MI 48125
    View details
    Vacant Land Near M-24
    $385,000
    32.00 Acres

    Vacant Land Near M-24

    32+ acres of vacant land in prime location.

    5 Lapeer Rd, Oxford, MI 48371
    View details
    Detroit Collision Shop with Land
    $219,900

    Detroit Collision Shop with Land

    Collision shop with vacant parcels in Detroit for sale.

    14904 E Seven Mile Rd, Detroit, MI 48205
    View details

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    GHK of Michigan Inc
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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
    GHK of Michigan Inc
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