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    For Sale (21)

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    Main Street Commercial Property
    $379,900
    2,300 SF

    Main Street Commercial Property

    High-visibility 2,300 sq ft commercial property on 0.41 acres.

    305 S Main St, Romeo, MI 48065
    View details
    Residential Land in Chesterfield, MI
    $135,000
    3.23 Acres

    Residential Land in Chesterfield, MI

    3.2 acres building site with utilities in Chesterfield Township.

    51910 S Foster Rd, Chesterfield, MI 48047
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    Established Market in Shelby, MI
    $125,000
    4,200 SF

    Established Market in Shelby, MI

    Market with bakery, meat, and Mediterranean kitchen in Shelby.

    45701 Hayes Rd, Shelby, MI 48315
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    Vacant Lot Near Recreation Park
    Contact for pricing
    0.18 Acres

    Vacant Lot Near Recreation Park

    Residential vacant land near Caseville Township Recreation Park.

    4772 Lori Lu Dr, Caseville, MI 48725
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    Residential Land in Ray Township
    $79,900
    2.00 Acres

    Residential Land in Ray Township

    Two-acre residential land with wooded and private surroundings.

    32 32 Mile Rd, Ray Twp, MI 48096
    View details
    Roseville Vacant Commercial Land
    $399,900
    1.00 Acre

    Roseville Vacant Commercial Land

    Two-acre vacant commercial lot in Roseville, Michigan.

    30935 Utica Rd, Roseville, MI 48066
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    5.46 Acres Vacant Land Parcel
    $215,000
    5.40 Acres

    5.46 Acres Vacant Land Parcel

    5.46-acre vacant land parcel in Bruce Twp, Romeo, MI.

    Bordman Rd, Romeo, MI 48065
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    Detroit Commercial/Industrial Opportunity
    $550,000
    2,176 SF

    Detroit Commercial/Industrial Opportunity

    Large commercial/industrial building with office and bay garages on fenced lot.

    12520 Morang Ave, Detroit, MI 82001
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    Residential Land Near Lake James
    Contact for pricing
    0.91 Acres

    Residential Land Near Lake James

    0.91 acre residential lot with lake access in Prudenville.

    00 Lake James Rd, Prudenville, MI 48651
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    Wooded Land Near Oak Beach
    $104,900
    10.97 Acres

    Wooded Land Near Oak Beach

    10.97 acres of wooded commercial land near Oak Beach.

    Oak Beach Rd, Port Austin, MI 48467
    View details
    Residential Land in Chesterfield Twp
    $195,000
    2.31 Acres

    Residential Land in Chesterfield Twp

    2.31 acres of residential and multi-family zoned land.

    00 Jefferson Ave, New Baltimore, MI 48047
    View details
    Commercial Vacant Land For Sale
    $65,000
    0.36 Acres

    Commercial Vacant Land For Sale

    Vacant commercial land with utilities and river view.

    5970 Pointe Tremble Rd, Algonac, MI 48001
    View details
    Vacant Corner Lot in Pontiac
    $95,000
    0.14 Acres

    Vacant Corner Lot in Pontiac

    Highly visible corner lot suitable for various service-based businesses.

    Pontiac, MI 48340
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    Vacant Land in Pontiac, MI
    $95,000
    0.31 Acres

    Vacant Land in Pontiac, MI

    Highly visible corner lot with potential for various business uses.

    Pontiac, MI 48340
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    Vacant Land in Utica, MI
    $100,000
    0.73 Acres

    Vacant Land in Utica, MI

    Nearly one-acre parcel suitable for custom home or investment.

    0000 25 Mile Rd, Utica, MI 48316
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    Lake St. Clair Vacant Land
    $260,000
    0.23 Acres

    Lake St. Clair Vacant Land

    Residential land on Lake St. Clair for custom home.

    37384 Lakeshore Dr, Harrison Twp, MI 48045
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    Canal Front Buildable Lot
    $37,000
    0.30 Acres

    Canal Front Buildable Lot

    Vacant land ready to build on with public utilities.

    00 River Rd, East China, MI 48054
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    Residential Lot in Growing Community
    $49,900
    0.46 Acres

    Residential Lot in Growing Community

    Half-acre residential lot ideal for custom home with walkout basement.

    000 Gratiot Ave, New Haven, MI 48048
    View details
    Sand Point Vacant Residential Land
    $45,000
    0.57 Acres

    Sand Point Vacant Residential Land

    Residential land in Sand Point, ready for your dream home.

    4501 Shelby Ann Ct, Sand Point, MI 48755
    View details
    Lake James Community Lot
    Contact for pricing

    Lake James Community Lot

    0.9 acre lot with lake access.

    00 Lake James Rd, Prudenville, MI 48651
    View details
    Large Garage on Fenced Lot
    $550,000

    Large Garage on Fenced Lot

    Over 2000 SF building on a half-acre fenced lot.

    12520 Morang Dr, Detroit, MI 82001
    View details

    Leases and Sales on Map

    • For Sale

    Properties for sale

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    Keller Williams Realty - Lakeside Market Center
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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
    Keller Williams Realty - Lakeside Market Center
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