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    Real Living Kee Realty

    15501 Metropolitan Parkway, Ste 105, Clinton Twp, MI 48036
    (586) 840-0400
    Web Site
    Size: 10+ agents

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    Property Types

    • Land
    • Commercial Sale

    Listings

    For Sale (14)

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    Imlay City Vacant Land Parcel
    $120,000
    5.18 Acres

    Imlay City Vacant Land Parcel

    5.18 acre residential land with lake view and wooded areas.

    A2 Hunters Creek Rd, Imlay City, MI 48444
    View details
    7.79 Acres Vacant Land
    $95,900
    7.79 Acres

    7.79 Acres Vacant Land

    Vacant land ready for your dream home in Columbus, MI.

    00 Weber Rd, Columbus, MI 48063
    View details
    Vacant Land in Armada, MI
    $500,000
    19.25 Acres

    Vacant Land in Armada, MI

    19.25 acres of vacant agricultural land in Armada, Michigan.

    Romeo Plank Rd, Armada, MI 48005
    View details
    Wooded Land Parcel on M-25
    $195,000
    18.10 Acres

    Wooded Land Parcel on M-25

    18.1 acre wooded residential land parcel in Lexington, Michigan.

    00 M 25, Lexington, MI 48450
    View details
    Residential Land in Harrison Twp
    $44,900
    0.11 Acres

    Residential Land in Harrison Twp

    Vacant land with utilities available, ready for new construction.

    Prentiss, Harrison Twp, MI 48045
    View details
    Kenockee Vacant Land with Lake
    $840,000
    27.50 Acres

    Kenockee Vacant Land with Lake

    27.5 acres of land featuring a stocked, clear lake.

    8860 Bryce Rd, Kenockee, MI 48006
    View details
    Versatile Building Near Tawas Shoreline
    $162,000
    2,234 SF

    Versatile Building Near Tawas Shoreline

    2,234 SF commercial building near lakes, ideal for entrepreneurs.

    3498 Indian Lake Rd, National City, MI 48748
    View details
    Vassar Land Approved for Cannabis
    $255,000
    7.35 Acres

    Vassar Land Approved for Cannabis

    7.35 acres approved for cannabis cultivation in Vassar, MI.

    6830 Sandy, Vassar, MI 48768
    View details
    Cemetery with Development Potential
    $89,900
    7.06 Acres

    Cemetery with Development Potential

    Cemetery for sale in Fraser, MI with expansion possibilities.

    15685 E 14 Mile Rd, Fraser, MI 48026
    View details
    Vacant Land in Marine City
    Contact for pricing
    0.14 Acres

    Vacant Land in Marine City

    Vacant lot suitable for commercial or residential development with utilities.

    Parker St, Marine City, MI 48039
    View details
    Dearborn Heights Vacant Residential Land
    Contact for pricing
    0.13 Acres

    Dearborn Heights Vacant Residential Land

    Vacant land in Dearborn Heights, build your dream home!

    000 Currier St, Dearborn Heights, MI 48125
    View details
    Vacant Land Near Saint Clair
    $39,900
    0.12 Acres

    Vacant Land Near Saint Clair

    Buildable vacant lot across from Canal and Saint Clair river.

    00 Roselawn St, Algonac, MI 48001
    View details
    Smiths Creek Vacant Land Parcel
    $189,900
    4.52 Acres

    Smiths Creek Vacant Land Parcel

    Vacant land with frontage on two roads, utilities available.

    Wadhams Rd, Smiths Creek, MI 48074
    View details
    Fraser Cemetery Investment Opportunity
    $1,200,000
    7.06 Acres

    Fraser Cemetery Investment Opportunity

    High-potential cemetery with 1500+ plots.

    15685 14 Mile Rd, Fraser, MI 48026
    View details

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    Real Living Kee Realty
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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
    Real Living Kee Realty
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