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    Joseph P Van Esley, Westland, MI

    License ID: 6501185636
    Van Esley Real Estate
    Association
    Greater Metropolitan Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (734) 459-7570
    Office Address:
    44675 Joy Rd, Canton, MI, 48187

    Performance

    Listings
    16

    Listings

    For Sale (13)

    View map
    • $400,000

      7.2 Acres Vacant Land

      7.2 acres of vacant land with Logistics & Manufacturing Zoning.
      6460 Rawsonville Rd, Ypsilanti, MI 48197
      View Details
    • $7,000,000

      Commercial Land on Sibley Road

      Commercial land available on Sibley Road, various sizes.
      0000 Sibley Sibley Rd, Romulus, MI 48174
      View Details
    • $5,181,900

      Commercial Land Near Ann Arbor

      37.55 acres of commercial land, freeway exit, all utilities.
      0000 N Territorial Rd, Whitmore Lake, MI 48189
      View Details
    • $1,985,000
      Pending

      Land Near Proposed Downtown Area

      Land for sale near Van Buren Township's proposed downtown.
      44804 Tyler Rd, Belleville, MI 48111
      View Details
    • $3,750,000

      Prime Canton Location Land Opportunity

      18.59 acres for business, retail, landscaping, and nursery.
      50145 Ford Rd, Canton, MI 48187
      View Details
    • $2,700,000

      26.96 Acres in Salem Township

      26.96 acre property in Salem Township, Washtenaw County.
      9205 6 Mile Rd, Northville, MI 48168
      View Details
    • $499,000

      Vacant Land Near Water Feature

      3.85 acres of commercial land with development potential.
      890 Avis Dr, Ann Arbor, MI 48108
      View Details
    • $420,000
      2,308 SF

      Turn Key Restaurant For Sale

      Successful restaurant with drive-thru, equipment included, ready for new owners.
      20804 Plymouth Rd, Detroit, MI 48228
      View Details
    • $750,000

      Industrial Land Near Willow Run

      Light industrial land close to Willow Run Airport.
      0000 Beck Rd, Belleville, MI 48111
      View Details
    • $1,100,000

      5949 Gotfredson Rd, SalemTownship_Washtenaw, MI 48170

      Commercial land
      5949 Gotfredson Rd, Plymouth, MI 48170
      View Details
    • $3,500,000

      Prime Land I-75 Access

      Approximately 62 acres of commercial land adjacent to I-75.
      0000 S Stony Creek Rd, Monroe, MI 48162
      View Details
    • Contact for pricing

      Commercial Land on Grand River

      1.34 acres of commercial land with development potential.
      2607 E Grand River Ave, Genoa Township, MI 48843
      View Details
    • Contact for pricing

      Corner Parcel on Michigan Avenue

      Corner parcel on heavily traveled Michigan Ave for sale.
      45109 Michigan Ave, Canton, MI 48184
      View Details

    For Lease (3)

    View map
    • Contact for pricing
      7,500 SF

      Historic Retail Space Near Park

      High-exposure retail space near Sleeping Bear Dunes National Park.
      10017 Front St, Empire, MI 49630
      View Details
    • $2,440 /Mo
      Pending

      Office Space Near Henry Ford

      Office space for lease, near new hospital facility.
      9313 N Haggerty Rd, Plymouth, MI 48170
      View Details
    • $2,000 /Mo

      Commercial Space on Michigan Avenue

      Commercial building with three units available for rent.
      731 W Michigan Ave, Saline, MI 48176
      View Details

    Leases and Sales on Map

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    • For Lease

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    Joseph P Van Esley, Westland, MI
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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.

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