Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    0000 Merriman Road New Boston, MI 48164

    View on Map
    For Sale
    $130,000

    Vacant Land - New Boston, MI

    Lot size:
    4.00 Acres
    Added:
    Apr 30, 2025
    Days on Market:
    337
    Last Refresh:
    Apr 1 at 6:06 pm

    Property Features for 0000 Merriman Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    75060990017200
    Lot size
    4.00 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    798

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michelle Saward

    Listing agent Michelle Saward

    Listing office EXP Realty 3277 West Road, MI

    Listing date Apr 30, 2025

    MLS# 20250030810 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Residential Land in New Boston

    The property is a 4-acre residential land parcel located in New Boston, Michigan. It features a 60 ft easement, which could potentially serve as a road. The lot includes a wooded area situated behind the former location of 22440 Merriman Rd, which has been demolished.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Boston
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4023
    Latitude
    42.1166

    Nearby Similar for Sale

    • $595,000
      3,450 SF

      Restaurant, Bar, and Rental Units

      Restaurant and bar with two income-generating rental units.
      28080 WALTZ Road, New Boston, MI 48164
      View Details
    • $125,000

      New Boston Commercial Land Available

      4.37 acre commercial and light industrial land for sale.
      0000 Huron River Drive, New Boston, MI 48164
      View Details
    • $216,000

      Established Carry Out Restaurant Business

      Turnkey restaurant business for sale in New Boston, Michigan.
      21001 Middlebelt, New Boston, MI 48164
      View Details
    • $92,400

      Residential Lot in New Boston

      5-acre residential lot ready for your dream home.
      26055 Martinsville Road, New Boston, MI 48164
      View Details
    • Contact for pricing
      50 SF

      Land Available Near I-275

      5-50+/- acres available for sale near I-275 in New Boston.
      34595-34887 Sibley Rd, New Boston, MI 48164
      View Details
    • Contact for pricing

      Land Available Near Metro Airport

      5-50+/- acres of land suitable for commercial development.
      34595 Sibley Rd, New Boston, MI
      View Details
    • $295,000

      Wooded Land in Huron Township

      Nearly 18 acres of wooded property ready for your dream home.
      Vacant MERRIMAN Road, New Boston, MI 48164
      View Details
    • Contact for pricing

      Land

      34595-34887 Sibley Rd, New Boston, MI 48164
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land with easement in New Boston, Michigan.
    Where is this land located?
    The property is located at 0000 Merriman Road New Boston, MI.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: 60 ft easement offering potential road access.; Wooded lot providing a natural setting.; Vacant land ready for development, offering a blank canvas.
    (734) 322-3302
    We can help!
    Listing Contact
    Michelle Saward
    Real Estate License ID: 6506046675
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!