Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Montrose, MI Title is generated by Realmo AI

    11038 Farrand, Montrose, MI 48457

    View on Map
    Claim this Listing
    For Sale
    $34,900

    Vacant Land - Montrose, MI

    Lot size:
    1.29 Acres
    Added:
    Jan 16, 2025
    Days on Market:
    490
    Last Refresh:
    May 21 at 9:06 am

    Property Features for 11038 Farrand

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    13-08-400-003
    Lot size
    1.29 Acres

    Taxes and HOA fees

    Tax Annual Amount
    541

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Karen Curtis

    Listing agent Karen Curtis License #122123

    Listing office Century 21 Signature Realty 720 E. Main St., Saginaw, MI

    Listing date Jan 16, 2025

    MLS# 50164976 Listing URL

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Over an acre of land
    • Potential to build a modular home (subject to township requirements)
    • Previously had a home on the property
    • Well and septic system potentially in place (condition unknown)
    • Seller is open to offers
    • Great location to rebuild

    Overview

    This property is a 1.29-acre vacant land parcel located in Montrose, MI. According to Montrose Township, the property is suitable for building a modular home, provided all requirements are met. The land previously had a home on it approximately 20 years ago. The condition of the existing well and septic system is unknown. The property is zoned for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon HVAC Service Garden Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Genesee
    State
    Michigan
    Longitude
    -83.8944139
    Latitude
    43.1911291

    Nearby Similar for Sale

    • $550,000
      10,478 SF

      Retail Building in Montrose, MI

      Former Family Dollar built in 2022, available for sale.
      10245 W Vienna Road, Montrose, MI 48457
      View Details
    • $68,000

      Secluded Wooded Land in Montrose

      4.87 acres of wooded land, ideal for recreation.
      East Road, Montrose, MI 48457
      View Details
    • $35,900

      Montrose Vacant Land For Sale

      2.57 acre residential lot near downtown Montrose, Michigan.
      13072 Marshall, Montrose, MI 48457
      View Details
    • $239,900
      1,550 SF

      Updated Mixed-Use Property in Montrose

      Updated 3-bedroom home with commercial zoning and ample parking.
      9326 Vienna, Montrose, MI 48457
      View Details
    • $1,400,000

      160 Acres with Lake and River

      160 acres with lake, river frontage, suitable for development.
      10241 N McKinley, Montrose, MI 48457
      View Details
    • $35,900

      Land Near Downtown Montrose

      2.57 acre lot, minutes from Montrose, utilities available.
      13072 Marshall Rd, MontroseCharterTownship_Genesee, MI 48457
      View Details
    • $25,000

      Residential Lot in Montrose

      Residential lot in Montrose with city water and sewer.
      Park Drive lot: 52 Park Dr, Montrose, MI 48457
      View Details
    • $25,000

      Residential Lot in Montrose, MI

      Residential lot with city water and sewer in Montrose.
      Park Drive lot: 51 Park Dr, Montrose, MI 48457
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Over an acre of vacant land ready for building.
    Where is this residential land & home lot located?
    The property is located at 11038 Farrand Montrose, MI.
    What is the asking price?
    The asking price for this property is $34,900.
    What are key features of this property?
    This property features: Over an acre of land; Potential to build a modular home (subject to township requirements); Previously had a home on the property
    (810) 577-3038
    We can help!
    Listing Contact
    Karen Curtis
    Real Estate License ID: 122123
    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

    Thank You for Inquiry
    11038 Farrand, Montrose, MI 48457
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!