Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Jerome, MI Title is generated by Realmo AI

    11348 Oakwood Drive, Jerome, MI 49249

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Lot - Jerome, MI

    Type:Single Family Residence
    Lot size:
    0.20 Acres
    Added:
    Feb 23, 2026
    Days on Market:
    98
    Last Refresh:
    May 31 at 11:06 pm

    Property Features for 11348 Oakwood Drive

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    APN
    04-180-001-146
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    117.57

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    PENNY NOREIKA
    PENNY NOREIKA

    Listing agent PENNY NOREIKA License #6501271323

    Listing office RE/MAX Irish Hills Realty 14589 W US 223, MI

    Listing date Feb 23, 2026

    MLS# 25046506 Listing URL

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

    HighLights

    • Location: Find this property at coordinates -84.43269, 42.06324.
    • Additional property details are available upon request.
    • Description: Learn about the key features and benefits in the property description.
    • Compelling to potential buyers, this listing aims to please.
    • Key Amenities: Discover the key amenities designed to attract buyers.
    • Unique Features: This property possesses unique features that set it apart.

    Overview

    This residential lot is located in Jerome, Michigan. The property is approximately 0.2 acres in size.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Daycare Center Barber Shop Storage Facility Garden Center Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Jerome
    County
    Hillsdale
    State
    Michigan
    Longitude
    -84.43269
    Latitude
    42.063239

    Nearby Similar for Sale

    • $449,000

      Lake LeAnn Island Building Site

      Private island building site on all-sports Lake LeAnn.
      11248 Lemott Circle, Jerome, MI 49249
      View Details
    • $259,900

      Lake LeAnn Waterfront Land Parcel

      Prepared 0.3-acre waterfront lot on Lake LeAnn, Michigan.
      11587 Highland Hills Drive, Jerome, MI 49249
      View Details
    • $449,000

      Residential Lot in Jerome, MI

      Residential land for sale in Jerome, Michigan.
      11248 Lemott Circle, Jerome, MI 49249
      View Details
    • $69,900

      Lakefront Lot on Mirror Lake

      Buildable lakefront lot with access to Mirror Lake.
      132 Hollybrook Ct, Jerome, MI 49249
      View Details
    • $150,000

      Lake LeAnn Waterfront Land Parcel

      Lakefront parcel with 50 feet of frontage on Lake LeAnn.
      11699 Baker Road, Jerome, MI 49249
      View Details
    • $69,900

      Residential Lot in Jerome, MI

      Residential lot available in Jerome, Michigan.
      132 Hollybrook Ct, Jerome, MI 49249
      View Details
    • $150,000

      Residential Lot in Jerome, MI

      Residential lot available in Jerome, Michigan.
      11699 Baker Road, Jerome, MI 49249
      View Details
    • $11,000

      Lake Leann Fishing Lots

      Double corner lot near Lake Leann, perfect for fishing.
      11968 Greenbriar Drive, Jerome, MI 49249
      View Details
    • $299,900

      Residential Lot in Jerome, MI

      Residential land available in Jerome, Michigan.
      11139 Oakwood Drive, Jerome, MI 49249
      View Details
    • $164,900

      Lakefront Building Site on Mirror Lake

      Picturesque lakefront lot ready for your dream home build.
      275 Westshore Drive, Jerome, MI 49249
      View Details
    • $299,900

      Buildable Waterfront Land in Jerome

      Cleared, south-facing waterfront land with sandy beachfront.
      11139 Oakwood Drive, Jerome, MI 49249
      View Details
    • $12,000

      Residential Lot in Jerome, MI

      Residential land available in Jerome, Michigan.
      11845 N Waldron Road, Jerome, MI 49249
      View Details

    FAQs

    What type of property is this?
    Land - Residential land available in Jerome, Michigan.
    Where is this land located?
    The property is located at 11348 Oakwood Drive Jerome, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Location: Find this property at coordinates -84.43269, 42.06324.; Additional property details are available upon request.; Description: Learn about the key features and benefits in the property description.
    (517) 547-3340
    We can help!
    Listing Contact
    PENNY NOREIKA
    PENNY NOREIKA
    Real Estate License ID: 6501271323
    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
    11348 Oakwood Drive, Jerome, MI 49249
    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!