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

    24095 Vance Ave Hazel Park, MI 48030

    View on Map
    Sponsored
    For Sale
    $849,000

    Vacant Land - Hazel Park, MI

    Property size:
    1,600 SF
    Lot size:
    1.66 Acres
    Days on Market:
    4
    Last Refresh:
    Mar 12 at 4:06 am

    Property Features for 24095 Vance Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    2525253049
    Size
    1,600 SF
    Lot size
    1.66 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Violeta Sterbyci

    RK Real Estate LLC (586) 873-5537

    Listing agent Violeta Sterbyci (586) 873-5537

    Listing date Mar 9, 2026

    MLS# 20261014823 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.

    Learn more

    Property Insight Report

    Overview

    Hazel Park Land Development Opportunity

    This property in Hazel Park offers a development opportunity next to Amazon. The property consists of approximately 1.66 acres and presents potential for residential development. Previous plans were approved for the construction of 36 condominiums, with units consisting of 1300-1600 Sqft with attached garages, in 4 buildings each containing 9 units. Although the permits have expired, all the groundwork has already been completed. A survey and Phase 1 environmental study have been completed. The property consists of two parcels. The zoning has been changed to AR zoning, which allows both small and large apartments and building types as defined under the zoning. This property is suitable for builders, developers, or investors looking to create a multi-unit residential project in a growing area with convenient access to surrounding communities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.095366
    Latitude
    42.475497

    Nearby Similar for Sale

    • $374,900
      2,550 SF

      Hazel Park Flex Space Property

      Flex space property with office and shop areas for sale.
      407 W 9 Mile Rd, Hazel Park, MI 48030
      View Details
    • $175,000
      1,448 SF

      Hazel Park Duplex with Garage

      Hazel Park duplex featuring two units, garage, and full basement.
      1511 E Harry Ave, Hazel Park, MI 48030
      View Details
    • $220,000

      Hazel Park Commercial Property

      High-visibility commercial property on 8 Mile Road in Hazel Park.
      427 E 8 Mile Rd, Hazel Park, MI 48030
      View Details
    • $374,900

      West End Hazel Park Flex Space

      Flex space property with adjacent lot in West End.
      407 W 9 Mile Rd, Hazel Park, MI 48030
      View Details
    • $785,900

      Renovated Warehouse with Office Space

      Warehouse with renovated offices, new roof, and easy highway access.
      608 E 10 Mile St, Hazel Park, MI 48030
      View Details
    • $1,200,000

      Hazel Park Specialty Property

      Specialty property available for sale in Hazel Park, Michigan.
      23831 John R Rd, Hazel Park, MI 48030
      View Details
    • $245,500
      2,750 SF

      Free-Standing Building with Back Lot

      Small industrial building with back lot near I-696.
      596 E Ten Mile Rd, Hazel Park, MI
      View Details
    • $350,000

      Mechanic Shop and Auto Dealership

      Turnkey mechanic shop and auto dealership with Class B license.
      22031 Dequindre Rd, Hazel Park, MI 48030
      View Details
    • $175,000

      Hazel Park Duplex with Garage

      Duplex with two 2-bed, 1-bath units, garage, full basement.
      1511 E Harry Ave, Hazel Park, MI 48030
      View Details
    • $1,200,000

      Hazel Park Mixed-Use Investment

      Leased mixed-use property with residential and commercial spaces.
      23831 John R Rd, Hazel Park, MI 48030
      View Details
    • Contact for pricing

      Dequindre Rd Retail Investment Opportunity

      Retail property with long-term lease and income potential.
      20721 Dequindre Rd, Hazel Park, MI 48030
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.66 acres in Hazel Park, ideal for residential development.
    Where is this residential land & home lot located?
    The property is located at 24095 Vance Ave Hazel Park, MI.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: - Prime development opportunity next to Amazon in Hazel Park.; - Zoning changed to AR, allowing for both small and large apartments.; - Approximately 1.66 acres suitable for residential development.
    (586) 873-5537
    Request Owner's contact information
    24095 Vance Ave Hazel Park, MI 48030
    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.
    24095 Vance Ave
    Hazel Park, MI 48030
    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
    24095 Vance Ave Hazel Park, MI 48030
    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

    We can help!
    Listing Contact
    Violeta Sterbyci
    (586) 873-5537
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!