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

    24309 CHAPMAN Road Macomb, MI 48042

    View on Map
    For Sale
    $80,000

    Vacant Land - Macomb, MI

    Lot size:
    0.67 Acres
    Added:
    May 7, 2025
    Days on Market:
    330
    Last Refresh:
    Apr 1 at 7:06 am

    Property Features for 24309 CHAPMAN Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    0812200036
    Lot size
    0.67 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    36
    Expense value
    15000
    Expense
    Security Deposit
    Expense freq.
    Once

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Zack Aboona

    Listing agent Zack Aboona

    Listing office Keller Williams Lakeside 45609 Village Blvd, MI

    Listing date May 7, 2025

    MLS# 20250033156 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 Macomb

    This 0.67-acre vacant land is located in Macomb, Michigan. Zoned for residential use, the property is suitable for building a home. A perk test has been completed, and natural gas is available. The soil is sandy, potentially reducing septic system costs. The location provides convenient access to major freeways, dining, and shopping.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Kitchen & Bath Showroom Garden Center Plumbing Service Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.867716
    Latitude
    42.6959

    Nearby Similar for Sale

    • $340,000

      Macomb Township Vacant Land Opportunity

      8.82 acre residential land ideal for custom home.
      000 North Avenue, Macomb, MI 48042
      View Details
    • $699,900

      Shovel-Ready Townhome Development Opportunity

      25-unit townhome development opportunity in Macomb Township.
      DEVELOPMENT OPPORTUNITY 25 Mile Road, Macomb, MI 48042
      View Details
    • $280,000

      Macomb Vacant Land Opportunity

      Cleared, build-ready 12-acre land parcel in Macomb, MI.
      00 Omo, Macomb, MI 48042
      View Details
    • $1,950,000

      Macomb Vacant Land For Sale

      Vacant land near hospital and retail developments in Macomb, MI.
      50675-50811 Romeo Plank, Macomb, MI 48044
      View Details
    • $24
      8,987 SF

      Hall Road Professional Office Building

      Professional office building with excellent Hall Road exposure and signage.
      22525 Hall Road, Macomb, MI 48042
      View Details
    • $2,479,000
      7,800 SF

      Free Standing Medical Building

      Free standing medical building in a premier location.
      45441 Heydenreich Rd, Macomb, MI 48044
      View Details
    • $250,000

      Macomb Vacant Commercial Lot

      Vacant commercial land in Macomb Township available for sale.
      16701 25 Mile, Macomb, MI 48042
      View Details
    • $2,145,000
      33,000 SF

      Two-Story Building with Ample Parking

      Two-story building with kitchen, walk-in cooler, generator, and parking.
      34375 S Gratiot Avenue, Clinton Charter Township Macomb, MI 48035
      View Details
    • $80,000

      Residential Land in Macomb, MI

      Residential land available for building a dream home near freeways.
      24321 CHAPMAN Road, Macomb, MI 48042
      View Details
    • $80,000

      Macomb Vacant Land For Sale

      Residential land available for building a dream home in Macomb.
      24315 CHAPMAN Road, Macomb, MI 48042
      View Details
    • $85,000

      Residential Land in Macomb

      Vacant land suitable for building a home near amenities.
      24383 CHAPMAN Road, Macomb, MI 48042
      View Details
    • Contact for pricing
      84,068 SF

      Class A Medical Office Building

      High-end medical office building with expansion potential in high-growth area.
      17900 23 Mile Rd, Macomb, MI 48044
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land suitable for building a dream home.
    Where is this land located?
    The property is located at 24309 CHAPMAN Road Macomb, MI.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: Perk test completed, ready for building your dream home.; Natural gas available for your convenience.; Close to major freeways for easy commuting.
    (586) 532-0500
    We can help!
    Listing Contact
    Zack Aboona
    Real Estate License ID: 6501365731
    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!