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    The Largest CRE Database in the US with Over 1 Million Listings

    2729 138Th Ave Dorr, MI 49323

    Sponsored
    For Sale
    Pending
    $195,000

    LAND - Dorr, MI

    Lot size:
    5.10 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 22 at 2:06 am

    Property Features for 2729 138Th Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    19-026-008-00
    Lot size
    5.10 Acres

    Utilities

    Utilities
    Cable Available
    Water front features
    Creek

    We can help!

    Listing Contact
    LuAnn C Takens

    Grand Rapids North Market Center, LLC (616) 447-9100 [email protected]

    Listing agent LuAnn C Takens (616) 447-9100

    Listing date Jan 14, 2026

    MLS# 25057156 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. 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

    Dorr, MI 5-Acre Land Parcel

    This 5.1-acre land parcel, located across from Sandy Pines, offers a private, wooded setting. Pigeon Creek, a tributary of the Rabbit River, runs through the back half of the property from north to south. The property is ready for building a dream home with a perfect building site. A Michigan Forestry Assistance Program study indicates the dominant forest type is Mixed Oak with Red Maple Subcanopy, featuring established Red and Black oak varieties in the canopy. Maple species, particularly soft maples, are the main source of new tree growth, with a significant component of Black Cherry as well. The seller has recently had a survey done so stakes are in the property. A soil boring test and a well and septic evaluation have also been completed. Located on a paved road, the property offers options to build near the road or farther back. The land features tall trees, rolling hills, and level areas. It is approximately 20 minutes from Grand Rapids.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Spa & Massage Wholesale Shop Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Dorr
    County
    Allegan
    State
    Michigan
    Longitude
    -85.813376
    Latitude
    42.695357

    FAQs

    What type of property is this?
    Land - 5-acre land parcel ready for your dream home!
    Where is this land located?
    The property is located at 2729 138Th Ave Dorr, MI.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: - 5 acres of land in a private, wooded setting; - Creek (Pigeon Creek) runs through the property; - Ready to build: Soil boring test, well and septic evaluation completed
    (616) 690-0869
    Request Owner's contact information
    2729 138Th Ave Dorr, MI 49323
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    Dorr, MI 49323
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    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
    2729 138Th Ave Dorr, MI 49323
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    We can help!
    Listing Contact
    LuAnn C Takens
    Real Estate License ID: 6501320305
    (616) 690-0869
    Learn more
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