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

    3020 Merwin Road Lapeer, MI 48446

    View on Map
    Claim this Listing
    For Sale
    $99,000

    LAND - Elba Twp, MI

    Lot size:
    6.35 Acres
    Added:
    May 30, 2025
    Days on Market:
    330
    Last Refresh:
    Apr 24 at 6:06 am

    Property Features for 3020 Merwin Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    00802501851
    Lot size
    6.35 Acres

    Taxes and HOA fees

    Tax Description
    SEC 25 T7N R9E COM AT E 1/4 POST OF SEC 25, TH W 283.33FT TO POBTH W 540 FT; TH N 505.49 FT; TH E 540 FT; TH S 506.12 FT TO POB 6.27 A COMBINED -40 AND -50 8/7/07
    Tax Annual Amount
    847

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Kara Motsinger

    Listing agent Kara Motsinger

    Listing office The Brokerage Real Estate Enthusiasts 205 E Second St, Clarkston, MI

    Listing date May 30, 2025

    MLS# 20251003692 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

    Land with Pond in Elba

    This 6.35-acre property features rolling land with a pond and some wooded areas, offering a peaceful environment and natural surroundings. Located in Elba Twp, Michigan, the residential-zoned land requires a well and septic system. An area for septic installation has already been designated.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Auto Repair Shop Catering Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lapeer
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.341255
    Latitude
    42.99252

    Nearby Similar for Sale

    • $150,000
      2,600 SF

      Lapeer Commercial Building For Sale

      Two-story commercial building with potential for multiple uses.
      279 N Court Street, Lapeer, MI 48446
      View Details
    • $299,000
      7,764 SF

      Lapeer Commercial Property For Sale

      Versatile commercial property in Lapeer, MI, ideal for customization.
      1996 W Oregon Street, Lapeer, MI 48446
      View Details
    • $249,900
      1,755 SF

      Lapeer Office with Ample Land

      Office property on 4.4 acres suitable for various businesses.
      550 S Saginaw Street, Lapeer, MI 48446
      View Details
    • $239,900
      3,000 SF

      Commercial Property Near Courthouse

      Commercial property suitable for a growing law firm or business.
      441 CLAY Street, Lapeer City, MI 48446
      View Details
    • $44,900

      Residential Land with Pond

      Residential land featuring a pond in Lapeer Twp, MI.
      #28 & 29 Maple Grove, Lapeer Twp, MI 48446
      View Details
    • $229,900

      Versatile 40-Acre Recreational Land Parcel

      Buildable land with creek, wildlife, and hunting potential.
      Martus Road, North Branch Twp, MI 48446
      View Details
    • $390,000
      11,160 SF

      Lapeer Industrial Opportunity For Sale

      Two buildings on 1.56 acres, development potential, green zone.
      265 HOWARD Street, Lapeer City, MI 48446
      View Details
    • $999,000

      Productive Lapeer Land with Hunting

      130 acres of versatile land for farming, recreation, and hunting.
      Hadley Road, Lapeer, MI 48446
      View Details
    • $419,900

      87.55 Acres of Wooded Land

      Versatile land with timber, hunting potential, and building site.
      VL Roods Lake Road, Mayfield Twp, MI 48446
      View Details
    • $69,900

      Residential Land with Lake Access

      Building site with deeded lake access in Elba Township.
      HERON Drive lot: 40, Elba Twp, MI 48446
      View Details
    • $95,000

      Wooded Lot on Paved Road

      Residential land for building a dream home with privacy.
      Morris Road lot: A1, Lapeer Twp, MI 48446
      View Details
    • $2,600,000
      6 SF

      Lapeer Road Commercial Land Parcels

      Commercial land parcels available on Lapeer and Baldwin Roads.
      Lapeer, MI 48446
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 6.35 acres of rolling land featuring a pond.
    Where is this residential land & home lot located?
    The property is located at 3020 Merwin Road Lapeer, MI.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: 6.35 acres of rolling land, a truly unique opportunity.; Includes a pond, adding to the natural beauty.; Some wooded areas provide privacy and character.
    (248) 297-5551
    We can help!
    Listing Contact
    Kara Motsinger
    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!