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    Corner Development Land With Long Frontage Title is generated by Realmo AI

    3452-3466-3480 Elms Road, Flushing, MI 48433

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    Claim this Listing
    For Sale
    $650,000

    COMMERCIAL - Flushing, MI

    Property size:
    1,342 SF
    Lot size:
    10.90 Acres
    Price / SF:
    $484/SF
    Added:
    Aug 22, 2023
    Days on Market:
    1019
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for 3452-3466-3480 Elms Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    14-31-504-005-005-006
    Size
    1,342 SF
    Lot size
    10.90 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8250

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1965
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Lucy Ham
    Lucy Ham

    Listing agent Lucy Ham License #122522

    Listing office Ham Group Realty 124 E Main St., Flushing, MI

    Listing date Aug 22, 2023

    MLS# 50119807

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

    HighLights

    • 494‑ft frontage on Elms Rd with a total of 10.9 acres, split into 3452 (0.9 ac), 3466 (0.9 ac rental), and 3480 (9.1 ac).
    • 3466 Elms rental home on 0.9 acres leased at $875/month plus utilities.
    • Zoned C‑2 and residential for the overall property plan.
    • Vacant land parcels include 3452 Elms (0.9 ac) and 3480 Elms (9.1 ac).
    • Rental home built in 1965 with forced‑air heat; public water and asphalt roof.
    • Land contract terms noted: $200,000 down, 5 years, 7.75% interest, $6,000/month (subject to seller credit approval).

    Overview

    This offering totals 10.9 acres and is arranged as three parcels along Elms Road: 3452 Elms (0.9 acre vacant land), 3466 Elms (0.9 acre with a rental home currently leased at $875 per month plus utilities), and 3480 Elms (9.1 acres vacant land). The property is described as a development-ready corner site with substantial frontage.

    The land provides 494 feet of frontage on Elms Rd. The remarks also describe the location as a prime development corner, positioned across from Kroger and behind Speedway, Wendy's, and Chase Bank.

    Zoned C-2 and residential, the property is suited for users and developers looking for the flexibility of a mixed zoning designation and the ability to purchase a portion of the site. The seller indicates the property can be split for business needs, with an option to purchase approximately 2 acres up to 10 acres, pending the applicable division.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Flushing
    County
    Genesee
    State
    Michigan
    Longitude
    -83.8123026
    Latitude
    43.058522

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    FAQs

    What type of property is this?
    Commercial land - 10.9-acre development site with 494-foot road frontage and a rental home, zoned for C-2 and residential uses.
    Where is this commercial land located?
    The property is located at 3452-3466-3480 Elms Road Flushing, MI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 494‑ft frontage on Elms Rd with a total of 10.9 acres, split into 3452 (0.9 ac), 3466 (0.9 ac rental), and 3480 (9.1 ac).; 3466 Elms rental home on 0.9 acres leased at $875/month plus utilities.; Zoned C‑2 and residential for the overall property plan.
    (810) 659-6569
    We can help!
    Listing Contact
    Lucy Ham
    Lucy Ham
    Real Estate License ID: 122522
    Learn More
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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.

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