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

    5500 TALBOT Street Hamtramck, MI 48212

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Hamtramck, MI

    Lot size:
    0.24 Acres
    Added:
    Aug 27, 2024
    Days on Market:
    606
    Last Refresh:
    Apr 24 at 12:06 pm

    Property Features for 5500 TALBOT Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    13005984.
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Description
    S TALBOT 43 THE J L HUDSON CO L32 P38 PLATS, W C R 13/213 20 IRREG

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Leonard A Pickett III

    Listing agent Leonard A Pickett III License #6501306589

    Listing office RCH Brokerage Legacy Inc 21411 Civic Center Dr Ste 2200, Southfield, MI

    Listing date Aug 27, 2024

    MLS# 20240063812 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

    Hamtramck Land Bundle For Sale

    This property comprises a bundle of three lots, including 5506 and 5510 Talbot, totaling 10,373 sqft. The lots, zoned R2, are not sold separately. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development to increase housing supply, restore urban fabric, density, and walkability. Interested buyers should consult DLBA proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional neighborhood context. All offers must be supported by Proof of Funds that meet or exceed development costs. The DLBA is entitled to a tax capture for the 5 tax years after transferring ownership. This tax capture may be incompatible with tax abatements available to the selected purchaser. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for DLBA requirements and offer submission information.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hamtramck
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0471969
    Latitude
    42.4078857

    Nearby Similar for Sale

    • $429,999
      8,000 SF

      Industrial Warehouse with Office Space

      8,000 sq ft industrial warehouse with office space.
      2203 E Mcnichols Road, Hamtramck, MI 48212
      View Details
    • $539,999
      4,970 SF

      Hamtramck Commercial Property For Sale

      Two buildings on a 0.52-acre lot, dealership potential.
      5720 E Davison Street, Hamtramck, MI 48212
      View Details
    • $549,999
      6,016 SF

      Hamtramck Commercial Property on Conant

      Versatile commercial property on vibrant Conant Street, Hamtramck.
      9819 Conant Street, Hamtramck, MI 48212
      View Details
    • $599,000
      11,675 SF

      Industrial Davison - Automotive Repair and Salvage

      11,456 SF warehouse in Hamtramck, Michigan. Automotive repair/salvage use.
      5431 Davison St, Hamtramck, MI 48212
      View Details
    • $199,500

      Hamtramck Multi-Family Brick Home

      Charming multi-family home with income potential near Detroit.
      6750 Buhr Street, Hamtramck, MI 48212
      View Details
    • $115,000

      Hamtramck Vacant Land Opportunity

      0.3 acre vacant land parcel in established Hamtramck neighborhood.
      2222 Grayling Street, Hamtramck, MI 48212
      View Details
    • $190,000
      1,955 SF

      Hamtramck Duplex: Investor Opportunity

      Spacious duplex near Detroit's hubs, ideal for investors or homeowners.
      11727 Dyar Street, Hamtramck, MI 48212
      View Details
    • $124,900

      Hamtramck Land For Sale

      Land available in Hamtramck, Michigan for multi-family or residential development.
      2604 Trowbridge Street, Hamtramck, MI 48212
      View Details
    • $5,000,000
      1,400 SF

      Hamtramck Commercial Property For Sale

      Commercial property in Hamtramck's business district, currently a dental office.
      11329 Joseph Campau, Hamtramck, MI 48212
      View Details
    • $485,000
      18,977 SF

      Large Art Deco Industrial Building

      One-story industrial building with office suite and gated parking.
      2731 JEROME Street, Detroit City, MI 48212
      View Details
    • $34,900

      Hamtramck Land Development Opportunity

      Prime R2 zoned land parcel in a growing area.
      12834 Dwyer Street, Hamtramck, MI 48212
      View Details
    • $34,900

      Hamtramck Land Development Opportunity

      Prime R2 zoned land parcel in a growing area.
      12828 Dwyer Street, Hamtramck, MI 48212
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three residential lots totaling 10,373 sqft in Hamtramck, MI.
    Where is this residential land & home lot located?
    The property is located at 5500 TALBOT Street Hamtramck, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Large combined lot size of 10,373 sqft across 3 lots.; Zoned R2, making it suitable for residential development.; Part of a Detroit Land Bank Authority (DLBA) initiative focused on increasing housing supply.
    (248) 440-2268
    We can help!
    Listing Contact
    Leonard A Pickett III
    Real Estate License ID: 6501306589
    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!