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

    5835 Drake Rd West Bloomfield, MI 48322

    Sponsored
    For Sale
    $380,000

    LAND - West Bloomfield, MI

    Lot size:
    3.00 Acres
    Days on Market:
    113
    Last Refresh:
    Feb 13 at 7:06 am

    Property Features for 5835 Drake Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    18-28-100-008
    Lot size
    3.00 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer, Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Keith Brandt
    Keith Brandt

    Brandt Real Estate (248) 756-2844

    Listing agent Keith Brandt (248) 756-2844

    Listing date Oct 24, 2025

    MLS# 25047612

    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

    West Bloomfield 3-Acre Build Site

    This 3-acre single-family home build site is located in West Bloomfield, Michigan, with a West Bloomfield mailing address and access to Walled Lake Consolidated Schools. The property offers a large building envelope suitable for a home with various features. Paved road access to M-5, Orchard Lake Road, I-696, and Shenandoah Country Club is available off of Drake Road. City water, city sewer, natural gas, electric, phone, and high-speed cable are available at the street. The location provides convenient access to shopping, community services, restaurants, parks, churches, schools, trails, and lakes. The lot is suitable for a walkout or daylight basement and can accommodate a large home, additional garage, she-shed, or gardens. It also allows for the potential construction of a private basketball, tennis, or pickleball court, a pool and pool house, a large circular driveway, and a fenced yard. The property offers possibilities for various dream home styles, including ranch, cape cod, colonial, craftsman, rustic, modern, barn-dominium, and farmhouse designs, with options for green technology. Land contract options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    West Bloomfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.399486
    Latitude
    42.551025

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    FAQs

    What type of property is this?
    Residential land & home lot - 3-acre West Bloomfield single-family home build site with utilities available.
    Where is this residential land & home lot located?
    The property is located at 5835 Drake Rd West Bloomfield, MI.
    What is the asking price?
    The asking price for this property is $380,000.
    What are key features of this property?
    This property features: - 3-acre build-site in West Bloomfield with Walled Lake Consolidated Schools.; - Utilities available at the street: City Water, City Sewer, Natural Gas, Electric, Phone, High-Speed Cable.; - Paved road access to M-5, Orchard Lake Road, I-696, and Shenandoah Country Club.
    (248) 756-2844
    Request Owner's contact information
    5835 Drake Rd West Bloomfield, MI 48322
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    West Bloomfield, MI 48322
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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
    5835 Drake Rd West Bloomfield, MI 48322
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    We can help!
    Listing Contact
    Keith Brandt
    Keith Brandt
    Real Estate License ID: 6502406949
    (248) 756-2844
    Learn more
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