Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Shelby Twp Title is generated by Realmo AI

    5961 woodmire, Shelby Twp, MI 48316

    View on Map
    Claim this Listing
    For Sale
    $149,900

    LAND - Shelby Twp, MI

    Lot size:
    0.50 Acres
    Added:
    Oct 13, 2025
    Days on Market:
    208
    Last Refresh:
    May 8 at 7:06 pm

    Property Features for 5961 woodmire

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    0709152016
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Description
    L 54 V JOYCE SUBDIVISION LOT 54. LIBER 54 PAGE 34
    Tax Annual Amount
    1679

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Giovan Agazzi

    Listing agent Giovan Agazzi

    Listing office GSA Elite Realty 48131 Van Dyke Ave, Warren, MI

    Listing date Oct 13, 2025

    MLS# 20251045235 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.

    HighLights

    • 100% buildable lot: Ensures ease of construction for your dream home.
    • No HOA: Offers freedom from association fees and regulations.
    • Over half acre of land: Provides ample space for building and outdoor activities.
    • Private drive: Suggests privacy and exclusivity.
    • Partially wooded: Combines natural beauty with buildability.
    • Staked off: Simplifies the building process by clearly marking property lines.

    Overview

    This is a partially wooded, 100% buildable residential lot situated on a private drive. The property, which has already been staked off, offers an opportunity to construct a custom home on just over a half acre of land. The location benefits from the absence of a Homeowners Association.
    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 Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Twp
    County
    Macomb
    State
    Michigan
    Longitude
    -83.053254
    Latitude
    42.691348

    Nearby Similar for Sale

    • $154,999
      1,250 SF

      Turnkey Pizza Restaurant Opportunity

      Fully equipped pizza restaurant in high-traffic Shelby Twp location.
      2274 Auburn, Shelby Twp, MI 48317
      View Details
    • $399,900

      Renovated Multi-Unit Investment Property

      Income-generating duplex in Shelby Township, completely renovated in 2021/2022.
      8820 Russell Street, Shelby Twp, MI 48317
      View Details
    • $75,000
      1,280 SF

      Turnkey Boutique Business Opportunity

      Established clothing boutique in Shelby Twp, ready for new ownership.
      47331 Van Dyke Ave, Shelby Twp, MI 48317
      View Details
    • $450,000

      Shelby Twp Vacant Land

      5.15 acres of wooded residential land in Shelby Twp.
      11261 21 Mile, Shelby Twp, MI 48317
      View Details
    • $119,999

      Shelby Twp Wooded Homesite

      Prime 1.3 acre wooded parcel in Shelby Township.
      8480 Rosecrest Court, Shelby Twp, MI 48316
      View Details
    • $99,900

      Residential Land in Utica School

      Land for dream home in Utica School District, Shelby Twp.
      3733 CHRISTIE Lane, Shelby Twp, MI 48317
      View Details
    • $4,595,000
      39,388 SF

      Industrial Facility with Expansion Potential

      Well-maintained 38,388 SF industrial facility with expansion and outside storage.
      51455 Schoenherr Road, Shelby Twp, MI 48315
      View Details
    • $190,000

      Vacant Land in Shelby Township

      Large vacant lot in a fast-growing Shelby Township area.
      5720 HEARST Road, Shelby Twp, MI 48317
      View Details
    • $175,000

      Established Market with Mediterranean Cuisine

      Thriving market with bakery, meat, and Mediterranean kitchen.
      45701 Hayes Rd, Shelby Twp, MI 48315
      View Details
    • $1,700,000

      25.84 Acres of Land

      25.84 acres of land available for sale.
      45095 Ryan Rd, Shelby Twp, MI 48317
      View Details
    • $220,000

      Half-Acre Vacant Lot For Sale

      Vacant lot suitable for development with high visibility.
      2466 Auburn Rd, Shelby Twp, MI 48317
      View Details
    • $350,000

      Land

      2591 Auburn Rd, Shelby Twp, MI 48317
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Partially wooded, buildable lot on private drive in Shelby.
    Where is this residential land & home lot located?
    The property is located at 5961 woodmire Shelby Twp, MI.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: 100% buildable lot: Ensures ease of construction for your dream home.; No HOA: Offers freedom from association fees and regulations.; Over half acre of land: Provides ample space for building and outdoor activities.
    (586) 709-7779
    We can help!
    Listing Contact
    Giovan Agazzi
    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

    Thank You for Inquiry
    5961 woodmire, Shelby Twp, MI 48316
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!