Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Lot in Royal Oak Title is generated by Realmo AI

    623 E 13 Mile Road, Royal Oak, MI 48073

    View on Map
    Claim this Listing
    Picture of Land at 623 E 13 Mile Road, Royal Oak, MI
    For Sale
    $230,000

    LAND - Royal Oak, MI

    Lot size:
    0.15 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    54
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 623 E 13 Mile Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    2509203005
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Description
    T1N, R11E, SEC 3 OAK RUN SUB LOT 269 7-15-24 FR 010
    Tax Annual Amount
    4039

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Natasha C Richards
    Natasha C Richards

    Listing agent Natasha C Richards License #6502385914

    Listing office Bellabay Realty Tri Counties 37361 Eight Mile Road, Livonia, MI

    Listing date Apr 14, 2026

    MLS# 20261025057 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

    • Desirable location with convenient access to downtown Royal Oak.
    • Utilities available at the street for easy development.
    • Ideal for builders, investors, or homeowners.
    • Close proximity to shopping, dining, parks, and entertainment.
    • High‑demand location in a thriving market.
    • Adjacent lot also for sale, offering expanded possibilities.

    Overview

    This vacant lot is located in a desirable community, offering convenient access to downtown Royal Oak, major expressways, shopping, dining, and amenities. Situated amongst established residential neighborhoods and ongoing development, this parcel is suitable for builders, investors, or homeowners planning to construct a custom home. Utilities are available at the street. The location provides access to parks, entertainment, and other area amenities. The lot size is 0.15 acres. The property is located in Royal Oak, Michigan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Real Estate Agency 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
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.13611
    Latitude
    42.519555

    Nearby Similar for Sale

    • $839,500
      4,000 SF

      Royal Oak Commercial Property on Woodward

      Versatile property on Woodward Avenue suitable for various commercial uses.
      32044 WOODWARD Avenue, Royal Oak, MI 48073
      View Details
    • $425,000
      1,220 SF

      Royal Oak Office For Sale

      Classy 1220 SF office in downtown Royal Oak.
      417 E. FOURTH Street, Royal Oak, MI 48067
      View Details
    • $469,900
      2,468 SF

      Brick Duplex with Three-Car Garage

      Updated two-unit brick duplex offers separate utilities and a finished basement with flexible living or guest space.
      3409 Devon Road, Royal Oak, MI 48073
      View Details
    • $485,000
      1,868 SF

      Two-Unit Tudor Duplex

      Tenant-occupied duplex with two 2-bedroom units and an upper unit currently available for lease, plus a large private backyard.
      925 E 2nd Street, Royal Oak, MI 48067
      View Details
    • $825,000
      2,818 SF

      Royal Oak Retail Opportunity

      Retail building in a great location in Royal Oak, MI.
      1018 E 11 Mile Road, Royal Oak, MI 48067
      View Details
    • $409,900
      1,551 SF

      Charming Royal Oak Multi-Family Home

      Charming multi-family home in Royal Oak near downtown and park.
      909 Knowles Street, Royal Oak, MI 48067
      View Details
    • $525,000

      Royal Oak Duplex Investment

      Tenant-occupied duplex near downtown Royal Oak with updated features.
      907 E Fifth Street, Royal Oak, MI 48067
      View Details
    • $425,000
      1,220 SF

      Classy Office in Downtown Royal

      Updated 1220 SF office with parking in Royal Oak.
      417 E. FOURTH St, Royal Oak, MI 48067
      View Details
    • $839,500

      Versatile Property on Woodward Avenue

      Prime location suitable for automotive, retail, restaurant, or medical uses.
      32044 WOODWARD Ave, Royal Oak, MI 48073
      View Details
    • $290,000

      Commercial Property on Woodward Avenue

      Two-level commercial building on Woodward Avenue, suitable for retail/office.
      32756 Woodward Ave, Royal Oak, MI 48073
      View Details
    • $450,000

      High-Traffic Corner Commercial Parcel

      Prime development opportunity at a bustling intersection in Lake City.
      415 N Main St, Royal Oak, MI 49651
      View Details
    • Contact for pricing
      5,889 SF

      High-End Retail/Office Building on Woodward

      Turn-key, remodeled retail/office building with parking near Birmingham.
      32500 Woodward Avenue, Royal Oak, MI, 48073
      View Details

    FAQs

    What type of property is this?
    Land - Desirable vacant lot in Royal Oak, ready for development.
    Where is this land located?
    The property is located at 623 E 13 Mile Road Royal Oak, MI.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Desirable location with convenient access to downtown Royal Oak.; Utilities available at the street for easy development.; Ideal for builders, investors, or homeowners.
    (248) 274-6614
    We can help!
    Listing Contact
    Natasha C Richards
    Natasha C Richards
    Real Estate License ID: 6502385914
    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
    623 E 13 Mile Road, Royal Oak, MI 48073
    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!