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    Northville Land Build Site Title is generated by Realmo AI

    635 N Center Street, Northville, MI 48167

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    Claim this Listing
    For Sale
    $442,500

    LAND - Northville, MI

    Lot size:
    0.40 Acres
    Added:
    Jul 14, 2025
    Days on Market:
    313
    Last Refresh:
    May 22 at 2:06 am

    Property Features for 635 N Center Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    48-002-01-0607-007
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    03E607A2B PT OF LOT 607 DESC AS BEG AT SE COR LOT 607 TH N 00DEG 24M 30S W 77.54 FT ALONG E LINE OF LOT; TH S 87DEG 46 M 10S W 247.76 FT; TH S 02DEG 27M 26S E 77.30 FT; TH N 87DEG 49 M 00S E 245 FT TO POB. 0.44 AC M/L ASSESSORS NORTHVILLE PLAT NO 6 T1S R8E L66 P40 WCR
    Tax Annual Amount
    2295

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Keith Brandt
    Keith Brandt

    Listing agent Keith Brandt License #6502406949

    Listing office Brandt Real Estate 104 W Main Street, Suite 301, Northville, MI

    Listing date Jul 14, 2025

    MLS# 25034946 Listing URL

    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.

    HighLights

    • Large Single‑Family Home Build‑site in Downtown Northville
    • Oversized 17,430 sq ft lot within city limits
    • Premier location with easy walkability to Downtown Northville
    • Access to Northville's amenities: parks, schools, shopping, and more
    • Opportunity to build a custom dream home with various style options
    • Assistance available with builders, financing, and transitioning from current home

    Overview

    This property is a large single-family home build site located in downtown Northville. The lot size is over 17,430 square feet, providing a large footprint for a family-sized home. The location is on a main thoroughfare leading straight to the center of downtown, offering accessibility to city parks, schools, Hines Park, Our Lady of Victory Church and School, Maybury Park, Northville's farmers market, other places of worship, shopping, Parmenter's Northville Cider Mill, Northville Public Schools - Hillside Middle School and Amerman Elementary, community services, and the Northville Public Library. The property is located in Northville, offering access to numerous festivals. The lot is 0.4 acres. Several plans are available to view from Ranch, Cape Cod, Colonial and styles such as craftsman, rustic, modern, farmhouse, green technology and others. Home is tenant occupied, so please make an appointment to walk the property.
    Property Profile Insight Report 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
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.483728
    Latitude
    42.437036

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    FAQs

    What type of property is this?
    Residential land & home lot - Large lot in downtown Northville suitable for single-family home.
    Where is this residential land & home lot located?
    The property is located at 635 N Center Street Northville, MI.
    What is the asking price?
    The asking price for this property is $442,500.
    What are key features of this property?
    This property features: Large Single‑Family Home Build‑site in Downtown Northville; Oversized 17,430 sq ft lot within city limits; Premier location with easy walkability to Downtown Northville
    (248) 756-2844
    We can help!
    Listing Contact
    Keith Brandt
    Keith Brandt
    Real Estate License ID: 6502406949
    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.

    More about this property
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