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

    Merry Road lot 64 Waterford, MI 48329

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $100,000

    LAND - Waterford Twp, MI

    Lot size:
    0.96 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    17
    Last Refresh:
    Apr 9 at 8:06 pm

    Property Features for Merry Road lot 64

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    1323101029
    Lot size
    0.96 Acres

    Taxes and HOA fees

    Tax Description
    T3N, R9E, SEC 23 SUPERVISOR'S PLAT NO 23 LOT 64
    Tax Annual Amount
    613

    We can help!

    Listing Contact
    Wesley C Brooks
    Wesley C Brooks

    Listing agent Wesley C Brooks License #339536

    Listing office RE/MAX Eclipse Clarkston 5905 S Main St, Clarkston, MI

    Listing date Mar 24, 2026

    MLS# 20261020521

    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

    Waterford Vacant Land Opportunity

    This 0.96-acre vacant land is located in a growing neighborhood of Waterford, MI. The property is ready for development with sewer, water, gas, and power available at the road. The deep lot offers wooded seclusion from mid-way toward the back. Convenient commuting is facilitated by nearby M-59 and Watkins Lake Road to Dixie Highway. The property is sold As IS. The lot sits to the left of 1493 Merry Road, Waterford. The zoning is Residential. The seller does not require a construction contract in order to purchase.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.36192
    Latitude
    42.655698

    Nearby Similar for Sale

    • $649,000
      5,081 SF

      Commercial Building on Corner Lot

      Four-unit commercial building with high visibility and income potential.
      1362 Huron Street, Waterford, MI 48328
      View Details
    • $499,900
      2,519 SF

      Commercial Building on Dixie Highway

      2,500+ sq ft commercial building in high-traffic area.
      4680 Dixie Highway, Waterford, MI 48329
      View Details
    • $120,000
      3,628 SF

      Asian Grocery & Restaurant Opportunity

      Turnkey Asian grocery and restaurant in prime Waterford location.
      2510 Dixie Highway, Waterford, MI 48328
      View Details
    • $1,749,900
      10,468 SF

      Waterford Marina on Loon Lake

      Marina with boat docks and storage on Loon Lake.
      4030 Dixie Highway, Waterford, MI 48329
      View Details
    • $450,000
      2,500 SF

      Established Medical Office on Elizabeth Lake

      Medical office building on Elizabeth Lake Road in Waterford Township.
      2561 Elizabeth Lake Road, Waterford, MI 48328
      View Details
    • $450,000
      1,493 SF

      Waterford Commercial Property For Sale

      Commercial property in Waterford, MI, suitable for retail or office.
      101 N Telegraph Road, Waterford, MI 48328
      View Details
    • $450,000
      2,292 SF

      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
      2661 DIXIE, Waterford, MI 48328
      View Details
    • $425,000
      3,714 SF

      Waterford Office Building For Sale

      Well-maintained office building on Highland Road, ideal for owner-user.
      5685 Highland Road, Waterford, MI 48327
      View Details
    • $499,900
      2,500 SF

      Commercial Building on Dixie Highway

      2,500 SF commercial building on high-traffic Dixie Highway.
      4680 Dixie Hwy, WaterfordCharterTownship_Oakland, MI 48329
      View Details
    • $170,000
      1,380 SF

      Remodeled Office Space For Sale

      Remodeled office space with multiple suites available for sale.
      4512 Dixie Highway, Waterford, MI 48329
      View Details
    • $250,000

      Waterford Land with Lake Access

      Premium lot with deeded boat slip on Cass Lake.
      Forest Bay Drive, Waterford Twp, MI 48328
      View Details
    • $640,000
      2,815 SF

      Unique Commercial Property with Garage

      Renovated commercial space with garage, office, and bathroom.
      2580 Dixie Highway, Waterford, MI 48328
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.96-acre residential land ready for development in Waterford, MI.
    Where is this residential land & home lot located?
    The property is located at Merry Road lot 64 Waterford, MI.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: City sewer and water connections available, eliminating the need for a well or septic system.; Utilities (gas, electric) are readily accessible at the road.; Convenient commuting location near M‑59 and Dixie Highway.
    (248) 599-3124
    We can help!
    Listing Contact
    Wesley C Brooks
    Wesley C Brooks
    Real Estate License ID: 339536
    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!