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    Turnkey Urban Farming Land Title is generated by Realmo AI

    1023 E Princeton Avenue, Flint, MI 48505

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    LAND - Flint, MI

    Lot size:
    0.58 Acres
    Added:
    Jul 22, 2025
    Days on Market:
    319
    Last Refresh:
    Jun 5 at 10:06 am

    Property Features for 1023 E Princeton Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    11-19-503-036 & 035
    Lot size
    0.58 Acres

    Taxes and HOA fees

    Tax Annual Amount
    199

    Utilities

    Water source
    Private, Public

    We can help!

    Listing Contact
    Lucy Ham
    Lucy Ham

    Listing agent Lucy Ham License #122522

    Listing office Ham Group Realty 124 E Main St., Flushing, MI

    Listing date Jul 22, 2025

    MLS# 50182769

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two 96' x 30' hoop houses for agricultural or urban farming use
    • Rain collection/cistern system included
    • Solar panels on‑site
    • Private well plus public water service on‑site
    • Covered storage area on‑site
    • Electric service and public water service on‑site; well, solar panels, and services listed as disconnected/turned off

    Overview

    This property is a turnkey urban farming site on 0.58 acres, featuring two hoop houses measuring 96' x 30' each. There is a rain collection and cistern system, solar panels, and a covered storage area to support on-site operations. A private well is also on the property. Public water service and electric service are described as being on-site, but the well, solar panels, electric service, and public water service are all reported as disconnected or turned off.

    Located at 1023 E Princeton Avenue in Flint, Genesee County, Michigan 48505, the property is positioned for community or small-scale agricultural use. The listing provides that the core farming improvements and utility infrastructure are present on site, though they currently require reconnection or activation for use.

    For buyers looking for an existing agricultural setup rather than ground-up development, this site offers hoop-house structures and related water and power components already installed. The covered storage area supports day-to-day staging needs, and the cistern and private well configuration may be relevant for water planning once services are restored. Prospective buyers should confirm utility status and readiness since key systems are currently noted as disconnected or turned off.
    Property Profile Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Flint
    County
    Genesee
    State
    Michigan
    Longitude
    -83.6932985
    Latitude
    43.0856198

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    FAQs

    What type of property is this?
    Farm - A 0.58-acre site with two hoop houses, rainwater cisterns, solar panels, and covered storage for agricultural use.
    Where is this farm located?
    The property is located at 1023 E Princeton Avenue Flint, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Two 96' x 30' hoop houses for agricultural or urban farming use; Rain collection/cistern system included; Solar panels on‑site
    (810) 659-6569
    We can help!
    Listing Contact
    Lucy Ham
    Lucy Ham
    Real Estate License ID: 122522
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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.

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