Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land Near Wilcox Lake Title is generated by Realmo AI

    1103 N MILL Street, Plymouth, MI 48170

    View on Map
    Claim this Listing
    For Sale
    $399,900

    LAND - Plymouth, MI

    Lot size:
    0.28 Acres
    Added:
    Jan 7, 2026
    Days on Market:
    129
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 1103 N MILL Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    49002010574002
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Description
    23A574B 575 576LOT 574 EXC THE S 40 FT THEREOF ALSO LOTS 575 AND 576 ASSESSORS PLYMOUTH PLAT NO 17 T1S R8E L66 P79 WCR
    Tax Annual Amount
    9237

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Deborah Ronayne

    Listing agent Deborah Ronayne

    Listing office EXP Realty - Northville 235 E Main Street 105B, MI

    Listing date Jan 7, 2026

    MLS# 20261000959 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

    • Steps away from Wilcox Lake with lake view potential.
    • Located in Plymouth's historic Old Village, a highly walkable area.
    • Close proximity to new restaurants, shops, services, and events.
    • Opportunity to build a custom dream home.
    • Public water source available.
    • Convenient location in Metro Detroit.

    Overview

    This residential land is located steps away from Wilcox Lake and Plymouth's historic Old Village, one of the most walkable areas in Metro Detroit. The property offers a lake view. It is close to new restaurants, shops, services, and events. The zoning is Residential. The lot size is 0.28 acres. Existing structures on the property are to be torn down by the Purchaser.
    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 Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Wayne
    State
    Michigan
    Longitude
    -83.461371
    Latitude
    42.382824

    Nearby Similar for Sale

    • $495,000
      618 SF

      Downtown Plymouth Office Building For Sale

      Well-maintained office building in downtown Plymouth with parking.
      944 S Main Street, Plymouth, MI 48170
      View Details
    • $495,000

      Downtown Plymouth Office on Main

      Well-maintained office building in downtown Plymouth with parking.
      944 S Main St, Plymouth, MI 48170
      View Details
    • $1,200,000
      7,052 SF

      Plymouth Commercial Property For Sale

      Commercial property in Plymouth, suitable for retail or auto-related businesses.
      936 ann arbor, Plymouth City, MI 48170
      View Details
    • $329,900

      Prime Residential Land, Plymouth Twp

      Over 1 acre of residential land with special use options.
      49331 N TERRITORIAL Road, Plymouth Twp, MI 48170
      View Details
    • $560,000

      Plymouth Duplex Investment Opportunity

      Turnkey duplex near downtown Plymouth, fully occupied, immediate rental income.
      677 Karmada St, Plymouth, MI 48170
      View Details
    • $324,900

      Buildable Lot in Superior Township

      4+ acre treed lot in Plymouth-Canton school district.
      8751 Warren Road, Plymouth, MI 48170
      View Details
    • $399,900

      Northville Twp Wooded Land

      1.44 acres of wooded land in Northville Township.
      43550 RESERVOIR Street, Northville Twp, MI 48170
      View Details
    • $1,400,000

      Plymouth Twp Acreage Opportunity

      2.75-acre residential land near downtown Plymouth.
      47420 W Ann Arbor Trail, Plymouth Twp, MI 48170
      View Details
    • $314,000
      1,056 SF

      Updated Condo in Downtown Plymouth

      Updated condo near downtown Plymouth's shopping, dining, and entertainment.
      347 W Ann Arbor Trail Court, Plymouth City, MI 48170
      View Details
    • $275,000

      Plymouth Township Land Opportunity

      0.93-acre residential land parcel in a desirable Plymouth location.
      E Ann Arbor Trail, Plymouth, MI 48170
      View Details
    • $1,100,000

      Land

      5949 Gotfredson Rd, SalemTownship_Washtenaw, MI 48170
      View Details
    • $3,600,000
      12 SF

      Prime Land with Freeway Access

      Commercial land with excellent freeway visibility and immediate access.
      Commerce Center Drive, Plymouth Charter Township, MI 48170
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for sale near Plymouth's Old Village.
    Where is this residential land & home lot located?
    The property is located at 1103 N MILL Street Plymouth, MI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Steps away from Wilcox Lake with lake view potential.; Located in Plymouth's historic Old Village, a highly walkable area.; Close proximity to new restaurants, shops, services, and events.
    (888) 501-7085
    We can help!
    Listing Contact
    Deborah Ronayne
    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
    1103 N MILL Street, Plymouth, MI 48170
    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!