Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5803 Cooley Lake Rd Waterford, MI 48327

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $200,000

    Corner parcel in Waterford, MI, near a busy gas station.

    Lot size:
    0.57 Acres

    Property Features for 5803 Cooley Lake Rd

    General Information

    Lot size
    0.57 Acres

    We can help!

    Listing Contact
    Kevin Jappaya
    Kevin Jappaya
    Source: Moodyscre

    Listing Agent: Kevin Jappaya

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Corner Parcel in Waterford

    This corner parcel is located at the southwest corner of Cooley Lake and Hiller Roads in Waterford, Michigan, across from a busy Mobil gas station. The surrounding area has a population of over 146,000 people within a 5-mile radius.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Skin Care Clinic Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3993981
    Latitude
    42.6216791

    Nearby Similar for Sale

    • $450,000
      2,500 SF

      Established Medical Office on Elizabeth Lake

      Medical office building on Elizabeth Lake Road in Waterford Township.
      2561 Elizabeth Lake Rd, 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 Rd, Waterford, MI 48327
      View Details
    • $640,000
      2,815 SF

      Unique Commercial Property with Garage

      Renovated commercial space with garage, office, and bathroom.
      2580 Dixie Hwy, Waterford, MI 48328
      View Details
    • $218,000
      2,010 SF

      Renovated Office Building on Elizabeth Lake

      Completely renovated office building suitable for various professional uses.
      509 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $349,000
      2,252 SF

      Waterfront Multifamily with Unique Features

      Updated multifamily property on Van Norman Lake with unique amenities.
      5826 Andersonville Rd, Waterford, MI 48329
      View Details
    • $450,000
      2,292 SF

      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
      2661 Dixie Hwy, Waterford, MI 48328
      View Details
    • $4,600,000
      49,434 SF

      Renovated Commercial Building on Highland

      49,434 SF building on 7.5 acres, renovated in 2023.
      5900 Highland Rd, Waterford, MI 48327
      View Details
    • $569,000
      1,907 SF

      Waterford Duplex on 5 Acres

      Duplex on 5 acres, potential for rezoning and single-family conversion.
      6741 Highland Rd, Waterford, MI 48327
      View Details
    • $399,000
      2,400 SF

      Retail Property with Beer/Wine License

      Retail property in Waterford, MI, includes beer and wine license.
      2974 W Walton Blvd, Waterford, MI 48329
      View Details
    • $85,900
      639 SF

      Waterford Condo Near Amenities

      Entry-level, one-bedroom condo near pool and amenities in Waterford.
      995 North Cass Lake Rd, Waterford, MI 48328
      View Details
    • New
      $285,000
      1,711 SF

      Waterford Office Building on M-59

      Office building with frontage on M-59, suitable for owner-occupants.
      5663 Highland Rd, Waterford, MI 48327
      View Details
    • $334,900
      1,200 SF

      Waterford Condo on Cass Lake

      Updated 2-bedroom condo with lake access and private garage.
      3559 Port Cove Dr, Waterford, MI 48328
      View Details

    FAQs

    What type of property is this?
    Land - Corner parcel in Waterford, MI, near a busy gas station.
    Where is this land located?
    The property is located at 5803 Cooley Lake Rd Waterford, MI.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: - Corner parcel location at Cooley Lake and Hiller Roads.; - High traffic location across from a Mobil gas station.; - Located in Waterford, MI.
    (248) 851-8900
    Request Owner's contact information
    5803 Cooley Lake Rd Waterford, MI 48327
    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.
    5803 Cooley Lake Rd
    Waterford, MI 48327
    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
    5803 Cooley Lake Rd Waterford, MI 48327
    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

    We can help!
    Listing Contact
    Kevin Jappaya
    Kevin Jappaya
    (248) 851-8900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.