Sign Up Successful!
You now have access to more from Realmo!
    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

    45905 Wild Rye Ct Rd Belleville, MI 48111

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $153,000

    Entry-level condo with pond views in a desirable location.

    Building Details

    Year built
    2000

    We can help!

    Listing Contact
    Philip Smalley
    Source: Elliman

    Listing Agent: Philip Smalley

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

    Learn more

    Overview

    Belleville Condo in Meadows Community

    This rear corner condo is located in the Meadows Community in Belleville, offering convenient access to I-94. The unit features an open kitchen with oak cabinets, a stove, and a refrigerator. A laundry room includes a washer and dryer. The master bedroom is spacious and includes a walk-in closet and master bath. Located in Building 19, this first-floor unit is move-in ready and features a walkout deck with pond views, situated close to the Gazebo.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Belleville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4854
    Latitude
    42.1781

    Nearby Similar for Sale

    • $350,000
      5,016 SF

      Belleville, MI Real Estate Investment

      Income-generating commercial building near downtown Belleville.
      25 Owen St, Belleville, MI 48111
      View Details
    • New
      $790,000
      1,843 SF

      Belleville Lakefront Home on 1.6 Acres

      Estate-sized property on Belleville Lake with potential for vacation rental.
      12915 Lake Point Pass, Belleville, MI 48111
      View Details
    • $749,000
      7,761 SF

      Belleville Commercial Building on Main

      7,000+ sqft commercial building on high-traffic Main Street.
      209 Main St, Belleville, MI 48111
      View Details
    • $235,000
      1,156 SF

      Brick Ranch Condo with Garage

      Condo with private entry, close to amenities and park.
      46158 Reedgrass Ln, Belleville, MI 48111
      View Details
    • Contact for pricing
      5,895 SF

      Retail Center on Main Street

      Multi-tenant retail center with frontage on Main Street in Belleville.
      504 Main St, Belleville, MI 48111
      View Details
    • $950,000

      Chapel of Memorial Gardens Cemetery

      50+ acre cemetery with chapel, room to grow.
      48300 Willow Rd, Belleville, MI 48111
      View Details
    • $302,999

      Three-Unit Brick Home with Garage

      Three-unit brick home with garage, currently fully rented.
      43300 Interstate 94 Service Dr, Belleville, MI 48111
      View Details
    • Contact for pricing
      99,261 SF

      Industrial Property on Haggerty Road

      Industrial property with repair garage and expansion potential for sale.
      8353 Haggerty Rd, Van Buren Twp, MI 48111
      View Details
    • $269,900

      Four-Unit Income Property on Acreage

      Four units on almost 3 acres with income potential.
      20150 Sherwood Rd, Belleville, MI 48111
      View Details
    • $773,900
      6,000 SF

      Medical Building with Ample Parking

      6,000 SF medical building with labs and visitor rooms.
      19130 Sumpter Rd, Belleville, MI 48111
      View Details
    • Contact for pricing

      New Van Buren Warehouse Space

      First-generation warehouse/contractor space near I-275 and I-94.
      6060 Schooner Dr, Van Buren Twp, MI 48111
      View Details
    • $650,000
      15,940 SF

      Belleville Industrial Property - Turnkey Rink!

      Profitable skating rink, plus homes & ice cream shop.
      19750 Sumpter Rd, Belleville, MI 48111
      View Details

    FAQs

    What type of property is this?
    Apartment building - Entry-level condo with pond views in a desirable location.
    Where is this apartment building located?
    The property is located at 45905 Wild Rye Ct Rd Belleville, MI.
    What is the asking price?
    The asking price for this property is $153,000.
    What are key features of this property?
    This property features: - Move-in ready, first-floor corner unit with walkout deck and pond views.; - Large master bedroom with walk-in closet and master bath.; - Open kitchen with oak cabinets, stove, and refrigerator.
    (734) 320-9602
    Request Owner's contact information
    45905 Wild Rye Ct Rd Belleville, MI 48111
    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.
    45905 Wild Rye Ct Rd
    Belleville, MI 48111
    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
    45905 Wild Rye Ct Rd Belleville, MI 48111
    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
    Philip Smalley
    (734) 320-9602
    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.