Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land in Hazel Park Title is generated by Realmo AI

    89 W Hayes, Hazel Park, MI 48030

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land for sale in Hazel Park with freeway access.

    Type:Lots/Land
    Added:
    Jan 13, 2023
    Days on Market:
    1240
    Last Refresh:
    Apr 10 at 8:13 pm

    Property Features for 89 W Hayes

    General Information

    Standard status
    Active
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Theresa Blincoe
    Theresa Blincoe

    Listing agent Theresa Blincoe License #6501438456

    Listing office KW Metro

    Listing date Jan 13, 2023

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of KW Metro

    HighLights

    • Opportunity to build in Hazel Park
    • Great location
    • Easy freeway access
    • Vacant lot
    • Sought after area
    • Additional adjacent lot for sale

    Overview

    This lot presents an opportunity for construction in Hazel Park, offering a location with convenient freeway access. An adjacent lot is also available for sale.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1047412
    Latitude
    42.4490892

    Nearby Similar for Sale

    • $374,900
      2,550 SF

      Hazel Park Flex Space Property

      Flex space property with office and shop areas for sale.
      407 W 9 Mile Road, Hazel Park, MI 48030
      View Details
    • $849,000

      Hazel Park Development Opportunity

      1.66 acres for residential development near Amazon.
      24095 VANCE, Hazel Park, MI 48030
      View Details
    • $350,000
      2,908 SF

      Turnkey Mechanic Shop & Dealership

      Fully equipped mechanic shop and auto dealership in Hazel Park.
      22031 Dequindre Rd, Hazel Park, MI 48030
      View Details
    • $1,750,000

      New Construction Multifamily Investment Opportunity

      New construction 8-unit multifamily property in Southeast Oakland County.
      1241 E Woodward Heights Blvd, Hazel Park, MI 48030
      View Details
    • $804,700
      8,047 SF

      Hazel Park Retail Space Available

      Retail space for sale in Hazel Park, Michigan.
      2410524121 John R Rd, Hazel Park, MI 48030
      View Details
    • $1,200,000
      22,342 SF

      Hazel Park Freestanding Industrial Building

      22,342 SF industrial building in Hazel Park for sale.
      21306 John R Rd, Hazel Park, MI 48030
      View Details
    • $245,500
      2,750 SF

      Free-Standing Building with Back Lot

      Small industrial building with back lot near I-696.
      596 E 10 Mile Rd, Hazel Park, MI
      View Details
    • $29,000

      Vacant Lot in Hazel Park

      Rare vacant lot to build your dream home.
      W Evelyn Avenue, Hazel Park, MI 48030
      View Details
    • $35,000

      Buildable Lot in Hazel Park

      Residential land for sale in Hazel Park, Michigan.
      Cayuga Avenue, Hazel Park, MI 48030
      View Details
    • $30,000

      Buildable Lot in Hazel Park

      Buildable lot in developing Hazel Park, great opportunity to build.
      934 E Granet Avenue, Hazel Park, MI 48030
      View Details
    • $1,200,000

      Hazel Park Development Opportunity

      Prime 1.21-acre development site in Hazel Park, Michigan.
      23930 John R Rd, Hazel Park, MI 48030
      View Details
    • $595,000

      Commercial Land For Sale

      Commercial land available for sale.
      300 E 8 MILE Rd, Hazel Park, MI 48203
      View Details

    FAQs

    What type of property is this?
    Land - Land for sale in Hazel Park with freeway access.
    Where is this land located?
    The property is located at 89 W Hayes Hazel Park, 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: Opportunity to build in Hazel Park; Great location; Easy freeway access
    (248) 288-3500
    We can help!
    Listing Contact
    Theresa Blincoe
    Theresa Blincoe
    Real Estate License ID: 6501438456
    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
    89 W Hayes, Hazel Park City, MI 48030
    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!