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    28730 GRAND RIVER Avenue Farmington Hills, MI 48336

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    For Sale
    $600,000

    MULTI_FAMILY - Farmington Hills, MI

    Property size:
    480 SF
    Price / SF:
    $1,250/SF
    Added:
    Apr 8, 2025
    Days on Market:
    396
    Last Refresh:
    May 8 at 1:06 pm

    Property Features for 28730 GRAND RIVER Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    22
    Bathrooms
    22
    Rooms
    Bathroom 16, Bedroom 4, Bedroom 7, Bathroom 14, Bedroom 2, Bedroom 6, Bedroom 21, Bedroom 13, Bedroom 15, Bathroom 4, Bedroom 16, Bedroom 9, Bathroom 10, Bathroom 2, Bathroom 12, Bathroom 21, Bedroom 11, Bathroom 7, Bedroom 5, Bedroom 3, Bathroom 20, Bathroom 11, Bathroom 18, Bathroom 22, Bedroom 12, Bathroom 8, Bedroom 10, Bathroom 3, Bedroom 8, Bathroom 5, Bedroom 17, Bathroom 9, Bedroom 22, Bathroom 15, Bathroom 1, Bedroom 1, Bathroom 6, Bedroom 18, Bedroom 19, Bedroom 20, Bathroom 17, Bathroom 13, Bedroom 14, Bathroom 19
    Pets allowed
    Yes
    Standard status
    Active
    APN
    2336328046
    Size
    480 SF

    Taxes and HOA fees

    Tax Description
    T1N, R9E, SEC 36 SUPERVISOR'S SUB NO 5 PART OF LOTS 110, 111 & 112 BEG AT PT DIST S 89-57-07 E 26.12 FT FROM NW COR OF LOT 112, TH S 89-57-07 E 164.09 FT, TH S 00-34-07 E 240.42 FT, TH N 59-42-28 W 50.70 FT, TH S 29-10-00 W 100.59 FT, TH N 59-35-00 W 163.05 FT, TH N 16-54-13 E 230.21 FT TO BEG 8-12-99 FR 020 & 021
    Tax Annual Amount
    8008

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    22
    Building materials
    Brick

    We can help!

    Listing Contact
    Ninos Souresho

    Listing agent Ninos Souresho License #6501419822

    Listing office Keller Williams Lakeside 45609 Village Blvd, MI

    Listing date Apr 8, 2025

    MLS# 20250024111 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

    • Consistent cash flow and strong occupancy make this a smart investment.
    • Located in a highly desirable, well‑connected area of Farmington Hills.
    • Turn‑key investment opportunity as a 22‑unit mobile home park.
    • Zoned and operating as a mobile home community.
    • Easy access to shopping, dining, and major highways.
    • Features well‑kept grounds and utility hookups.

    Overview

    Farmington Hills Mobile Home Park

    This 22-unit mobile home park is located in Farmington Hills. Zoned and operating as a mobile home community, the property features well-kept grounds and utility hookups. It offers convenient access to shopping, dining, and major highways. The property is situated in a highly desirable, well-connected area and offers consistent cash flow and strong occupancy. The property size is 480 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3301637
    Latitude
    42.4464342

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    FAQs

    What type of property is this?
    Mobile home & RV park - 22-unit mobile home park in a desirable Farmington Hills location.
    Where is this mobile home & rv park located?
    The property is located at 28730 GRAND RIVER Avenue Farmington Hills, MI.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Consistent cash flow and strong occupancy make this a smart investment.; Located in a highly desirable, well‑connected area of Farmington Hills.; Turn‑key investment opportunity as a 22‑unit mobile home park.
    (586) 532-0500
    We can help!
    Listing Contact
    Ninos Souresho
    Real Estate License ID: 6501419822
    Learn More
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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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