Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2887 Orchard Lake Road Keego Harbor, MI

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Freestanding building on Orchard Lake Road, suitable for auto repair.

    Type:RETAIL
    Property size:
    2,448 SF
    Lot size:
    0.09 Acres
    Added:
    Apr 10, 2024
    Days on Market:
    750
    Last Refresh:
    Apr 5 at 11:20 pm

    Property Features for 2887 Orchard Lake Road

    General Information

    Standard status
    Active
    Size
    2,448 SF
    Lot size
    0.09 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 2887 Orchard Lake Road Contact us

    We can help!

    Listing Contact
    Bruce Goodwin

    Listing agent Bruce Goodwin License #MI 6506041466

    Listing office Goodwin REA

    Listing date Apr 10, 2024

    Source Moodyscre

    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 Goodwin REA

    Overview

    Keego Harbor Freestanding Building

    This freestanding building features 52 feet of frontage on Orchard Lake Road. The property is situated on the south side of Orchard Lake Road, east of Cass Lake Road. It includes 2,448 square feet of space on a 0.09-acre lot and has one curb cut. The zoning is C-2 (General Business), making it suitable for an auto repair or collision shop.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

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

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

    Similar Places Nearby

    • R & K Sylvan Lake Motors — 2655 Orchard Lake Rd # 145, Sylvan Lake, MI 48320
    • Windshield Repair Today of West Bloomfield — 3206 orchard lake rd, west bloomfield township, mi 48324
    • Mace automotive mobile mechanic — Hester Ct, Keego Harbor, MI 48320
    • Radu's Truck Repair — 2380 Walce Dr, West Bloomfield Township, MI 48324
    • Billy's Auto Service Of Bloomfield — 3075 Orchard Lake Rd, Keego Harbor, MI 48320

    Location Insight

    • Map
    • Local Demand
    City
    Keego Harbor
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3417
    Latitude
    42.6064

    Nearby Similar for Sale

    • $950,000
      10,226 SF

      Keego Harbor Catering & Event Facility

      Established catering facility on 1.5 acres in Cass Lake area.
      1985 CASS LAKE Road, Keego Harbor City, MI 48320
      View Details
    • $1,265,350
      9,031 SF

      Well-Maintained Commercial Property on Orchard Lake

      Commercial property with functionality, expansion potential, visibility, and accessibility.
      2177 Orchard Lake Rd, WestBloomfieldCharterTownship_Oakland, MI 48320
      View Details
    • $950,000
      7,000 SF

      Keego Harbor Office Building

      7,000 SqFt office building with 7.42% CAP rate.
      3297 Orchard Lake Rd, Keego Harbor, MI 48320
      View Details
    • $599,900
      2,976 SF

      Profitable Market & Deli Business

      Turnkey market and deli business for sale in Keego Harbor.
      3391 Orchard Lake Rd, Keego Harbor, MI 48320
      View Details
    • Contact for pricing
      3,683 SF

      Freestanding Building on Orchard Lake Road

      3,683 SF building on 0.39 acres with ample parking.
      2881 Orchard Lake Rd, Keego Harbor, MI
      View Details

    FAQs

    What type of property is this?
    Auto shop - Freestanding building on Orchard Lake Road, suitable for auto repair.
    Where is this auto shop located?
    The property is located at 2887 Orchard Lake Road Keego Harbor, MI.
    What are key features of this property?
    This property features: Free Standing Building with **52’ of Frontage on Orchard Lake Road**; Zoned C‑2 (General Business); Excellent for Auto Repair or Collision Shop
    (248) 855-1221 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bruce Goodwin
    Real Estate License ID: MI 6506041466
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!