Add Listing
    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

    31235 GRAND RIVER Avenue Farmington, MI 48336

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $989,900

    Commercial land for redevelopment with high road frontage and exposure.

    Type:Commercial/Industrial
    Property size:
    1,766 SF
    Lot size:
    0.26 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    22
    Last Refresh:
    Mar 26 at 10:27 pm

    Property Features for 31235 GRAND RIVER Avenue

    General Information

    Standard status
    Active
    Size
    1,766 SF
    Lot size
    0.26 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Hassan Scheib
    Hassan Scheib

    Listing agent Hassan Scheib License #6502399271

    Listing office Own It Realty

    Listing date Mar 11, 2026

    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 Own It Realty

    Overview

    Grand River Avenue Redevelopment Opportunity

    This commercial land presents an opportunity for redevelopment, featuring over 80 feet of road frontage and exposure on Grand River Avenue and Orchard Lake Road. The lot measures 85x133, totaling 1766 square feet. An adjacent property with Parcel ID#2326356003 is also available for sale.
    Location Intelligence

    Current Use by Public Records

    Kajy petroleum Factory

    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
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3564
    Latitude
    42.456

    Nearby Similar for Sale

    • $249,000
      5,000 SF

      Established Custom Car Shop Business

      Full-service custom car shop with strong growth potential.
      32730 W 8 Mile Rd, Farmington, MI 48336
      View Details
    • $200,000

      Residential Land in Prime Location

      Spacious, tree-lined land parcel in a convenient Farmington location.
      34037 W 9 Mile Road, Farmington, MI 48335
      View Details
    • $3,500,000
      4,054 SF

      Renovated Restaurant Building For Sale

      Freestanding, renovated restaurant building with tenant in place for sale.
      31519 W 12 MILE Road, Farmington Hills City, MI 48334
      View Details
    • $2,400,000
      28,148 SF

      Manufacturing and Office Space Available

      Two buildings on 2.75 acres, ideal for manufacturing.
      31666 W 8 Mile Road, Farmington, MI 48336
      View Details
    • $90,000

      Build-Ready Lot in Farmington

      Cleared, level lot ready for immediate development near downtown Farmington.
      000 Lake Way, Farmington, MI 48335
      View Details
    • $2,300,000
      28,148 SF

      Farmington Commercial Property with Two Buildings

      Two buildings on a 2.75-acre lot, ideal for manufacturing.
      31666 W 8 Mile Road, Farmington, MI 48336
      View Details
    • $769,000

      Farmington Land for Residential Development

      Residential land for sale in Farmington, Oakland County, Michigan.
      33777 W 9 Mile Road, Farmington, MI 48335
      View Details
    • $185,000

      2.8 Acre Lot in Farmington

      Spectacular 2.8-acre lot with Rouge River ravine in Farmington, MI.
      29700 Belfast Street, Farmington, MI 48336
      View Details
    • $150,000

      Land for Development Opportunity

      0.40-acre land near stores, shopping, and freeways.
      0000 RUNNYMEDE Street, Farmington Hills City, MI 48334
      View Details
    • $349,900
      1,975 SF

      Turn-Key Restaurant Opportunity

      Renovated restaurant with furniture, fixtures, and equipment included.
      W Jefferson Ave 33518, Farmington, MI
      View Details
    • $100,000

      Spacious Double Lot by Pond

      Vacant land near Farmington Hills with pond frontage.
      28181 Rollcrest, Farmington, MI 48334
      View Details
    • Contact for pricing
      50 SF

      Downtown Farmington Retail Opportunity

      Retail space available in historic downtown Farmington building.
      33335 Grand River Avenue | Farmington, MI 48335, MI 48335
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for redevelopment with high road frontage and exposure.
    Where is this commercial land located?
    The property is located at 31235 GRAND RIVER Avenue Farmington, MI.
    What is the asking price?
    The asking price for this property is $989,900.
    What are key features of this property?
    This property features: Excellent redevelopment opportunity.; Boasting over 80' of road frontage and exposure on Grand River Ave. & Orchard Lake Road.; Lot size 85x133.
    (313) 395-0000
    We can help!
    Listing Contact
    Hassan Scheib
    Hassan Scheib
    Real Estate License ID: 6502399271
    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!