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

    3310 N Main St, Royal Oak, MI 48073

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

    Corner lot available for development in Royal Oak, Michigan.

    Type:Land
    Added:
    Nov 23, 2022
    Days on Market:
    1276
    Last Refresh:
    May 19 at 9:07 pm

    Property Features for 3310 N Main St

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Eric Birnholtz

    Listing agent Eric Birnholtz License #6501412484

    Listing office Mid-America Real Estate - Michigan, Inc.

    Listing date Nov 23, 2022

    Source Crexi

    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 Mid-America Real Estate - Michigan, Inc.

    HighLights

    • Hard corner location at 13 Mile and Main St in Royal Oak, MI
    • High traffic area suitable for development
    • Access from both 13 Mile and Main St
    • Land available for development
    • Former Speedway land
    • Restricted for specific uses (motor fuels, petroleum products, convenience store)

    Overview

    This land, formerly a Speedway location, is available for sale at the corner of 13 Mile and Main St in Royal Oak, Michigan. The site benefits from a corner location with access from both 13 Mile and Main St. It is located in a well-trafficked neighborhood and is available for development. Restrictions apply to the sale of motor fuels, petroleum products, and use as a convenience store.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1451798
    Latitude
    42.5193712

    Nearby Similar for Sale

    • $839,500
      4,000 SF

      Royal Oak Commercial Property on Woodward

      Versatile property on Woodward Avenue suitable for various commercial uses.
      32044 WOODWARD Avenue, Royal Oak, MI 48073
      View Details
    • $425,000
      1,220 SF

      Royal Oak Office For Sale

      Classy 1220 SF office in downtown Royal Oak.
      417 E. FOURTH Street, Royal Oak, MI 48067
      View Details
    • $495,000
      2,468 SF

      Royal Oak Brick Duplex Home

      Duplex in sought-after neighborhood with income potential on deep lot.
      3409 Devon Road, Royal Oak, MI 48073
      View Details
    • $409,900
      1,551 SF

      Charming Royal Oak Multi-Family Home

      Charming multi-family home in Royal Oak near downtown and park.
      909 Knowles Street, Royal Oak, MI 48067
      View Details
    • $825,000
      2,818 SF

      Royal Oak Retail Opportunity

      Retail building in a great location in Royal Oak, MI.
      1018 E 11 Mile Road, Royal Oak, MI 48067
      View Details
    • $525,000

      Royal Oak Duplex Investment

      Tenant-occupied duplex near downtown Royal Oak with updated features.
      907 E Fifth Street, Royal Oak, MI 48067
      View Details
    • $425,000
      1,220 SF

      Classy Office in Downtown Royal

      Updated 1220 SF office with parking in Royal Oak.
      417 E. FOURTH St, Royal Oak, MI 48067
      View Details
    • $839,500

      Versatile Property on Woodward Avenue

      Prime location suitable for automotive, retail, restaurant, or medical uses.
      32044 WOODWARD Ave, Royal Oak, MI 48073
      View Details
    • $290,000

      Commercial Property on Woodward Avenue

      Two-level commercial building on Woodward Avenue, suitable for retail/office.
      32756 Woodward Ave, Royal Oak, MI 48073
      View Details
    • $450,000

      High-Traffic Corner Commercial Parcel

      Prime development opportunity at a bustling intersection in Lake City.
      415 N Main St, Royal Oak, MI 49651
      View Details
    • Contact for pricing
      5,889 SF

      High-End Retail/Office Building on Woodward

      Turn-key, remodeled retail/office building with parking near Birmingham.
      32500 Woodward Avenue, Royal Oak, MI, 48073
      View Details
    • $515,000

      Royal Oak Mixed-Use Opportunity

      Two buildings in prime location near downtown Royal Oak.
      520 E 11 Mile Rd, Royal Oak, MI 48067
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner lot available for development in Royal Oak, Michigan.
    Where is this commercial land located?
    The property is located at 3310 N Main St Royal Oak, MI.
    What are key features of this property?
    This property features: Hard corner location at 13 Mile and Main St in Royal Oak, MI; High traffic area suitable for development; Access from both 13 Mile and Main St
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eric Birnholtz
    Real Estate License ID: 6501412484
    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
    3310 N Main St, Royal Oak, MI 48073
    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!