Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    20.63 Acres Agricultural Land Parcels Title is generated by Realmo AI

    36801 Hobarth Rd, Chesterfield, MI 48047

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $412,500

    Two agricultural parcels totaling 20.63 acres, potential residential development.

    Type:Land
    Property size:
    20 SF
    Lot size:
    20.63 Acres
    Price / SF:
    $20,625/SF
    Added:
    Jan 26, 2026
    Days on Market:
    111
    Last Refresh:
    Apr 5 at 8:40 pm

    Property Features for 36801 Hobarth Rd

    General Information

    Standard status
    Active
    Size
    20 SF
    Lot size
    20.63 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Jason Capitani, SIOR, CCIM

    Listing agent Jason Capitani, SIOR, CCIM

    Listing office L. Mason Capitani, Inc.

    Listing date Jan 26, 2026

    Source Corfac

    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 L. Mason Capitani, Inc.

    HighLights

    • 20.63 Acres Total - A significant land holding.
    • Two Parcels Equal in Size at 10.32 Acres Each
    • Potential Future Residential Development - Explore development possibilities.
    • Zoned Agricultural
    • Seconds to I‑94 - Enjoy convenient highway access.
    • Close Proximity to New Ascension St. John Hospital

    Overview

    Two parcels of agricultural land, each 10.32 acres in size, are available for sale. The total area for sale is 20.63 acres. Zoned for agricultural use, the parcels present a potential opportunity for future residential development. The property is located near 26 Mile Road and County Line Road, with convenient access to I-94. Additionally, the site is in close proximity to the new Ascension St. John Hospital Health Center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesterfield
    County
    Macomb
    State
    Michigan
    Longitude
    -82.7367
    Latitude
    42.7133

    Nearby Similar for Sale

    • $969,000

      Commercial Land on Gratiot Avenue

      Commercial land available with high traffic volume and utilities.
      0 Gratiot, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Gratiot Avenue Commercial Property

      Commercial property with frontage on Gratiot Avenue and redevelopment potential.
      52365 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • Contact for pricing
      52,500 SF

      Gratiot Avenue Redevelopment Opportunity

      Main road frontage with renovation and redevelopment potential.
      52365 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $549,000

      Prime Vacant Land Opportunity

      1.04-acre vacant land parcel on 23 Mile Road, Chesterfield, MI.
      33070 23 Mile Rd, Chesterfield, MI 48047
      View Details
    • $399,000
      56,357 SF

      Commercial Land in High-Traffic Area

      Commercial/industrial land with house and garage in Chesterfield, MI.
      25300 23 mile rd, Chesterfield, MI 48051-1902
      View Details
    • $450,000

      Industrial Land For Sale

      16.65 acre industrial land parcel available for sale.
      54444 Bates Rd, Chesterfield, MI 48051
      View Details
    • Contact for pricing
      99 SF

      99 Acres Industrial Land Available

      99 acres of industrial land with utilities and rail access.
      29270 26 Mile Road, Chesterfield, MI 48051
      View Details
    • $395,000

      Vacant Land on Gratiot Avenue

      4.4 acres of vacant land with frontage on Gratiot.
      0 Gratiot, Chesterfield, MI 48051
      View Details
    • $2,400,000
      653,401 SF

      Corner Land in Chesterfield, MI

      15.41 +/- acre corner lot in developing area.
      6018 COUNTY LINE, Chesterfield, MI 48047
      View Details
    • $799,000

      Land For Sale

      Land available for sale.
      51531 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • $450,000

      1.60 Acres Light Industrial Land

      1.60 acres of M-1 zoned land for sale.
      53579-53801 Gratiot Ave, Chesterfield, MI
      View Details
    • Contact for pricing

      27.47 Acres Commercial Land

      27.47 acres of commercial development land available for sale.
      26 Mile Rd, Chesterfield, MI 48047
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Two agricultural parcels totaling 20.63 acres, potential residential development.
    Where is this agricultural land / farmland located?
    The property is located at 36801 Hobarth Rd Chesterfield, MI.
    What is the asking price?
    The asking price for this property is $412,500.
    What are key features of this property?
    This property features: 20.63 Acres Total - A significant land holding.; Two Parcels Equal in Size at 10.32 Acres Each; Potential Future Residential Development - Explore development possibilities.
    (248) 637-7684
    We can help!
    Listing Contact
    Jason Capitani, SIOR, CCIM
    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
    36801 Hobarth Rd, Chesterfield , MI 48047
    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!