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

    51863 Schoenherr Road, Shelby Township, MI 48315

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

    Vacant land available for sale in Shelby Township, Michigan.

    Added:
    Mar 5, 2026
    Days on Market:
    73
    Last Refresh:
    Apr 5 at 10:26 pm

    Property Features for 51863 Schoenherr Road

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Brad Margolis
    Brad Margolis

    Listing agent Brad Margolis License #6501371948

    Listing office NAI Farbman - Corporate

    Listing date Mar 5, 2026

    Source Naifarbman

    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 NAI Farbman - Corporate

    HighLights

    • Vacant land available
    • Located in Shelby Township, Michigan

    Overview

    Vacant land is available for sale, situated at 51863 Schoenherr Road in Shelby Township, Michigan. The property is classified as land and other land.
    Location Intelligence

    Current Use by Public Records

    Michael Saba DMD ... Dental Office Atticus Wealth Management Financial Advisor Faith Investment Services Financial Advisor Tiffany M Danyal Dental Office Brush Rinse Floss ... Dental Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9961
    Latitude
    42.676

    Nearby Similar for Sale

    • $10
      20,000 SF

      Van Dyke Retail/Office Space

      Retail/Office space on Van Dyke, south of 23 Mile Road.
      Shelby Township, MI 48317
      View Details
    • Contact for pricing
      14,440 SF

      Turnkey Medical Condo For Sale

      3,200 SF medical condo ideal for various medical practices.
      51863 Schoenherr Road, Shelby Township, MI 48315
      View Details
    • $2,300,000
      19,635 SF

      M-59 & Mound Road Frontage

      Retail property with frontage on M-59 and Mound Road.
      45100 Mound Road, Shelby Township, MI 48317
      View Details
    • $3,403,185
      4,370 SF

      New Heartland Dental NNN Lease

      New 10-year NNN lease with corporate guaranty.
      56074 Van Dyke Ave, Shelby Township, MI
      View Details
    • Contact for pricing
      1 SF

      Commercial Land at Hard Corner

      1.82 acres of commercial land at signalized intersection.
      1980 Auburn Road, Shelby Township, MI, 48317
      View Details
    • $1,899,000

      Prime Land on Van Dyke

      Land available for sale or ground lease in Shelby Township.
      56157 VAN DYKE AVENUE, Shelby Township, MI
      View Details
    • $1,000,000

      4.39 Acres on Schoenherr

      Commercial land available on Schoenherr in Shelby Township, MI.
      48801 Schoenherr, Shelby Township, MI 48315
      View Details
    • Contact for pricing
      100,000 SF

      Retail Development Land on Van Dyke

      Land available for retail development on Van Dyke Avenue.
      25 Mile and Van Dyke, Shelby Township, MI 48316
      View Details
    • $1,350,000
      10,000 SF

      Industrial Building in Shelby Township

      Free-standing industrial building in Shelby Township, tenant in place.
      14125 Industrial Center Dr, Shelby Township, MI 48315
      View Details
    • $3,392,000

      22.6 Acre Commercial Land

      22.6 acre commercial land in Shelby Township, Michigan.
      23 Mile Rd, Shelby Township, MI
      View Details
    • $975,000

      Shelby Township Commercial Land Opportunity

      One-acre commercial land for sale in Shelby Township, Michigan.
      45300 Mound Rd, Shelby Township, MI 48317
      View Details
    • $2,600,000
      17,086 SF

      Mound Road Commercial Building

      17,086 SF building on 4.8 acres with development potential.
      45700 Mound Rd, Shelby Township, MI 48317
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land available for sale in Shelby Township, Michigan.
    Where is this land located?
    The property is located at 51863 Schoenherr Road Shelby Township, MI.
    What are key features of this property?
    This property features: Vacant land available; Located in Shelby Township, Michigan
    (248) 351-4367
    We can help!
    Listing Contact
    Brad Margolis
    Brad Margolis
    Real Estate License ID: 6501371948
    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
    51863 Schoenherr Road, Shelby Township, MI 48315
    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!