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

    Old Farm Trail, Armada, MI 48005

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Vacant land with convenient access, ideal for development.

    Type:Land
    Lot size:
    37.05 Acres
    Added:
    Oct 25, 2024
    Days on Market:
    590
    Last Refresh:
    May 12 at 9:46 pm

    Property Features for Old Farm Trail

    General Information

    Standard status
    Active
    Lot size
    37.05 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Michael Scamardella

    Listing agent Michael Scamardella License #6505205710

    Listing office Lino Realty Inc

    Listing date Oct 25, 2024

    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 Lino Realty Inc

    HighLights

    • Large 37.05‑acre parcel offering ample space and potential.
    • Convenient access from Old Farm Trail.
    • Ideal for residential development, agriculture, or recreation.
    • Square configuration facilitates efficient planning and development.
    • Tranquil, natural setting provides a peaceful retreat.
    • Located near 34 Mile Road, accessible to surrounding communities and major roadways.

    Overview

    This 37.05-acre parcel of vacant land is located just south of 34 Mile Road and offers convenient access from Old Farm Trail. The property's square configuration facilitates efficient planning and development. The land is suitable for a variety of uses including residential development, agricultural pursuits, or recreational activities. The tranquil surroundings provide a peaceful retreat within easy reach of regional amenities, offering significant potential for creative use and long-term value.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Armada
    County
    Macomb
    State
    Michigan
    Longitude
    -82.942876
    Latitude
    42.831964

    Nearby Similar for Sale

    • $500,000

      Agricultural Farmland Tract

      Farmed acreage with crop rights in the Romeo school district and potential for future parcel splits.
      Romeo Plank Road, Armada, MI 48005
      View Details
    • $1,500,000

      106 Acres Near Armada Amenities

      106-acre property near town with farmland, woods, and orchard.
      75901 NORTH Avenue, Armada, MI 48005
      View Details
    • $188,900

      Land with Creek in Armada

      Partially wooded 6.93 acre parcel with creek.
      73763 Coon Creek Road, Armada, MI 48005
      View Details
    • $115,000

      Armada Vacant Land For Sale

      2.74-acre corner lot, ideal for building a dream home.
      23335 Mcphall Road, Armada, MI 48005
      View Details
    • $775,000
      9,213 SF

      Auto Shop with Heavy Power

      Updated auto shop with equipment included and heavy electrical service for automotive operations in a downtown setting.
      74130 Fulton Street, Armada, MI 48005
      View Details
    • $350,000

      Development Land on Capac Rd

      27.91 acres of land ready for development.
      0 Capac Rd, ArmadaTownship_Macomb, MI 48005
      View Details
    • Contact for pricing
      41,580 SF

      Manufacturing Building with Crane

      41,580 SF manufacturing building with office and crane.
      15211 Laethem Dr, Armada, MI 48005
      View Details
    • $350,000

      27.91 Acres Vacant Land Armada

      27.91 acres of vacant land with development potential.
      Capac Road, Armada, MI 48005
      View Details
    • $350,000

      27.91 Acres on Capac Road

      27.91 acres of land ready to be built on.
      Capac Road, Armada, MI 48005
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land with convenient access, ideal for development.
    Where is this land located?
    The property is located at Old Farm Trail Armada, MI.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Large 37.05‑acre parcel offering ample space and potential.; Convenient access from Old Farm Trail.; Ideal for residential development, agriculture, or recreation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Scamardella
    Real Estate License ID: 6505205710
    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
    Old Farm Trail, Armada, MI 48005
    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!