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

    31 Mile Rd & Mound Rd, Washington, MI 48095

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

    13 acres of land with preliminary site plan approval.

    Type:Land
    Lot size:
    13.00 Acres
    Added:
    May 8, 2024
    Days on Market:
    745
    Last Refresh:
    May 12 at 10:36 pm

    Property Features for 31 Mile Rd & Mound Rd

    General Information

    Standard status
    Active
    Lot size
    13.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Boyd Kraft
    Boyd Kraft

    Listing agent Boyd Kraft License #MI 6501076461

    Listing office Pilot Property Group

    Listing date May 8, 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 Pilot Property Group

    HighLights

    • 13 Acres of Land
    • Preliminary Site Plan Approved
    • Four Separate Lots
    • Water, Gas, and Electric Available
    • Septic Systems Required (Allows Customization)
    • Romeo Community School District

    Overview

    This property features 13 acres of land, divided into 4 lots, with a preliminary site plan already approved. Essential utilities are available, including water, gas, and electric. Septic systems will be required. The property is located within the Romeo Community School District.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0432
    Latitude
    42.7821

    Nearby Similar for Sale

    • $975,000
      7,512 SF

      Washington, MI Office Building

      7,512 square foot office building on 0.22 acres.
      58540 Van Dyke, Washington, MI 48084
      View Details
    • $49,900

      Residential Land in Washington, MI

      Vacant land with utilities available in Washington, Michigan.
      00 Wicker, Washington, MI 48094
      View Details
    • $49,900

      Residential Land in Washington, MI

      Vacant residential land with utilities available in Washington, MI.
      000 Wicker, Washington, MI 48094
      View Details
    • $575,000

      Developed Pad Ready For Building

      Developed building pad with parking and utilities for office/medical use.
      11549 26 Mile Rd, Washington, MI 48094
      View Details
    • $134,900

      Waterfront Land Near Stony Creek

      Almost 2-acre waterfront lot near Stony Creek and Rochester.
      63888 Dequindre Rd, WashingtonTownship_Macomb, MI 48095
      View Details
    • $130,000

      Land Parcel in Washington Township

      Land with pond access in Rochester school district.
      5926 Hunters Ridge Dr, WashingtonTownship_Macomb, MI 48094
      View Details
    • $7,015,786
      98,221 SF

      Industrial Facility in Washington, Michigan

      98,221 SF industrial facility in a well-established corridor.
      61166 Van Dyke Ave, Washington, MI 48094
      View Details
    • $1,100,000

      Industrial Land Near M-53

      7.9 acres of industrial land for sale near M-53.
      61910 - 61970 Van Dyke, Washington, MI 48094
      View Details
    • Contact for pricing
      71,309 SF

      Romeo Village Shopping Center

      Fully occupied shopping center with strong tenant performance in Washington.
      66030-66152 Van Dyke Rd, Washington, MI 48095
      View Details
    • $80,000

      Residential Land in Washington, MI

      Half-acre homesite in Romeo School District on a quiet street.
      0 Cathey, Washington, MI 48094
      View Details
    • $80,000

      Residential Land in Washington, MI

      0.62 acre homesite in Romeo School District.
      0 Cathey, Washington, MI 48094
      View Details
    • $995,000
      16,000 SF

      10 Acre Industrial Land Parcel

      10 acre industrial land parcel with utilities coming soon.
      61660 Van Dyke Ave, Washington, MI 48094
      View Details

    FAQs

    What type of property is this?
    Land - 13 acres of land with preliminary site plan approval.
    Where is this land located?
    The property is located at 31 Mile Rd & Mound Rd Washington, MI.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 13 Acres of Land; Preliminary Site Plan Approved; Four Separate Lots
    (586) 243-3488 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Boyd Kraft
    Boyd Kraft
    Real Estate License ID: MI 6501076461
    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
    31 Mile Rd & Mound Rd, WASHINGTON, MI 48095
    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!