Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    M-59 & US-23 Hartland, MI 48353

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Graded commercial land with detention pond and circular access.

    Type:Land
    Added:
    Jul 24, 2021
    Days on Market:
    1718
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for M-59 & US-23

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Richard Shlom

    Listing agent Richard Shlom License #MI 6501232184

    Listing office Landmark Commercial Real Estate Services

    Listing date Jul 24, 2021

    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 Landmark Commercial Real Estate Services

    Overview

    Commercial Land Ready for Development

    This commercial land is graded and includes a detention pond, making it ready for vertical construction. A second curb cut has been installed along M-59 through the adjacent property to the east, providing circular access. The property is situated near AutoZone and Sherwin Williams to the west. Meijer and Walmart anchored shopping centers are located just west of the site. Several national retailers are in the market, including Target, CVS, Kroger, and Walgreens.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hartland
    County
    Livingston
    State
    Michigan
    Longitude
    -83.716
    Latitude
    42.6516

    Nearby Similar for Sale

    • $149,900

      Commercial Vacant Land in Hartland

      0.60 acres of commercial land on Highland Road.
      000 HIGHLAND Road, Hartland, MI 48353
      View Details
    • $825,000

      Commercial Land Ready for Development

      Commercial land with detention pond and graded property ready.
      11381 Highland Rd, Hartland, MI
      View Details
    • $3,995,000
      25,540 SF

      Best Western Hotel For Sale

      60-room branded hotel with high visibility and direct access.
      10087 Highland Rd, Hartland, MI 48353
      View Details
    • $1,750,000
      7,753 SF

      Medical Condos Investment Opportunity

      Medical condos with leases in Hartland Millennium Center.
      11174 Highland Rd, Hartland, MI
      View Details
    • $1,700,000

      Hartland Commercial Land on M-59

      4.13+/- acres of commercial land with frontage on M-59.
      Highland Rd., Hartland, MI
      View Details
    • $2,200,000
      4,697 SF

      Hartland Retail Redevelopment Opportunity

      Prime commercial land for redevelopment near major retailers and US-23.
      10587 Highland Rd, Hartland, MI 48353
      View Details
    • Contact for pricing

      Hartland Township Commercial Land Available

      Commercial land in Hartland Towne Square development for sale.
      NEC M-59 & US-23, Hartland, MI 48353
      View Details
    • $1,995,000

      Land Near US 23

      Land with high traffic, visibility, and utilities available.
      Highland Rd, Hartland, MI 48353
      View Details
    • Contact for pricing

      Hartland Vacant Land Parcels

      Vacant land parcels in Hartland Towne Square Shopping Center.
      NEC M-59 & US-23, Hartland, MI 48353
      View Details
    • $185,000

      Commercial Site Near US-23

      One-acre commercial site with M-59 access in Hartland, MI.
      V/L Highland Road, Hartland, MI
      View Details

    FAQs

    What type of property is this?
    Commercial land - Graded commercial land with detention pond and circular access.
    Where is this commercial land located?
    The property is located at M-59 & US-23 Hartland, MI.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: Ready‑to‑build graded property perfect for commercial development.; High‑traffic location on M‑59 with excellent visibility.; Circular access via two curb cuts, including one newly installed.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Richard Shlom
    Real Estate License ID: MI 6501232184
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!