Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land in Hall Road Corridor Title is generated by Realmo AI

    45400 Romeo Plank Rd, Macomb, MI 48044

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land with scenic views and easy retail access.

    Type:Land
    Added:
    May 14, 2024
    Days on Market:
    754
    Last Refresh:
    May 12 at 11:38 pm

    Property Features for 45400 Romeo Plank Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Pete Brown

    Listing agent Pete Brown License #MI

    Listing office Insite Commercial

    Listing date May 14, 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 Insite Commercial

    HighLights

    • Ideal for hospital, senior living, or medical group.
    • Potential to create a campus‑type setting.
    • Scenic wetlands, rivers, and ponds on the property.
    • Located in the heart of the Hall Road Corridor.
    • Easy access to retail venues.
    • Easy access to restaurants.

    Overview

    This commercial land offers a tremendous opportunity for development of a hospital, senior living facility, or medical group. The property's attributes include scenic wetlands, rivers, and ponds, creating a campus-type environment. The location is in the heart of the Hall Road Corridor, providing easy access to retail and restaurant venues.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.936013
    Latitude
    42.631418

    Nearby Similar for Sale

    • $139,900

      Macomb Vacant Land Opportunity

      Vacant land with potential for development in Macomb, MI.
      23206 21 MILE Road, Macomb, MI 48042
      View Details
    • $1,200,000

      Prime Corner Land Opportunity

      2.92 acres at the corner of 24 Mile and North.
      52900 North Ave, MacombTownship_Macomb, MI 48042
      View Details
    • $24
      8,987 SF

      Hall Road Professional Office Building

      Professional office building with excellent Hall Road exposure and signage.
      22525 Hall Road, Macomb, MI 48042
      View Details
    • $250,000

      Cleared Residential Development Land

      Build-ready cleared land with dual egress points and R-1 residential zoning for single-family development.
      Omo Road, Macomb, MI 48042
      View Details
    • $2,479,000
      7,800 SF

      Free Standing Medical Building

      Free standing medical building in a premier location.
      45441 Heydenreich Rd, Macomb, MI 48044
      View Details
    • $1,950,000

      Residential Land with Rental Homes

      Land offering two existing rental homes near Ascension-St. John Hospital and retail development areas.
      50675-50811 Romeo Plank Road, Macomb, MI 48044
      View Details
    • $250,000

      Vacant Commercial Lot Zoned C-2

      Build-ready vacant parcel in Macomb Township, zoned C-2 for commercial development.
      16701 25 Mile Road, Macomb, MI 48042
      View Details
    • Contact for pricing
      84,068 SF

      Class A Medical Office Building

      High-end medical office building with expansion potential in high-growth area.
      17900 23 Mile Rd, Macomb, MI 48044
      View Details
    • $3,875,000

      Zoned M-2 Industrial Land Parcel

      15.5-acre industrial land parcel zoned M-2, with a relocated drain and ready site configuration considerations.
      18074 23 Mile Rd, Macomb, MI 48042
      View Details
    • $250,000

      Shovel-Ready Industrial Land

      Industrial development lots with on-site utilities and build-to-suit capability for qualified users.
      17300 23 Mile Rd, Macomb, MI 48044
      View Details
    • Contact for pricing

      Hall Road Retail Anchor Position

      Prime retail location on Hall Road, high-traffic area.
      45300 Hayes Road, Macomb, MI 48044
      View Details
    • $760,000

      Prime Buildable Land Available

      Buildable land with utilities available south of 24 Mile Road.
      0 North Ave, MacombTownship_Macomb, MI 48042
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with scenic views and easy retail access.
    Where is this commercial land located?
    The property is located at 45400 Romeo Plank Rd Macomb, MI.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: Ideal for hospital, senior living, or medical group.; Potential to create a campus‑type setting.; Scenic wetlands, rivers, and ponds on the property.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Pete Brown
    Real Estate License ID: MI
    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
    45400 Romeo Plank Rd, Macomb, MI 48044
    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!