Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land on Lapeer Road Title is generated by Realmo AI

    Lapeer Rd, Auburn Hills, MI 48326

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land with frontage on Lapeer Road (M-24).

    Type:Land
    Added:
    Jun 23, 2021
    Days on Market:
    1807
    Last Refresh:
    May 19 at 9:02 pm

    Property Features for Lapeer Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Paul Hoge
    Paul Hoge

    Listing agent Paul Hoge License #MI 6502127881

    Listing office Signature Associates Warren

    Listing date Jun 23, 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 Signature Associates Warren

    HighLights

    • 1,185’ Frontage on Lapeer Road (M‑24)
    • Excellent Commercial Potential

    Overview

    This commercial land offers excellent potential with 1,185 feet of frontage on Lapeer Road (M-24).
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Auburn Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2420215
    Latitude
    42.6935198

    Nearby Similar for Sale

    • $349,999
      1,236 SF

      Turnkey Auburn Hills Short-Term Rental

      Fully furnished, operational short-term rental business in Auburn Hills.
      545 CALGARY Street, Auburn Hills, MI 48326
      View Details
    • $399,900
      2,700 SF

      Updated Duplex Near Oakland University

      Updated duplex with new kitchens, baths, near Oakland University.
      2190 Kircher, Auburn Hills, MI 48326
      View Details
    • $2,700,000
      13,222 SF

      High-Tech Office with Workout Facility

      State-of-the-art office space suitable for various professional uses.
      1700 Harmon Road, Auburn Hills, MI 48326
      View Details
    • $339,999

      Turnkey Short-Term Rental Business

      Fully furnished, operational short-term rental in Auburn Hills.
      545 CALGARY St, Auburn Hills, MI 48326
      View Details
    • $349,999

      Turnkey Short-Term Rental Business

      Fully furnished, operational short-term rental business in Auburn Hills.
      545 CALGARY St, Auburn Hills, MI 48326
      View Details
    • $419,000

      Updated Duplex Near Oakland University

      Updated duplex with new kitchens, baths, and outdoor entertaining space.
      2190 Kircher Ct, Auburn Hills, MI 48326
      View Details
    • $12
      4,050 SF

      Auburn Hills Flex Space Available

      Flex space available in Auburn Hills near I-75.
      3355 Bald Mountain Rd, Auburn Hills, MI 48326
      View Details
    • $19
      66,888 SF

      Two-Story Office Building Near I-75

      66,888 SF office building with easy I-75 access.
      2851 High Meadow Circle, Auburn Hills, MI 48326
      View Details
    • $18
      55,528 SF

      Four-Story Office Building with Atrium

      Four-story office building with easy access to I-75.
      3201 University Dr, Auburn Hills, MI 48326
      View Details
    • $17
      131,636 SF

      Renovated Office Building on University

      Auburn Hills office building under new ownership and management.
      3250-3256 University Drive, Auburn Hills, MI 48326
      View Details
    • $850,000

      Development Site in Downtown Auburn

      Commercial land for sale in downtown Auburn Hills.
      3746 Auburn Road, Auburn Hills, MI 48326
      View Details
    • $250,000

      Auburn Hills Redevelopment Opportunity

      Land available in downtown Auburn Hills for redevelopment.
      3758 Auburn Road, Auburn Hills, MI 48326
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with frontage on Lapeer Road (M-24).
    Where is this commercial land located?
    The property is located at Lapeer Rd Auburn Hills, MI.
    What is the asking price?
    The asking price for this property is $3,815,160.
    What are key features of this property?
    This property features: 1,185’ Frontage on Lapeer Road (M‑24); Excellent Commercial Potential
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Paul Hoge
    Paul Hoge
    Real Estate License ID: MI 6502127881
    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
    Lapeer Rd, Auburn Hills, MI 48326
    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!