Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Middlebelt & Leroy Romulus, MI 48174

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

    Land available for sale.

    Type:Land
    Added:
    Nov 19, 2021
    Days on Market:
    1631
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for Middlebelt & Leroy

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Ryan Stipp
    Ryan Stipp

    Listing agent Ryan Stipp License #Michigan 6506047728

    Listing office Friedman Real Estate

    Listing date Nov 19, 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 Friedman Real Estate

    HighLights

    • Top 6 selling points from all property information

    Overview

    Land For Sale

    Land is available for sale.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Romulus
    County
    Wayne
    State
    Michigan
    Longitude
    -83.35
    Latitude
    42.2059

    Nearby Similar for Sale

    • $399,000
      2,604 SF

      Commercial Building in Romulus, MI

      Commercial building with showroom, office, and warehouse space for sale.
      36050 Goddard Road, Romulus, MI 48174
      View Details
    • $3,900,000
      2,600 SF

      Profitable Truck Stop Business Opportunity

      Turnkey truck stop with multiple revenue streams and strong sales.
      Undisclosed Undisclosed Road, Romulus, MI 48174
      View Details
    • $950,000

      Romulus Land Near Airport

      9.23 acres of land near Detroit Metro Airport.
      15715 Merriman Road, Romulus, MI 48174
      View Details
    • $2,990,000
      5,000 SF

      Romulus Golf Course and Restaurant

      117-acre Romulus property with golf course, clubhouse, and restaurant.
      20820 Inkster Road, Romulus, MI 48174
      View Details
    • $2,990,000

      Romulus Land with Golf Course

      117-acre property with golf course, clubhouse, restaurant, and residential lots.
      20820 Inkster Road, Romulus, MI 48174
      View Details
    • $700,000
      14,890 SF

      Romulus Retail Building For Sale

      14,890 SF building in downtown Romulus with mixed-use potential.
      36521 Goddard rd, Romulus, MI 48174
      View Details
    • $250,000

      Prime Commercial Land Near DTW

      2+ acre commercial parcel near Detroit Metro Airport.
      6851 Merriman Road, Romulus, MI 48174
      View Details
    • $95,000
      1,100 SF

      Industrial Land in Romulus, MI

      0.92-acre M2 Industrial-zoned property with potential for various business uses.
      34620 California Street, Romulus, MI 48174
      View Details
    • $37,000

      Versatile Land in Romulus, MI

      Land with residential and light industrial zoning near freeways.
      16801 Huron River Drive, Romulus, MI 48174
      View Details
    • $134,900
      800 SF

      Remodeled Industrial Space Near Airport

      Remodeled industrial space in Romulus, near I-94 and Detroit Metro Airport.
      6921 Middlebelt Road, Romulus, MI 48174
      View Details
    • $344,000

      Romulus Vacant Commercial Corner Lot

      Large corner lot suitable for various commercial uses.
      0 Merriman, Romulus, MI 48174
      View Details
    • $600,000
      27,700 SF

      Multi-Building Campus on 6+ Acres

      27,700 SF multi-building campus on 6.43 acres for sale.
      35408 Beverly Rd, Romulus, MI 48174
      View Details

    FAQs

    What type of property is this?
    Land - Land available for sale.
    Where is this land located?
    The property is located at Middlebelt & Leroy Romulus, MI.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Top 6 selling points from all property information
    (248) 848-4149 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ryan Stipp
    Ryan Stipp
    Real Estate License ID: Michigan 6506047728
    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
    Middlebelt & Leroy, Romulus, MI 48174
    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!