Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Residential-Use Land in Overlay Title is generated by Realmo AI

    Main Street, Memphis, MI 48041

    View on Map
    Claim this Listing
    For Sale
    $114,900

    LAND - Memphis, MI

    Lot size:
    1.01 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    105
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for Main Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    50-04-03-02-179-027; 026
    Lot size
    1.01 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Robert Kean
    Robert Kean

    Listing agent Robert Kean License #6506045064

    Listing office Coldwell Banker Professionals 67395 Main St, MI

    Listing date Feb 19, 2026

    MLS# 50199787 Listing URL

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two cleared lots in Memphis, totaling over 1 acre
    • Public water available; city utilities are at the street
    • Zoned for residential, with the property located in a commercial overlay district
    • Lots addressed as 80111 and 80147 Main

    Overview

    This offering includes two parcels that have been cleared and total just over one acre. The land is addressed as 80111 and 80147 Main. The parcels are currently zoned for residential use.

    The property is located in Memphis, Michigan, and sits within a commercial overlay district. City utilities are available at the street, supporting straightforward development planning. The specific road frontage details and exact street address for the overall property are listed as Main Street, Memphis, MI 48041.

    For buyers and developers, the combination of cleared acreage and available city utilities can simplify site readiness. The residential zoning with a commercial overlay district may support a broader range of intended uses, subject to applicable local requirements. Interested parties should review overlay rules and permitted development options before finalizing plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Memphis
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.76931109
    Latitude
    42.89207873

    Nearby Similar for Sale

    • $187,000
      1,242 SF

      Turn-Key Retail and Restaurant Building

      Commercially zoned Main Street storefront with updated interiors, partial basement storage, and existing kitchen exhaust and fire suppression.
      80820 Main Street, Memphis, MI 48041
      View Details
    • $220,000

      Downtown Memphis Mixed-Use Property

      Versatile investment: commercial space and residential apartment in downtown Memphis.
      80847 Main St, Memphis, MI 48041
      View Details
    • $1,499,900

      105 Acres Bordering I-69 Ramp

      105 acres with I-69 and M-19 frontage.
      0 Kinney Rd, RileyTownship_StClair, MI 48041
      View Details
    • $1,499,900

      Versatile Land with Highway Access

      105+/- acres with I-69 and M-19 frontage.
      Kinney Road, Riley Twp, MI 48041
      View Details
    • $199,999
      4,232 SF

      Versatile Land in Memphis, MI

      Commercial/Residential land in the heart of Memphis, Michigan.
      80375 MAIN Street, Memphis, MI 48041
      View Details
    • $114,900

      Residential Land Parcel with Space to Build

      A 13.66-acre homesite in Riley Township, positioned as the middle lot among three adjacent parcels.
      0 Hill Lot 2 Road, Memphis, MI 48041
      View Details
    • $87,000

      10-Acre Vacant Land Parcel

      10-acre vacant land parcel ready for development in Memphis, MI.
      Cowhy Rd. Parcel "B", Memphis, MI 48041
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two cleared lots with city utilities at the street, zoned residential yet within a commercial overlay district.
    Where is this residential land & home lot located?
    The property is located at Main Street Memphis, MI.
    What is the asking price?
    The asking price for this property is $114,900.
    What are key features of this property?
    This property features: Two cleared lots in Memphis, totaling over 1 acre; Public water available; city utilities are at the street; Zoned for residential, with the property located in a commercial overlay district
    (810) 650-5850
    We can help!
    Listing Contact
    Robert Kean
    Robert Kean
    Real Estate License ID: 6506045064
    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
    Main Street, Memphis, MI 48041
    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!