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    Ready-to-Build Farmland Parcel Title is generated by Realmo AI

    Parcel 3 Windmill Lane, Imlay City, MI 48444

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    Claim this Listing
    For Sale
    $97,000

    LAND - Imlay City, MI

    Lot size:
    10.02 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    223
    Last Refresh:
    Jun 6 at 3:06 am

    Property Features for Parcel 3 Windmill Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    01103501540
    Lot size
    10.02 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    472

    Utilities

    Water source
    Private

    We can help!

    Listing Contact
    Suzanne St. John
    Suzanne St. John

    Listing agent Suzanne St. John License #6501282438

    Listing office Century 21 Professionals 48680 Van Dyke, MI

    Listing date Oct 27, 2025

    MLS# 50192674 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

    • 10‑acre building site with potential for a single large residential site or up to 3 building sites
    • Culvert is in, and large frontage is available along Windmill Ln (approx. 200 ft per lot; 600 total frontage)
    • Utilities: electric at street and gas near the property
    • Good elevations reported, with plenty of room for horses
    • Report on file with survey available
    • Well and septic are needed; property is close to pavement and the freeway

    Overview

    This parcel offers a ready-to-build or farm configuration on approximately 10.02 acres. The property is described as having good elevations, with a culvert already in place. Electric is available at the street, gas is noted as nearby, and a well and septic are needed. A survey is available, and the lot has the flexibility to be used as one large lot or divided into three possible sites.

    The property is reported to have large frontage along Windmill Lane, with approximately 200 feet per lot for each split site and about 600 total frontage. The remarks also note proximity to pavement and a freeway.

    For buyers looking for residential development or agricultural use, the site provides space for horses and supports either a single home and property setup or a small multi-site arrangement. Prospective buyers should plan for well and septic, and review the provided report on file as part of their due diligence before proceeding with buildout or subdivision.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Imlay City
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.06806093
    Latitude
    43.04157057

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Rural parcel with large frontage, ready utilities access at the street, and elevations suited for building or farming.
    Where is this agricultural land / farmland located?
    The property is located at Parcel 3 Windmill Lane Imlay City, MI.
    What is the asking price?
    The asking price for this property is $97,000.
    What are key features of this property?
    This property features: 10‑acre building site with potential for a single large residential site or up to 3 building sites; Culvert is in, and large frontage is available along Windmill Ln (approx. 200 ft per lot; 600 total frontage); Utilities: electric at street and gas near the property
    (586) 567-5368
    We can help!
    Listing Contact
    Suzanne St. John
    Suzanne St. John
    Real Estate License ID: 6501282438
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    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.

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