Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land For Lease Title is generated by Realmo AI

    Michigan Ave & Old Canton Center Rd, Canton, MI 48188

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Commercial land available for lease.

    Type:Retail, Land
    Added:
    Nov 5, 2022
    Days on Market:
    1306
    Last Refresh:
    May 12 at 10:18 pm

    Property Features for Michigan Ave & Old Canton Center Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Land

    Spaces For Lease

    at Michigan Ave & Old Canton Center Rd Contact us

    We can help!

    Listing Contact
    Gordon Hyde

    Listing agent Gordon Hyde License #MI 6501401975

    Listing office Landmark Commercial Real Estate Services

    Listing date Nov 5, 2022

    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 Landmark Commercial Real Estate Services

    HighLights

    • For Lease

    Overview

    Commercial land is available for lease at the intersection of Michigan Avenue and Old Canton Center Road in Canton, Michigan. The property is suitable for commercial real estate purposes.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4854
    Latitude
    42.2857

    Nearby Similar for Lease

    • $26 SF/Yr

      Canton Commercial Office and Storage

      Office suites and lower-level commercial space for lease.
      8582 N Canton Center Road, Canton, MI 48187
      View Details
    • $2,244/Mo
      1,924 SF

      Canton Automotive Plaza Garage Space

      Five-bay garage in established automotive plaza for lease.
      42605 Joy Rd, Canton, MI
      View Details
    • $1,837/Mo
      1,575 SF

      Canton Automotive Plaza Garage Space

      Four-bay garage in established automotive plaza for lease.
      42607 Joy Rd, Canton, MI
      View Details
    • $8 SF/Yr
      15,050 SF

      Freestanding Warehouse Space Available

      15,050 SF freestanding building with truckwell and dock.
      7522 Baron Dr, Canton, MI 48187
      View Details
    • Contact for pricing
      2,400 SF

      Canton Retail End-Cap Space

      Prime retail space in high-traffic Canton location.
      46540 Michigan Ave, Canton, MI 48188
      View Details
    • Contact for pricing

      Freestanding Restaurant Pad Site Available

      Freestanding restaurant pad site for lease in Canton, Michigan.
      2240 Canton Center Road | Canton, MI 48187
      View Details
    • Contact for pricing
      6,250 SF

      New Retail Development on Ford Road

      Retail spaces available in Canton near I-275 and Ford Road.
      40150 Ford Road | Canton, MI 48187
      View Details
    • Contact for pricing

      Retail/Medical Space on Ford Road

      Prime location with high visibility and ample parking.
      41913 Ford Road, Canton, MI 48187
      View Details
    • $1,083/Mo
      7,601 SF

      Retail Building on Michigan Avenue

      Retail spaces available in high-traffic area on Michigan Avenue.
      43667 Michigan Avenue 43667, CantonCharterTownship_Wayne, MI 48188
      View Details
    • Contact for pricing

      Retail Space on Ford Road

      Retail space available on Ford Road with high traffic volume.
      45145 Ford Road, Canton, MI, 48187
      View Details
    • $6 SF/Yr

      Canton Flex Space For Rent

      Flex space with great I-275 access in Canton, MI.
      8400 Ronda Dr, Canton, MI 48187
      View Details
    • Contact for pricing
      16,104 SF

      Canton Retail Space Available

      Retail spaces available, ranging from 2,650 to 16,104 SqFt.
      4011-4121 & 4081-4131 Canton Ctr Rd, Canton, MI 48188
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available for lease.
    Where is this commercial land located?
    The property is located at Michigan Ave & Old Canton Center Rd Canton, MI.
    What are key features of this property?
    This property features: For Lease
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gordon Hyde
    Real Estate License ID: MI 6501401975
    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
    Michigan Ave & Old Canton Center Rd, Canton, MI 48188
    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!