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    5705 Middlebelt Rd Garden City, MI 48135
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    5705 Middlebelt Rd Garden City, MI 48135

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    • Land
    • 1.41 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5705 Middlebelt Rd

    Lot size
    1.41 lot acres
    Property type
    Land

    Description

    This exceptional 1.41-acre commercial land parcel presents a remarkable investment opportunity in the thriving Garden City, Michigan market. Located at 5705 Middlebelt Road, Lot #301, this property boasts a highly desirable C-2 zoning designation, opening doors to a wide range of commercial development possibilities. The site is conveniently situated near the intersection of Ford Road and Middlebelt Road, ensuring high visibility and accessibility for any future business. Existing infrastructure includes readily available sewer, gas, and water utilities, simplifying the development process and minimizing upfront costs. The property's strategic location benefits from strong traffic counts and favorable demographics, promising significant potential for return on investment. With its substantial size and prime location, this 1.41-acre lot is ideally suited for a variety of commercial ventures, making it an exceptional opportunity for discerning investors seeking a foothold in a dynamic and growing market. The asking price for this exceptional property is $600,000. Wayne County location and 48135 zip code.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3322
    Latitude
    42.3268

    Comparable in this City

    • Value Estimation by Request
      5.71 Acres

      32400 Frd Rd

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      32400 Frd Rd, Garden City, MI 48135-1512
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    • Value Estimation by Request
      1,202 SF

      1139 Inkster Rd

      COMMERCIAL (GENERAL) • 1,202 SF
      1139 Inkster Rd, Garden City, MI 48135-3042
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    • Value Estimation by Request
      2,200 SF

      Warren

      COMMERCIAL (GENERAL) • 2,200 SF
      Warren, Garden City, MI 48135
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    • Value Estimation by Request
      1,066 SF

      City Hall

      COMMERCIAL (GENERAL) • 1,066 SF
      City Hall, Garden City, MI 48135
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    • Value Estimation
      $580,000
      4,210 SF

      29016 Frd Rd

      COMMERCIAL (GENERAL) • 4,210 SF
      29016 Frd Rd, Garden City, MI 48135-2846
      View Details
    • Value Estimation by Request
      0.55 Acres

      31450 Frd Rd

      COMMERCIAL (GENERAL) • 0.55 Acres
      31450 Frd Rd, Garden City, MI 48135-1820
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Lot on Cherry Hill

      Commercial land for sale in a busy residential area.
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    • Contact for pricing
      9,999 SF

      Ford Road Mixed-Use Development Site

      1.15 acre lot with mixed-use zoning on Ford Road.
      30759 Ford Rd, Garden City, MI 48135
      View Details
    • $995,000

      1.15 Acre Mixed-Use Lot

      1.15 acre lot with mixed-use zoning and 247 feet frontage.
      30759 Ford Rd, Garden City, MI 48135
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    • $299,000
      0.41 Acres

      Development Site in Garden City

      Shovel-ready 0.41-acre site for multi-family development.
      116 Arcola St, Garden City, MI 48135
      View Details

    Similar Nearby for Lease

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      Accessible Warehouse with Heavy Power

      11,040 SF warehouse with heavy power and convenient access.
      32537 Parklane St, Garden City, MI 48135
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    • $2,000 /Mo
      1,200 SF

      Garden City Commercial Space

      Commercial space for office, retail, restaurant, service, or medical.
      6629 Middlebelt Rd, Garden City, MI 48135
      View Details
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    Garden City, MI 48135
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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.

    More about this property
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    5705 Middlebelt Rd, Garden City, MI, 48135
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