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    Avalon Mdw New Baltimore, MI 48051
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    Avalon Mdw New Baltimore, MI 48051

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

    Current Use by Public Records

    • Land

    Property Details for 0 Avalon Mdw

    Lot size
    11.59 lot acres
    Property type
    Land

    Description

    This exceptional 11.59-acre parcel, known as Avalon Meadows, presents a unique investment opportunity in Chesterfield, Michigan (Macomb County, zip code 48051). Located at the intersection of Gratiot Ave and 25 Mile Road, this property boasts convenient access to I-94, enhancing its appeal for various development projects. The land is zoned RM2, permitting multi-family residential development. Detailed site plans for an 80-unit condominium development have already been approved, significantly streamlining the approval process for a future owner. Comprehensive due diligence materials are available, including a topographic survey, Phase 1 environmental assessment, and a geotechnical report. These reports provide a thorough understanding of the site's characteristics and potential development challenges. The property's Assessed Parcel Number (APN) is 09-04-451-006. The asking price for this strategically located and well-documented property is $950,000. This presents a rare chance to acquire a ready-to-develop site with significant potential for substantial returns. The property's dual commercial and residential zoning offers flexibility for a variety of development scenarios. Interested parties are encouraged to review the available documentation for a complete understanding of the property's potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8064
    Latitude
    42.7079

    Comparable in this City

    • Value Estimation by Request
      15.00 Acres

      55370 Gratiot Ave

      Land • 15.00 Acres
      55370 Gratiot Ave, New Baltimore, MI 48051
      View Details
    • Value Estimation by Request
      1.30 Acres

      25314 21 Mile Rd

      Land • 1.30 Acres
      25314 21 Mile Rd, New Baltimore, MI 48051
      View Details
    • Value Estimation by Request
      1.30 Acres

      25314 21 Mile Rd

      Land • 1.30 Acres
      25314 21 Mile Rd, New Baltimore, MI 48051
      View Details
    • Value Estimation by Request
      1.41 Acres

      48530 Gratiot Ave

      Land • 1.41 Acres
      48530 Gratiot Ave, New Baltimore, MI 48051
      View Details
    • Value Estimation by Request
      1.60 Acres

      53579 Gratiot Ave

      Land • 1.60 Acres
      53579 Gratiot Ave, New Baltimore, MI 48051
      View Details
    • Value Estimation by Request
      2.99 Acres

      53579 Gratiot Ave

      Land • 2.99 Acres
      53579 Gratiot Ave, New Baltimore, MI 48051
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale in Chesterfield, MI.
      Avalon Mdws, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Vacant Land For Sale

      Vacant land available for sale.
      51231 Chesterfield Rd, Chesterfield Township, MI 48051
      View Details
    • Contact for pricing

      Gratiot Avenue Redevelopment Opportunity

      Main road frontage with renovation and redevelopment potential.
      52365 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Land Available for Sale

      Land available for sale in New Baltimore, Michigan.
      48745 Gratiot Ave, New Baltimore, MI 48051
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale at Gratiot Ave & 25 Mile Rd.
      25 Mile Rd, New Baltimore, MI 48051
      View Details
    • Contact for pricing

      Development Site with Dual Frontage

      Land for development with dual frontage near 24 Mile Rd.
      53153 Gratiot Ave, New Baltimore, MI 48051
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      27322 23 Mile Rd, New Baltimore, MI 48051

      Land
      27322 23 Mile Rd, New Baltimore, MI 48051
      View Details
    • Contact for pricing

      Commercial Land for Rent

      Commercial land available for rent in Chesterfield, Michigan.
      50500 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Turnkey Restaurant Space Available

      Restaurant space in a busy center on 23 Mile Road.
      27801 23 Mile Rd, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Heavy Manufacturing Facility For Rent

      Heavy manufacturing facility with office, power, and storage yard.
      50270 E Russell Schmidt Blvd, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 2,512 square feet.
      50670-50680 Gratiot Ave, Chesterfield, MI 48051
      View Details
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    New Baltimore, MI 48051
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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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