Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    27 27 Mile Rd New Haven, MI 48048

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    27 27 Mile Rd New Haven, MI 48048

    View on Map
    • Land
    • 84.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 27 27 Mile Rd

    Lot size
    84.00 lot acres
    Property type
    Land

    Description

    This exceptional 84-acre parcel located on 27 Mile Road in Lenox, Macomb County, Michigan (zip code 48048), presents a significant development opportunity. Zoned RL & RH, the property boasts a pre-existing consent judgement for 215 residential lots, streamlining the approval process. The expansive land offers significant potential for residential development, catering to a growing community. Situated in New Haven, Michigan, this location provides convenient access to essential amenities and infrastructure. Key utilities are readily available, with water on-site and sewer access off Gratiot. The property's substantial size and strategic zoning make it an attractive investment for developers seeking to capitalize on the high demand for residential properties in this thriving area. The latitude and longitude coordinates are 42.7336097, -82.8318776, respectively. The asking price for this remarkable opportunity is $1,590,000. This is a rare chance to acquire a large, well-situated parcel with significant development potential. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8319
    Latitude
    42.7336

    Comparable in this City

    • Value Estimation by Request
      2.29 Acres

      Twenty-Six Mile Rd

      Land • 2.29 Acres
      0 Twenty-Six Mile Rd, New Haven, MI 48048
      View Details
    • Value Estimation by Request
      8.56 Acres

      26 Mile & New Hvn Rd

      Land • 8.56 Acres
      0 26 Mile & New Hvn Rd, New Baltimore, MI 48048
      View Details
    • Value Estimation by Request
      3.00 Acres

      27 Mile Rd

      Land • 3.00 Acres
      27 Mile Rd, New Haven, MI 48048
      View Details
    • Value Estimation by Request
      24.78 Acres

      Gratiot Vacant Land

      Land • 24.78 Acres
      0 Gratiot Vacant Land, New Haven, MI 48048
      View Details
    • Value Estimation by Request
      11.50 Acres

      58700 Rosell Rd

      Land • 11.50 Acres
      58700 Rosell Rd, New Haven, MI 48048
      View Details
    • Value Estimation by Request
      24.20 Acres

      Gratiot Rd

      Land • 24.20 Acres
      0 Gratiot Rd, New Haven, MI 48048
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      36865 26 Mile Rd, Lenox, MI 48048
      View Details
    • $649,000
      10.00 Acres

      Industrial Land with Renovated House

      Industrial development opportunity with renovated house on 10 acres.
      57291 Rosell Rd, New Haven, MI 48048
      View Details
    • Contact for pricing

      Versatile Land Near Interstate-94

      Agricultural land with potential for rezoning near major retailers.
      28937 26 Mile Rd, New Haven, MI 48048
      View Details
    • $400,000
      10.00 Acres

      10 Acres on Gratiot

      10 acres of vacant land in Lenox, Michigan.
      62800 Gratiot Ave, Lenox, MI 48048
      View Details
    • $400,000
      41.00 Acres

      Lenox Township Residential Land

      41-acre residential land parcel in Lenox Township, Michigan.
      37950 27 Mile Rd, New Haven, MI 48048
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Ground Lease

      Commercial land available for ground lease near I-94.
      Twenty-Six Mile Rd, Lenox, MI 48048
      View Details
    • Contact for pricing

      Retail Space in High-Visibility Location

      Retail space for lease in a rapidly growing commercial corridor.
      57070 Gratiot Ave, New Haven, MI 48048
      View Details
    • Contact for pricing
      5,445 SF

      Medical Office Space Available

      Flexible medical spaces with easy access and on-site management.
      36555 26 Mile Rd, Lenox, MI 48048
      View Details
    • Contact for pricing

      Office/Hi-Tech Space For Rent

      Office/Hi-Tech space available for rent, landlord may divide.
      31029 Comcast Dr, New Haven, MI 48048
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail space with high visibility and customer traffic.
      36865 26 Mile Rd, Lenox, MI 48048
      View Details
    • $11 SF/Yr

      Office/Hi-Tech Space For Lease

      Office and hi-tech space available for lease with flexible options.
      31029 Comcast Dr, New Haven, MI 48048
      View Details
    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.
    27 27 Mile Rd
    New Haven, MI 48048
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!