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    Side Of Martin Pkwy Commerce Charter Township, MI 48390
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    Side Of Martin Pkwy, Commerce Charter Township, MI 48390

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    • Retail properties & Spaces
    • 4.26 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Side Of Martin Pkwy

    Lot size
    4.26 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 4.26-acre commercial land parcel is strategically located on the west side of Martin Parkway in Commerce Charter Township, Oakland County, Michigan (zip code 48390). Situated just south of Oakley Park and adjacent to the Commerce Town Hall, this property benefits from a high-visibility location surrounded by thriving new residential developments, ensuring a strong customer base. The permitted zoning is Neighborhood Commercial/Office, making it ideal for a variety of uses including retail, office, or medical facilities. All utilities are readily available on-site, simplifying development and reducing upfront costs. The property's ample size offers significant flexibility for building plans, allowing for substantial development potential. Given its prime location, excellent visibility, and versatile zoning, this parcel presents a unique opportunity for investors and developers seeking a high-return investment in a rapidly growing area. The asking price for this exceptional property is $1,750,000. Coordinates: Latitude 42.5612601, Longitude -83.4496616.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Commerce Charter Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4497
    Latitude
    42.5613

    Comparable in this City

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      8.32 Acres

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      30,000 SF

      4052-4100 Haggerty Rd

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      4052-4100 Haggerty Rd, Commerce Charter Township, MI 48390
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      2.30 Acres

      Swc Oakley Park And Haggerty Parcel J

      Land
      0 Swc Oakley Park And Haggerty Parcel J, West Bloomfield Township, MI 48390
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      2141-2181 Pontiac Trl

      Office Spaces
      2141-2181 Pontiac Trl, Commerce Charter Township, MI 48390
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    • Value Estimation by Request
      1,080 SF

      123 Walled Lake Dr

      Office Spaces
      123 Walled Lake Dr, Walled Lake, MI 48390
      View Details
    • Value Estimation
      $535,000
      3,230 SF

      2340 Commerce Rd

      DENTAL BUILDING
      2340 Commerce Rd, Walled Lake, MI 48390-2174
      View Details

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      Land on Martin Parkway

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      Wolverine Lake Redevelopment Opportunity

      Redevelopment opportunity near Wolverine Lake with excellent frontage and exposure.
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      Freestanding Restaurant with Drive-Thru

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      Land For Sale

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      Traditional Dr, Walled Lake, MI 48390
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      Wooded Lot in Shores Glenwood

      Wooded lot in a great location within Shores of Glenwood.
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      Land For Sale

      Land available for sale.
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    Similar Nearby for Lease

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      Office Space Available For Lease

      Office space available for lease at $14 per square foot.
      55 N Pond Dr, Walled Lake, MI 48390
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      Versatile Commercial Space Available

      Prime lease opportunities in high-traffic location suitable for various businesses.
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      Office Space in Industrial Building

      Second-floor office space with open layout and kitchenette.
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      Commerce Twp Office/Warehouse Space

      Office and warehouse spaces for lease in Commerce Township.
      2775 Haggerty Rd, Commerce Twp, MI 48390
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    Commerce Charter Township, MI 48390
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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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