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    Oakville Waltz Rd Carleton, MI 48164
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    Oakville Waltz Rd, Carleton, MI 48164

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

    Current Use by Public Records

    • Land

    Property Details for 0 Oakville Waltz Rd

    Lot size
    84.50 lot acres
    Property type
    Land

    Description

    This exceptional 84.5-acre commercial land parcel presents a unique development opportunity in Wayne County, Michigan. Strategically located on Oakville Waltz Road in New Boston, MI 48164 (APN 01-005-006-00), this property boasts convenient access to major transportation arteries. Its proximity to I-275 and a mere 7 miles from the Detroit Metropolitan Airport Exit makes it highly desirable for a variety of commercial ventures. The land is zoned I-1, offering flexibility for various development plans. The property's significant size, coupled with the presence of existing ponds, provides ample space for development and potential incorporation of water features into the landscape design. These ponds could also serve as effective detention areas, streamlining the development process. The surrounding community is known for its business-friendly environment, fostering a supportive atmosphere for new businesses. Offered at $1,500,000 ($17,751.48/acre), this property represents a compelling investment opportunity for discerning developers seeking a prime location with significant potential. Don't miss this chance to acquire a substantial parcel in a thriving area with excellent infrastructure and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carleton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4309
    Latitude
    42.0876

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      8.00 Acres

      Oakville Waltz Rd

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      0 Oakville Waltz Rd, Carleton, MI 48164
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    • Value Estimation by Request
      5.00 Acres

      34595-34887 Sibley Rd

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      34595-34887 Sibley Rd, Huron Charter Township, MI 48164
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    Similar Nearby for Sale

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      Land Available Near I-275

      5-50+/- acres available for sale near I-275 in New Boston.
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    • $299,900
      8.00 Acres

      Oakville Waltz: 8-Acre Development Site

      Prime Commercial/Residential Land, $299,900
      0 Oakville Waltz Rd, Carleton, MI 48164
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    • Contact for pricing

      Land Available For Sale

      7.74 acres of land available for sale.
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      Side by Side Land Lots

      Two adjacent land lots with potential for development.
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    • $92,400
      Pending

      Land For Sale

      Land available in New Boston, MI.
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      34595-34887 Sibley Rd, New Boston, MI 48164

      Land
      34595-34887 Sibley Rd, New Boston, MI 48164
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    Similar Nearby for Lease

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      7,936 SF

      Commerce Drive Warehouse Space

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      3,167 SF

      Industrial Space Available For Lease

      3,167 SF industrial space available for lease.
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      Industrial Single Tenant Space

      249,600 SqFt industrial space available for rent.
      35058 Prescott St, New Boston, MI 48164
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    Carleton, MI 48164
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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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