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    61660 Van Dyke Ave Washington, MI 48094
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    61660 Van Dyke Ave, Washington, MI 48094

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    • Land
    • 16,000 SF
    • 10.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 61660 Van Dyke Ave

    Lot size
    10.00 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 10-acre industrial land parcel, located at 61660 Van Dyke Ave, Washington, MI 48094 (APN 24-04-22-400-005), presents a unique investment opportunity. Currently vacant, this property boasts a substantial 16,000 square feet and is ideally suited for a variety of industrial uses, including landscaping businesses or trucking yards. The lot dimensions measure 484 feet of frontage along Van Dyke Avenue by 723 feet deep. Utilities currently consist of a well and septic system, with sewer and water connections anticipated in the near future. Its strategic location, north of 28 Mile Road and east of Van Dyke Avenue in Macomb County, offers excellent accessibility and visibility. The asking price for this prime industrial land is $1,500,000. Don't miss this chance to acquire a sizable, well-positioned property with significant development potential. Contact us today to learn more.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0239
    Latitude
    42.7474

    Comparable in this City

    • Value Estimation by Request
      3.60 Acres

      61970 Van Dyke Rd

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      61970 Van Dyke Rd, Washington, MI 48094
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      $645,000
      8,060 SF

      60950 Van Dyke Rd

      INDUSTRIAL (GENERAL)
      60950 Van Dyke Rd, Washington, MI 48094-3902
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      0.90 Acres

      58019 Van Dyke Ave

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      58019 Van Dyke Ave, Washington, MI 48094
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      3.14 Acres

      11710 29th Mile Rd

      INDUSTRIAL (GENERAL)
      11710 29th Mile Rd, Washington, MI 48094-1713
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    • Value Estimation
      $8,415,000
      129,052 SF

      4505 26th Mile Rd

      INDUSTRIAL (GENERAL)
      4505 26th Mile Rd, Washington, MI 48094-2600
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    • Value Estimation by Request

      57695 Van Dyke Rd

      INDUSTRIAL (GENERAL)
      57695 Van Dyke Rd, Washington, MI 48094-2879
      View Details

    Similar Nearby for Sale

    • $130,000

      Land Parcel in Washington Township

      Land with pond access in Rochester school district.
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    • $900,000

      Land For Sale

      Land available in Washington Township, Macomb, MI.
      29 29 Mile Rd, Washington, MI 48094
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    • $1,100,000
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      Industrial Land with Small Garage

      Zoned industrial parcel near M-53, featuring a small garage and frontage on Van Dyke Avenue.
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      98,221 SF

      Industrial Facility in Washington, Michigan

      98,221 SF industrial facility in a well-established corridor.
      61166 Van Dyke Ave, Washington, MI 48094
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      Industrial Land Near M-53

      Industrial land for sale, close to M-53.
      61970 Van Dyke Ave, Washington, MI 48094
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    • New
      $49,900
      0.44 Acres

      Residential Land in Washington, MI

      Vacant land with utilities available in Washington, Michigan.
      Wicker St, Washington, MI 48094
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    Similar Nearby for Lease

    • $32,908

      Washington Township Commercial Space Available

      Commercial spaces available in renovated Washington Plaza, completion September 2025.
      58531-58625 Van Dyke Ave, Washington, MI 48094
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    • $33,656
      22,500 SF

      Renovating Warehouse Flex Space

      Auxiliary warehouse space is available in a building undergoing complete renovation, with completion targeted for September 2025.
      58531-58625 Van Dyke Ave, Washington Twp, MI 48094
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    • $2,393 /Mo
      1,600 SF

      Auxiliary Warehouse Space

      Auxiliary warehouse space available in a building undergoing complete renovation scheduled for September 2025.
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      Retail Space in Washington Township

      Retail spaces available for lease in Washington Township, Michigan.
      58531-58625 Van Dyke Ave, Washington, MI 48094
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      Turnkey Office/Medical/Retail Space Available

      Turnkey office, medical, or retail space for rent.
      6003 26 Mile Rd, Washington, MI 48094
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    • $6,250 /Mo
      2,500 SF

      Turnkey Restaurant Outlot Suite

      Turnkey restaurant on an outlot to Meijer near major retailers and close to M-53 and 26 Mile Road.
      57336 Van Dyke Ave, Washington Twp, MI 48094
      View Details
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    Washington, MI 48094
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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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