Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Morrissey Rd Grass Lake, MI 49240
    Property profile & analytics

    Morrissey Rd Grass Lake, MI 49240

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

    Current Use by Public Records

    • Land

    Property Details for 0 Morrissey Rd

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

    Description

    This exceptional offering presents a rare opportunity to acquire a highly desirable light industrial land parcel in Grass Lake, Michigan. Encompassing a total of 3.91 acres, this property is comprised of two contiguous parcels (2.54 acres and 1.37 acres) situated at the corner of Mt. Hope Road and Morrissey Road, offering excellent visibility and convenient access to I-94 Expressway via exit 150. The property is zoned LI (Light Industrial), making it ideal for a variety of contractor or service-based businesses. Key features include 502 feet of road frontage and a depth of 233 feet. Utilities are readily available, with gas and electric services already in place. A well and septic system are also present. The land is easily accessible via a paved road. The asking price for the entire 3.91-acre parcel is $390,000. Individual parcel pricing is also available: 1.37 acres for $175,000 and 2.54 acres for $215,000. Owner financing may be considered for qualified buyers. The APN numbers are 000-10-16-376-002-01 and 000-10-16-376-002-02. This property represents a significant investment opportunity in a rapidly growing area. Don't miss this chance to secure your future in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grass Lake
    County
    Jackson
    State
    Michigan
    Longitude
    -84.2045
    Latitude
    42.2958

    Comparable in this City

    • Value Estimation by Request
      1.07 Acres

      2365 Norvell Rd

      INDUSTRIAL (GENERAL) • 1.07 Acres
      2365 Norvell Rd, Grass Lake, MI 49240-9783
      View Details
    • Value Estimation by Request
      444 SF

      4950 Loveland Rd

      INDUSTRIAL (GENERAL) • 444 SF
      4950 Loveland Rd, Grass Lake, MI 49240-9106
      View Details
    • Value Estimation by Request

      3901 Willis Rd

      INDUSTRIAL (GENERAL)
      3901 Willis Rd, Grass Lake, MI 49240-9791
      View Details
    • Value Estimation by Request
      2.68 Acres

      14005 Leach Rd

      INDUSTRIAL (GENERAL) • 2.68 Acres
      14005 Leach Rd, Grass Lake, MI 49240
      View Details
    • Value Estimation by Request
      31.79 Acres

      14500 Coy Dr

      INDUSTRIAL (GENERAL) • 31.79 Acres
      14500 Coy Dr, Grass Lake, MI 49240-9207
      View Details
    • Value Estimation
      $535,000
      13,787 SF

      11599 Morrissey Rd

      INDUSTRIAL (GENERAL) • 13,787 SF
      11599 Morrissey Rd, Grass Lake, MI 49240-9261
      View Details

    Similar Nearby for Sale

    • $150,000
      10.00 Acres

      Land For Sale Grass Lake

      10 acre land parcel available in Grass Lake, Michigan.
      Lot L Willis Rd, Grass Lake, MI 49240
      View Details
    • New
      $115,000
      9.93 Acres

      Wooded Land Parcel in Grass Lake

      9.93 acre wooded parcel with frontage on Burtch Rd.
      Burtch Rd, Grass Lake, MI 49240
      View Details
    • $45,000
      0.55 Acres

      Residential Lot in Grass Lake

      Residential land available in Grass Lake, Michigan.
      Vl Congressional Ln, Grass Lake, MI 49240
      View Details
    • $60,000
      1.00 Acre

      Residential Lot in Patriot Estates

      Spacious lot in Grass Lake, build your dream home!
      Vl Congressional Ln, Grass Lake, MI 49240
      View Details
    • $45,750
      0.26 Acres

      Land Lot in Grass Lake

      Residential land lot available in Grass Lake, Michigan.
      Vl Pinewood Dr, Grass Lake, MI 49240
      View Details
    • $125,000

      Industrial Land Near I-94

      Industrial land parcels totaling 3.91 acres, ready for construction.
      Morrissey Rd, Grass Lake, MI 49240
      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.
    Morrissey Rd
    Grass Lake, MI 49240
    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

    Thank You for Inquiry
    Morrissey Rd, Grass Lake, MI, 49240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!