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    Lewis Ave Temperance, MI 48182
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    Lewis Ave Temperance, MI 48182

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

    Current Use by Public Records

    • Land

    Property Details for 0 Lewis Ave

    Lot size
    0.99 lot acres
    Property type
    Land

    Description

    This exceptional 0.99-acre commercial land parcel presents a unique investment opportunity in Temperance, Michigan. Ideally situated on Lewis Avenue, this property boasts a highly desirable C-3 commercial zoning designation, allowing for a wide range of development possibilities. Its prime location directly across from the Michigan Secretary of State office ensures high visibility and accessibility, making it an attractive site for businesses seeking a strong presence in a busy commercial corridor. The property consists of two combined parcels, totaling nearly one acre, providing ample space for various commercial ventures. The asking price is $250,000, representing a compelling entry point into the Temperance commercial real estate market. The property's APN is 02 147 001 00. This location offers excellent exposure and convenient access for customers and employees. Serious inquiries are encouraged to explore the potential of this exceptional commercial land offering. The property is available for sale, and lease options may also be considered. Don't miss this chance to secure a prime location in a thriving community.

    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
    Temperance
    County
    Monroe
    State
    Michigan
    Longitude
    -83.5676
    Latitude
    41.7474

    Comparable in this City

    • Value Estimation by Request
      0.99 Acres

      Lewis Ave

      Land • 0.99 Acres
      0 Lewis Ave, Temperance, MI 48182
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      6.88 Acres

      9144 Lewis Ave

      COMMERCIAL (GENERAL) • 6.88 Acres
      9144 Lewis Ave, Temperance, MI 48182-9303
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      0.97 Acres

      9361 Lewis Ave

      COMMERCIAL (GENERAL) • 0.97 Acres
      9361 Lewis Ave, Temperance, MI 48182-9307
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      2.15 Acres

      Lewis Ave

      COMMERCIAL (GENERAL) • 2.15 Acres
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      1.77 Acres

      110 Smith Rd

      COMMERCIAL (GENERAL) • 1.77 Acres
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    • Value Estimation by Request
      10.60 Acres

      Stateline Rd

      COMMERCIAL (GENERAL) • 10.60 Acres
      Stateline Rd, Temperance, MI 48182
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    Similar Nearby for Sale

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      Land For Sale

      0.83 acre land available for purchase.
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      Commercial Land on Crabb Road

      4.5 acres of commercial land at Crabb and Sterns.
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      Commercial Land on Corner Lot

      4.5 acres of commercial land at Crabb and Sterns.
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      Commercial Lots Near Bedford Plaza

      Three commercial lots totaling 2.7 acres near Bedford Plaza.
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    Similar Nearby for Lease

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      Retail Space in Bedford Plaza

      Retail space available in Temperance, Michigan with high traffic.
      7200 Lewis Ave, Temperance, MI 48182
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      1,500 SF

      Retail Space in Bedford Plaza

      Retail space for lease in Temperance, Michigan's Bedford Plaza.
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      Retail Space on Lewis Avenue

      Retail spaces available in Temperance, Michigan, high-traffic location.
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    • $3,500 /Mo

      Established Bar and Restaurant Space

      Turnkey bar and restaurant with liquor license and parking.
      7511 Lewis Ave, Temperance, MI 48182
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    Temperance, MI 48182
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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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