Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vl Charlotte Hwy Portland, MI 48875

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Vl Charlotte Hwy Portland, MI 48875

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

    Current Use by Public Records

    • Land

    Property Details for 0 Vl Charlotte Hwy

    Lot size
    9.32 lot acres
    Property type
    Land

    Description

    This exceptional 9.32-acre parcel in Portland, Michigan, presents a unique opportunity to build your dream home. Located on a tranquil, private drive, the property boasts stunning wooded views and an impressive 1,410 feet of frontage along the Grand River, offering both seclusion and natural beauty. The land is conveniently located in Ionia County, with the address listed as VL Charlotte Hwy, Portland, MI 48875. For those seeking modern conveniences, fiber optic cable is already installed, ensuring high-speed internet access. Natural gas is also readily available. Furthermore, preliminary groundwork has already been completed, including a flood plain survey and a perk test, confirming suitability for a conventional septic system. This eliminates significant upfront hurdles, allowing you to focus on designing and building your ideal residence. The property's serene setting, combined with its readily available utilities and completed site assessments, makes it an exceptional opportunity for those seeking a private, yet accessible, building site. This is a rare chance to own a substantial piece of land with river frontage in a desirable Michigan location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Ionia
    State
    Michigan
    Longitude
    -84.8955
    Latitude
    42.8132

    Comparable in this City

    • Value Estimation by Request
      0.00 Acres

      123 Kent St

      VACANT COMMERCIAL LAND • 0.00 Acres
      123 Kent St, Portland, MI 48875-1456
      View Details
    • Value Estimation by Request
      13.60 Acres

      Lyons Rd

      INDUSTRIAL - VACANT LAND • 13.60 Acres
      Lyons Rd, Portland, MI 48875
      View Details
    • Value Estimation by Request
      9.39 Acres

      Lyons Rd

      VACANT COMMERCIAL LAND • 9.39 Acres
      Lyons Rd, Portland, MI 48875
      View Details
    • Value Estimation by Request
      11.21 Acres

      Peake Rd

      INDUSTRIAL - VACANT LAND • 11.21 Acres
      Peake Rd, Portland, MI 48875
      View Details
    • Value Estimation by Request
      1.99 Acres

      8188 State Rd

      VACANT COMMERCIAL LAND • 1.99 Acres
      8188 State Rd, Portland, MI 48875-8756
      View Details
    • Value Estimation by Request
      33.94 Acres

      Sec 13th Sebewa Twp

      VACANT COMMERCIAL LAND • 33.94 Acres
      Sec 13th Sebewa Twp, Portland, MI 48875
      View Details

    Similar Nearby for Sale

    • $59,900
      0.29 Acres

      Corner Lot in C-2 District

      Corner lot suitable for office or retail in Portland, MI.
      507 E Grand River Ave, Portland, MI 48875
      View Details
    • Contact for pricing

      50.74-Acre Development Site in Portland

      Premier commercial mixed-use development site with excellent regional connectivity.
      1800 E Grand River Ave, Portland, MI 48875
      View Details
    • Contact for pricing
      3.00 Acres

      Land in Portland, Michigan

      3-acre land perfect for recreation, hunting, fishing, nature watching.
      Island St, Portland, MI 48875
      View Details
    • $56,500
      1.60 Acres

      Residential Land in Portland, MI

      1.6 acre residential lot with no association fees.
      Mountainmint Cir, Portland, MI 48875
      View Details
    • $200,000

      Commercial Land on Grand River Avenue

      Development-ready commercial land with high visibility and frontage.
      1131 East Grand River Ave, Portland, MI 48875
      View Details
    • Contact for pricing

      Downtown Portland Retail Investment Opportunity

      Profitable restaurant property with lease in place until 2027.
      117 East Grand River Ave, Portland, MI 48875
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space at Lighted Intersection

      Retail space with excellent visibility near major retailers.
      1328 E Grand River Ave, Portland, MI 48875
      View Details
    • $10 SF/Yr
      11,215 SF

      Retail Building with Drive-Up Window

      Retail building with easy access, drive-up, and loading door.
      1339 E Grand River Ave, Portland, MI 48875
      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.
    Vl Charlotte Hwy
    Portland, MI 48875
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!