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    815 Milford Milford Milford Charter Township, MI 48381

    • Retail properties
    • 1.71 lot acres
    For Sale
    View listing
    $700,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 815 Milford Milford

    Lot size
    1.71 lot acres
    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional 1.71-acre property, located at 815 N. Milford Road in Milford Charter Township, Oakland County, Michigan (48381), presents a unique investment opportunity. Currently zoned O-1 (Office District), it allows for a variety of uses, including residential, subject to special conditions. The site boasts 198 feet of frontage along Milford Road and all utilities are available on-site, including municipal water and sanitary sewer. Previously approved for a three-story mixed-use development (office/retail on the first floor and multi-family on the second and third floors), detailed renderings and further information are available upon request. This prime location in the Village of Milford offers significant potential for developers seeking a versatile site with existing approvals. The property's APN is 16-03-453-068. The asking price is $700,000. This is a rare opportunity to acquire a substantial parcel in a thriving Michigan community. Don't miss out on this chance to build your vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Milford Charter Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6066
    Latitude
    42.5953

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      949 Summit St

      Retail properties • 2,000 SF
      949 Summit St, Milford, MI 48381
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    • Value Estimation by Request
      5,600 SF

      510-670 Highland Ave

      Lifestyle centers • 5,600 SF
      510-670 Highland Ave, Milford Charter Township, MI 48381
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    • Value Estimation by Request
      35.00 Acres

      5185 Milford Rd

      Land • 35.00 Acres
      5185 Milford Rd, Milford, MI 48381
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    • Value Estimation by Request
      28.50 Acres

      680 Oakland Ave

      Land • 28.50 Acres
      680 Oakland Ave, Milford Charter Township, MI 48381
      View Details
    • Value Estimation by Request
      1,302 SF

      3958 Milford Rd

      ROADSIDE MARKET • 1,302 SF
      3958 Milford Rd, Milford, MI 48381-3397
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    • Value Estimation by Request
      16,325 SF

      1100 Corporate Office Dr

      Medical offices • 16,325 SF
      1100 Corporate Office Dr, Milford, MI 48381
      View Details

    Similar Nearby for Sale

    • $700,000
      1.71 Acres

      Prime Milford Road Commercial Land

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      815 Milford Milford, Milford Charter Township, MI 48381
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    • $259,000

      Land For Sale

      Land available for purchase.
      727 W Maple Rd Rd, Milford, MI 48381
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    • $3,900,000
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      Prime Milford Commercial Land

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      680 Oakland Ave, Milford Charter Township, MI 48381
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      Land For Sale

      Land available for purchase.
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    • $309,900

      Land for Sale

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      2722 Twin Oaks Dr, Milford, MI 48381
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    • $569,000

      Prime Milford Industrial Land

      8.2 Acres, Heavy Industrial Zoning
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    Similar Nearby for Lease

    • $24 SF/Yr
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      Downtown Milford Medical Office

      11,800 SF Medical Office, Ample Parking
      640 Milford Rd, Milford, MI 48381
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    • $18 SF/Yr
      16,325 SF

      Milford Medical Office Suites Available

      Modern medical office space, flexible suites.
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    • $14 SF/Yr
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      Milford Office & Medical Suites

      Versatile office and medical suites for lease in Milford, MI.
      1181 N Milford Rd, Milford, MI 48381
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    • $21 SF/Yr
      3,500 SF

      Milford Medical Office Building

      Modern medical office, fully vacant, 3,500 sq ft.
      1050 Corporate Office Dr, Milford Charter Township, MI 48381
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    815 Milford Milford
    Milford Charter Township, MI 48381
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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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