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    20805 Pearl St Farmington, MI 48336
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    20805 Pearl St, Farmington, MI 48336

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

    Current Use by Public Records

    • Land

    Property Details for 20805 Pearl St

    Lot size
    0.87 lot acres
    Property type
    Land

    Description

    This exceptional 0.87-acre parcel presents a remarkable opportunity for multifamily development in the affluent Farmington Hills area of Oakland County, Michigan. Zoned for residential use, this fee-simple property offers the potential to construct up to 20 residential units, catering to the high demand for housing in this desirable location. The site is conveniently situated off West 8 Mile Road, a major thoroughfare boasting over 20,000 vehicles per day, ensuring excellent visibility and accessibility. The address is 20805 Pearl St, Farmington Hills, MI 48336. This prime location within Oakland County provides access to a thriving community with established amenities and a strong rental market. The asking price for this exceptional development opportunity is $360,000. Given the land's size and zoning, along with the area's high demand for housing, this represents a compelling investment prospect for experienced developers seeking to capitalize on the robust real estate market in this affluent Michigan community. The property's strategic location and significant development potential make it an ideal choice for those seeking a high-return investment in a desirable and established market. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3469
    Latitude
    42.4658

    Comparable in this City

    • Value Estimation by Request
      0.87 Acres

      20809 Pearl St

      Land
      20809 Pearl St, Farmington Hills, MI 48336
      View Details
    • Value Estimation by Request
      3,253 SF

      31130 10th Mile Rd

      BOARDING/ROOMING HOUSE
      31130 10th Mile Rd, Farmington Hills, MI 48336-2612
      View Details
    • Value Estimation by Request
      1,740 SF

      21395 Inkster Rd

      BOARDING/ROOMING HOUSE
      21395 Inkster Rd, Farmington Hills, MI 48336-6231
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    • Value Estimation by Request
      0.24 Acres

      22473 Cora Ave

      VACANT COMMERCIAL LAND
      22473 Cora Ave, Farmington Hills, MI 48336-4311
      View Details
    • Value Estimation by Request
      0.04 Acres

      Grand Riv

      VACANT COMMERCIAL LAND
      Grand Riv, Farmington, MI 48336
      View Details
    • Value Estimation by Request
      0.08 Acres

      Grand Riv

      VACANT COMMERCIAL LAND
      Grand Riv, Farmington, MI 48336
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      31200 Grand River Ave, Farmington, MI 48336
      View Details
    • $400,000

      Farmington Multifamily Property for Sale

      Multifamily property available in Farmington, Michigan.
      31715 West 9 Mile Rd, Farmington, MI 48336
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    • $760,000
      Pending

      Farmington Hills Multi-Family Investment

      Fully occupied 6-unit apartment building in Farmington Hills, Michigan.
      21304 Ontaga St, Farmington Hills, MI 48336
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    • $760,000
      Pending

      Farmington Hills 6-Unit Apartment Building

      Fully occupied 6-unit apartment building in Farmington Hills with investment potential.
      21304 Ontaga St, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      9,388 SF

      Mixed-Use Building with Commercial Space

      Mixed-use building with apartments and commercial space for sale.
      29222 Grand River Ave, Farmington Hills, MI 48336
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    Similar Nearby for Lease

    • $15 SF/Yr
      1 SF

      Farmington Hills Retail Space Available

      1,200 SF Retail Space in Prime Location
      29505 9 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Industrial Building at Orchard Lake

      Multi-tenant industrial building with warehouse and office space for rent.
      20768 Orchard Lake Rd, Farmington Hills, MI 48336
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      Turnkey Restaurant Space in Downtown Farmington

      Fully equipped restaurant with high-end finishes and excellent visibility.
      32821 Grand River Ave, Farmington, MI 48336
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      Versatile Farmington Hills Medical/Office Space

      12,000 SF office/medical space, easily divisible, high-traffic location.
      28511 Orchard Lake Rd, Farmington Hills, MI 48336
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    Farmington, MI 48336
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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.

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