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    Anchor Dr New Baltimore, MI 48047

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    Anchor Dr New Baltimore, MI 48047

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    • Land

    Property Details for 0 Anchor Dr

    Property type
    Land

    Description

    This exceptional 46.5-acre parcel presents a remarkable opportunity for residential development in Chesterfield, Michigan. Located in Macomb County, near the intersection of Anchor Drive and Kingsberry Drive, this flat, wooded land boasts a prime location with convenient access to major thoroughfares. Its R-1-B zoning allows for significant development potential, estimated at 3-4 lots per acre, yielding a total of 120 to 140 lots. The property's proximity to Lake St. Clair, Selfridge Air Base, Hall Road, and I-94 provides exceptional convenience and accessibility. Existing infrastructure is a key advantage, with sewer, water, and storm services readily available on-site. This expansive tract offers a unique chance to create a thriving residential community in a highly desirable area. The asking price for this exceptional land is $3,000,000. The property's address is Anchor Dr, Chesterfield, MI 48047. The total acreage is 1,976,753 square feet. This represents a significant investment opportunity with substantial returns. The property's flat terrain and wooded setting offer a beautiful backdrop for a new residential development. The convenient location near major roadways and amenities makes this land particularly attractive to builders and developers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8232
    Latitude
    42.6403

    Comparable in this City

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      15.00 Acres

      Hobarth Rd

      Land • 15.00 Acres
      0 Hobarth Rd, New Baltimore, MI 48047
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      Jefferson Ave & Rosso Hwy

      Land
      0 Jefferson Ave & Rosso Hwy, Harrison Township, MI 48047
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      365,000.00 Acres

      27944 Cotton Rd

      Land • 365,000.00 Acres
      27944 Cotton Rd, New Baltimore, MI 48047
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    • Value Estimation by Request
      46.50 Acres

      Kingsberry St

      Land • 46.50 Acres
      0 Kingsberry St, New Baltimore, MI 48047
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    • Value Estimation by Request

      33633 23 Mile Rd

      Land
      33633 23 Mile Rd, New Baltimore, MI 48047
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    • Value Estimation by Request
      27.47 Acres

      26 Mile Rd

      Land • 27.47 Acres
      0 26 Mile Rd, New Baltimore, MI 48047
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      29430 23 Mile Rd, Chesterfield, MI 48047
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      Land For Sale

      2.07 acres of land available for purchase.
      Cricklewood Blvd, New Baltimore, MI 48047
      View Details
    • $225,000
      0.26 Acres

      Waterfront Vacant Lot Opportunity

      Quarter-acre vacant lot on the canal with direct water access.
      29050 Farwell St, New Baltimore, MI 48047
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      1 SF

      Land Near Selfridge Air Base

      Commercial land suitable for mixed-use retail and self-storage development.
      28541 William P Rosso Hwy, New Baltimore, MI 48047
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    Similar Nearby for Lease

    • Contact for pricing

      Land with Main Road Frontage

      Land available for lease with potential for various developments.
      30670 23 Mile Rd, Chesterfield, MI 48047
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    • Contact for pricing

      New Development Retail Opportunity

      New development retail, office, or medical space for lease.
      37040 Green St, New Baltimore, MI 48047
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    • $2,000 /Mo
      2,400 SF

      Chesterfield Office Space Available

      Professional office space in Chesterfield, MI, for lease.
      30845 23 Mile Rd, Chesterfield, MI 48047
      View Details
    • Contact for pricing

      Historic Building in Downtown New Baltimore

      Restored landmark building with customizable commercial space for lease.
      51005 Washington St, New Baltimore, MI 48047
      View Details
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    Anchor Dr
    New Baltimore, MI 48047
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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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