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    8298 Channel Dr Harsens Island, MI 48028-9522

    • Commercial real estate
    • 600 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2022
    $300,000
    Value Estimations
    $325,000
    Cap Rate Potential
    2.3%
    Commercial real estate
    Location Intelligence
    Property ID
    US43-4589438
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 8298 Channel Dr

    Year built
    1920
    Lot size
    0.11 lot acres
    Property size
    600 SF
    Zone code
    C-3
    Property type
    Commercial real estate
    APN
    74-14-847-0169-000
    APU
    74148470169000

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harsens Island
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.6429
    Latitude
    42.5577
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,430
    $0.00
    $0.00
    $28,400
    -
    $0.00
    $0.00
    $56,800

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      7116 Mcdonald St

      COMMERCIAL (GENERAL) • 0.14 Acres
      7116 Mcdonald St, Harsens Island, MI 48028-9739
      View Details
    • Value Estimation by Request
      51,013 SF

      9900 Channel Dr

      COMMERCIAL (GENERAL) • 51,013 SF
      9900 Channel Dr, Harsens Island, MI 48028-9758
      View Details
    • Value Estimation by Request
      0.10 Acres

      7650 Channel Dr

      COMMERCIAL (GENERAL) • 0.10 Acres
      7650 Channel Dr, Harsens Island, MI 48028-9764
      View Details
    • Value Estimation by Request
      0.94 Acres

      7116 Mcdonald St

      COMMERCIAL (GENERAL) • 0.94 Acres
      7116 Mcdonald St, Harsens Island, MI 48028-9739
      View Details
    • Value Estimation
      $235,000
      4,710 SF

      3060 Channel Dr

      COMMERCIAL (GENERAL) • 4,710 SF
      3060 Channel Dr, Harsens Island, MI 48028-7706
      View Details
    • Value Estimation by Request
      1.74 Acres

      7650 Channel Dr

      COMMERCIAL (GENERAL) • 1.74 Acres
      7650 Channel Dr, Harsens Island, MI 48028-9764
      View Details

    Similar Nearby for Sale

    • $350,000

      South Channel Waterfront Land

      Waterfront land with steel seawall and lake views.
      9450 S Channel, Clay Twp, MI 48028
      View Details
    • $149,900

      Waterfront Land on Shipping Channel

      Unique waterfront land for fishing, boating, and kayaking.
      S Channel Dr, Harsens Island, MI 48028
      View Details
    • $35,000
      0.61 Acres

      Harsens Island Vacant Land

      Vacant lot on Harsens Island, backs to canal.
      2039 Golf Course Rd, Harsens Island, MI 48028
      View Details
    • $235,000
      0.01 Acres

      Harsens Island Vacant Land Parcels

      21 never listed residential lots with freighter views on Harsens Island.
      21 Lots South Channel, Harsens Island, MI 48028
      View Details
    • $70,000
      0.49 Acres

      Residential Land on Harsens Island

      Residential land lots available on Harsens Island, Michigan.
      407-425 North Channel Dr, Harsens Island, MI 48028
      View Details
    • $149,000
      15.00 Acres

      Harsens Island Vacant Land

      15 acres of vacant land on Harsens Island.
      Harsens Island, MI 48028
      View Details
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    8298 Channel Dr
    Harsens Island, MI 48028-9522
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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.

    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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