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    10000 5 Mile Rd Northville, MI 48168
    Property profile & analytics

    10000 5 Mile Rd, Northville, MI 48168

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    • Commercial real estate
    • 10.00 lot acres
    Off-Market
    Property ID
    US43-1201395
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 10000 5 Mile Rd

    Lot size
    10.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 10-acre property, located at 10000 Five Mile Road in Salem Twp, Wayne County, Michigan (zip code 48168), presents a unique investment opportunity. Currently zoned for agricultural use, this expansive parcel offers significant potential for redevelopment. The land boasts a depth of 2,350 feet and benefits from its advantageous location west of the Brae Burn Golf Course. Five Mile Road, directly in front of the property, has recently undergone improvements and is now a paved Class "A" road, enhancing accessibility and visibility. The asking price is $995,000, translating to $99,500 per acre. Given its size, location, and zoning, this property is well-suited for a variety of commercial or agricultural ventures. The property is available for viewing by appointment only. Detailed site plans and further information are available upon request. This is a rare opportunity to acquire a substantial land parcel in a desirable location with significant upside potential. Don't miss out on this chance to secure a prime piece of Michigan real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.5667406
    Latitude
    42.3889056

    Comparable in this City

    • $2,700,000

      26.96 Acres in Salem Township

      26.96 acre property in Salem Township, Washtenaw County.
      9205 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing
      99 SF

      Industrial Land with Rail Access

      Level site suitable for distribution, manufacturing, warehousing, and office.
      9761 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Northville Commercial Pad Site Available

      1.12-acre pad site in Northville Park Place for sale.
      18803 Traditions Dr, Northville, MI 48168
      View Details
    • $498,500
      0.85 Acres

      Northville Commercial Land For Sale

      Commercially zoned 0.85-acre lot in Northville Township.
      41628 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      16455 Northville Rd, Northville, MI 48168
      View Details

    Similar Nearby for Sale

    • $2,700,000

      26.96 Acres in Salem Township

      26.96 acre property in Salem Township, Washtenaw County.
      9205 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing
      99 SF

      Industrial Land with Rail Access

      Level site suitable for distribution, manufacturing, warehousing, and office.
      9761 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Northville Commercial Pad Site Available

      1.12-acre pad site in Northville Park Place for sale.
      18803 Traditions Dr, Northville, MI 48168
      View Details
    • $498,500
      0.85 Acres

      Northville Commercial Land For Sale

      Commercially zoned 0.85-acre lot in Northville Township.
      41628 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      16455 Northville Rd, Northville, MI 48168
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      Northville Office Space Available

      Office space for rent in Northville, Michigan.
      41600 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Commercial Space For Lease/Sale

      Commercial property available for lease or sale.
      41600 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing
      1,367 SF

      Retail Space on Haggerty Road

      Retail space available for lease on Haggerty Road.
      17899 Haggerty Rd, Northville, MI 48168
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    • Contact for pricing

      Northville Retail Center For Lease

      Retail spaces available in Northville Village Center shopping center.
      6 Mile & Haggerty Rds, Northville, MI 48168
      View Details
    • Contact for pricing
      1,604 SF

      Northville Office Space For Rent

      Office space for rent near downtown Northville and I-275.
      41700-41860 6 Mile Rd, Northville, MI 48168
      View Details
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    Northville, MI 48168
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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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