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    20809 Pearl St Farmington Hills, MI 48336
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    Property profile & analytics

    20809 Pearl St, Farmington Hills, MI 48336

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    • Commercial real estate
    • 0.87 lot acres
    Off-Market
    Property ID
    US43-5033872
    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 20809 Pearl St

    Lot size
    0.87 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.87-acre commercial land parcel, located at 20809 Pearl Street in Farmington Hills, Michigan, presents a unique investment opportunity. Zoned RC-1, this site offers significant potential for multi-family development, with city approvals allowing for a building up to six stories tall. The property is conveniently situated directly across from Beaumont Hospital, providing immediate access to a large population base and ensuring high demand for residential units. Farmington Public Schools serve the area, making it an attractive location for families. The site boasts a highly desirable location within Oakland County, with easy access to major roadways and amenities. The asking price is $349,000, translating to $401,149 per acre. All necessary utilities, including city water and sewer, are readily available on-site, simplifying the development process and minimizing upfront infrastructure costs. This is a rare opportunity to acquire a prime development site in a thriving Michigan community. The property's proximity to Beaumont Hospital and its zoning potential make it an exceptional investment for developers seeking a high-return project. The 48336 zip code offers a strong residential market, further enhancing the property's value and potential for future growth.

    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
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.327041
    Latitude
    42.442843

    Comparable in this City

    • $699,900
      5.91 Acres

      Residential Land in Farmington Hills

      5.91 acres for residential development with city utilities.
      23775 Inkster Rd, Farmington Hills, MI 48336
      View Details
    • $75,000
      0.19 Acres

      Vacant Lots Ready to Build

      Two adjacent lots in Farmington Hills, ready for development.
      21318 Waldron St, Farmington Hills, MI 48336
      View Details
    • $989,900
      0.26 Acres

      Commercial Land on Grand River

      Commercial land with redevelopment potential on Grand River Avenue.
      31235 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing
      1,766 SF

      Grand River Avenue Redevelopment Opportunity

      Commercial land for redevelopment with high road frontage and exposure.
      31235 Grand River Ave, Farmington, MI 48336
      View Details
    • $75,000
      0.19 Acres

      Vacant Lots in Farmington Hills

      Two adjacent lots ready to build in Farmington Hills, MI.
      21308 Waldron St, Farmington Hills, MI 48336
      View Details
    • $559,000
      4.47 Acres

      Residential Land in Farmington Hills

      Desirable 4.5 acre residential lot in Farmington Hills, MI.
      25675 Inkster Rd, Farmington Hills, MI 48336
      View Details

    Similar Nearby for Sale

    • $699,900
      5.91 Acres

      Residential Land in Farmington Hills

      5.91 acres for residential development with city utilities.
      23775 Inkster Rd, Farmington Hills, MI 48336
      View Details
    • $75,000
      0.19 Acres

      Vacant Lots Ready to Build

      Two adjacent lots in Farmington Hills, ready for development.
      21318 Waldron St, Farmington Hills, MI 48336
      View Details
    • $989,900
      0.26 Acres

      Commercial Land on Grand River

      Commercial land with redevelopment potential on Grand River Avenue.
      31235 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing
      1,766 SF

      Grand River Avenue Redevelopment Opportunity

      Commercial land for redevelopment with high road frontage and exposure.
      31235 Grand River Ave, Farmington, MI 48336
      View Details
    • $75,000
      0.19 Acres

      Vacant Lots in Farmington Hills

      Two adjacent lots ready to build in Farmington Hills, MI.
      21308 Waldron St, Farmington Hills, MI 48336
      View Details
    • $559,000
      4.47 Acres

      Residential Land in Farmington Hills

      Desirable 4.5 acre residential lot in Farmington Hills, MI.
      25675 Inkster Rd, Farmington Hills, MI 48336
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Farmington, Michigan.
      32722 W Eight Mile Rd, Farmington, MI 48336
      View Details
    • Contact for pricing

      Renovated Office/Medical Space Available

      Office/medical suites for lease near Corewell Health Farmington Hills.
      23800 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • $1,100 /Mo

      Professional Office Space For Rent

      Three-room office space available in a well-maintained building.
      21999 Farmington Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Professional Office Building For Lease

      Professional office building available for lease in Farmington Hills.
      30630 W 12 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Retail Space on W 9 Mile

      Retail space with frontage on W 9 Mile Road.
      29505 W 9 Mile Rd, Farmington Hills, MI 48336
      View Details
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    Farmington Hills, 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.

    More about this property
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