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    29150 12 Mile Rd Farmington Hills, MI 48334
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    29150 12 Mile Rd Farmington Hills, MI 48334

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    • Land
    For Sale
    $649,000
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    4.55 Acres on W 12 For Sale
    $649,000
    4.55 Acres

    4.55 Acres on W 12

    Land for sale on W 12 Mile Road.

    29150 12 Mile Rd, Farmington Hills, MI 48334
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    Property ID
    US43-0282948
    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

    • Land

    Property Details for 29150 12 Mile Rd

    Property type
    Land

    Description

    4.55 Acres for Sale on W 12 Mile Road in Farmington Hills.

    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
    -83.3333
    Latitude
    42.500847

    Comparable in this City

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      Farmington Hills Land For Sale

      Land available for sale in Farmington Hills, Michigan.
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      Spacious Double Lot by Pond

      Double lot near Farmington Hills with pond frontage.
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      Land for Development Opportunity

      0.40-acre land near stores, shopping, and freeways.
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      Residential Land in Farmington Hills

      Secluded 10+ acre residential parcel in Farmington Hills.
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      Vacant Land in Farmington Hills

      Vacant property in Farmington Hills, Michigan, ready for development.
      30326 Pipers Lane Ct, Farmington Hills, MI 48334
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    Similar Nearby for Sale

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      Land For Sale

      Land available for sale.
      Pershing St, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      Farmington Hills Land For Sale

      Land available for sale in Farmington Hills, Michigan.
      31500 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $150,000

      Land for Development Opportunity

      0.40-acre land near stores, shopping, and freeways.
      0000 Runnymede St, Farmington, MI 48334
      View Details
    • $100,000
      3.82 Acres

      Spacious Double Lot by Pond

      Double lot near Farmington Hills with pond frontage.
      28181 Rollcrest Rd, Farmington Hills, MI 48334
      View Details
    • $1,925,000
      10.69 Acres

      Residential Land in Farmington Hills

      Secluded 10+ acre residential parcel in Farmington Hills.
      32500 Rockridge Ln, Farmington, MI 48334
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    • $120,000
      0.29 Acres

      Vacant Land in Farmington Hills

      Vacant property in Farmington Hills, Michigan, ready for development.
      30326 Pipers Lane Ct, Farmington Hills, MI 48334
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    Similar Nearby for Lease

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      Retail Site Near Hunter's Square

      Retail site adjacent to power center and Hunter's Square.
      31006 Orchard Lake Rd, Farmington Hills, MI 48334
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    • $8,325 /Mo
      10,727 SF

      Professional Medical Office Suites Available

      Medical office suites for lease in Farmington Hills, Michigan.
      28124 Orchard Lake Rd, Farmington Hills, MI 48334
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      Retail Space in Orchard 12 Plaza

      Retail space available in a busy Farmington Hills plaza.
      27909 Orchard Lake Rd, Farmington Hills, MI 48334
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      Office Space Available For Lease

      Office space for lease at 28521 Orchard Lake Rd.
      28521 Orchard Lake Rd, Farmington Hills, MI 48334
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    View Listing
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    Farmington Hills, MI 48334
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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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    29150 12 Mile Rd, Farmington Hills, MI, 48334
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