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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    35 Broadway St Orion Township, MI 48362

    • Commercial real estate
    • 0.08 lot acres
    For Sale
    View listing
    $399,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0021774
    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

    • Cordell's Piano Services / Piano Tuning Service

    Property Details for 35 Broadway St

    Lot size
    0.08 lot acres
    Property type
    Commercial real estate
    APN
    09-02-476-010

    Description

    This exceptional 0.08-acre commercial land parcel is situated in the heart of downtown Lake Orion, Michigan, at 35 N. Broadway St (APN 09-02-476-010). Zoned Downtown Center, this property offers significant development potential, allowing for structures up to four stories (52 feet) in height. Mixed-use development, including residential units on upper floors, is permitted under the existing zoning. The asking price is $399,000, representing a price reduction from the original listing. This highly desirable location benefits from a pedestrian-friendly environment and ample village parking, ensuring convenient access for businesses and residents. The property's strategic placement between established businesses like Fork and Pint Restaurant and Motor City Granite provides excellent visibility and proximity to thriving local establishments such as Sagebrush Cantina, Anita's Kitchen, Johnny Blacks, and Wine Social. This presents a unique opportunity for investors and developers seeking a prime location in a vibrant and growing community. The property's size and zoning regulations make it ideal for a variety of commercial ventures. Don't miss this chance to acquire a piece of Lake Orion's thriving downtown.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Orion Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2400407
    Latitude
    42.7851915

    Comparable in this City

    • Contact for pricing

      Land with Lake Orion Views

      Land offering lake views, ideal for recreation or investment.
      0000 Garden Dr, Lake Orion, MI 48362
      View Details
    • $474,900
      0.33 Acres

      Lake Orion Waterfront Vacant Land

      Lakefront vacant land on All Sports Lake Orion.
      411 Heights Rd, Lake Orion, MI 48362
      View Details
    • New
      $100,000
      0.07 Acres

      Lake Orion Vacant Land

      Vacant residential lot on All-Sports Lake Orion.
      120 Central Dr, Lake Orion, MI 48362
      View Details
    • $2,300,000
      33.24 Acres

      Orion Township Industrial Land

      33 Acres, Flexible Zoning, Prime Location
      0 Lapeer Rd, Orion Township, MI 48362
      View Details
    • $425,000

      Prime Land Near Lake Orion

      1.92 acres with frontage on Lapeer Road.
      0000 S Lapeer Rd, Lake Orion, MI 48362
      View Details
    • New
      $100,000
      0.10 Acres

      Lake Orion Vacant Land

      Vacant lot on All-Sports Lake Orion to build your dream home.
      121 Central Dr, Lake Orion, MI 48362
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land with Lake Orion Views

      Land offering lake views, ideal for recreation or investment.
      0000 Garden Dr, Lake Orion, MI 48362
      View Details
    • $474,900
      0.33 Acres

      Lake Orion Waterfront Vacant Land

      Lakefront vacant land on All Sports Lake Orion.
      411 Heights Rd, Lake Orion, MI 48362
      View Details
    • New
      $100,000
      0.07 Acres

      Lake Orion Vacant Land

      Vacant residential lot on All-Sports Lake Orion.
      120 Central Dr, Lake Orion, MI 48362
      View Details
    • $2,300,000
      33.24 Acres

      Orion Township Industrial Land

      33 Acres, Flexible Zoning, Prime Location
      0 Lapeer Rd, Orion Township, MI 48362
      View Details
    • $425,000

      Prime Land Near Lake Orion

      1.92 acres with frontage on Lapeer Road.
      0000 S Lapeer Rd, Lake Orion, MI 48362
      View Details
    • New
      $100,000
      0.10 Acres

      Lake Orion Vacant Land

      Vacant lot on All-Sports Lake Orion to build your dream home.
      121 Central Dr, Lake Orion, MI 48362
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      25,375 SF

      Lake Orion Retail Center

      High-traffic retail space available.
      600-622 Lapeer Rd, Orion charter Township, MI 48362
      View Details
    • $12 SF/Yr
      26,280 SF

      Buckhorn Plaza: Orion Township Retail

      Prime Retail Space, High Visibility, Recent Upgrades
      780-820 Lapeer Rd, Orion Township, MI 48362
      View Details
    • $6 SF/Yr
      40,016 SF

      Lake Orion Industrial Flex Space

      Modern flex warehouse space available. Multiple units, excellent location.
      118 Indianwood Rd, Orion Township, MI 48362
      View Details
    • $20 SF/Yr
      7,140 SF

      Lake Orion Retail Space Available

      7,140 SF retail space with high visibility in Lake Orion.
      600-622 S Lapeer Rd, Orion, MI 48362
      View Details
    • $550 /Mo
      3,756 SF

      Office Space in Lake Orion

      Office space for lease in downtown Lake Orion, Michigan.
      400 S Broadway St, Lake Orion, MI 48362
      View Details
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    35 Broadway St
    Orion Township, MI 48362
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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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