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    5815 Commerce Rd West Bloomfield Township, MI 48324
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    5815 Commerce Rd, West Bloomfield Township, MI 48324

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    • Commercial real estate
    • 4.00 lot acres
    Off-Market
    Property ID
    US43-1794014
    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 5815 Commerce Rd

    Lot size
    4.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional four-acre commercial land parcel presents a unique investment opportunity in the highly desirable West Bloomfield Township, Michigan. Situated at the southwest corner of Commerce Road and Hiller Road, this property enjoys unparalleled visibility and accessibility. Its location adjacent to Scotch Elementary School within the vibrant "Lakes Area" offers significant advantages. West Bloomfield Township itself boasts a strong economy, ranking among the wealthiest counties in the United States based on median household income. Residents enjoy access to extensive recreational amenities, including twelve parks encompassing 600 acres of public parkland and twenty-eight lakes. The renowned West Bloomfield School District further enhances the area's appeal. The property's convenient location provides easy access to the broader Oakland County region, while remaining approximately forty minutes northwest of Detroit. This prime commercial land is ready for development, offering significant potential for a variety of commercial ventures. The 48324 zip code ensures a strong address for any business. The lot size provides ample space for substantial construction, making it an attractive proposition for developers and investors seeking a strategic location in a thriving community. This is a rare opportunity to acquire a significant parcel of land in a highly sought-after area.

    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
    West Bloomfield Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3977378
    Latitude
    42.5896418

    Comparable in this City

    • $36,999

      Vacant Land on Hiller Road

      Vacant land available on Hiller Road in West Bloomfield.
      2833 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • $59,900
      0.28 Acres

      Residential Land in West Bloomfield

      Buildable lot in West Bloomfield Twp, excellent potential!
      Hiller Rd, Bloomfield Twp, MI 48324
      View Details
    • $1,150,000
      17.01 Acres

      West Bloomfield Land Opportunity

      17.02 acres of land in West Bloomfield Township, Michigan.
      Hiller Rd West, Bloomfield Twp, MI 48324
      View Details
    • New
      $31,999
      0.29 Acres

      West Bloomfield Wooded Lot

      0.28-acre wooded lot in West Bloomfield, with utilities available.
      2833 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • $109,900
      0.14 Acres

      Cleared Lot in West Bloomfield

      Cleared lot ready for construction in West Bloomfield, Michigan.
      3965 Carrick Ave, West Bloomfield, MI 48324
      View Details
    • $1,999,000
      4.75 Acres

      Prime Land in Orchard Lake

      Nearly 5 acres of wooded land in Orchard Lake Village.
      3655 Shady Beach Blvd, West Bloomfield, MI 48324
      View Details

    Similar Nearby for Sale

    • $36,999

      Vacant Land on Hiller Road

      Vacant land available on Hiller Road in West Bloomfield.
      2833 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • $59,900
      0.28 Acres

      Residential Land in West Bloomfield

      Buildable lot in West Bloomfield Twp, excellent potential!
      Hiller Rd, Bloomfield Twp, MI 48324
      View Details
    • $1,150,000
      17.01 Acres

      West Bloomfield Land Opportunity

      17.02 acres of land in West Bloomfield Township, Michigan.
      Hiller Rd West, Bloomfield Twp, MI 48324
      View Details
    • New
      $31,999
      0.29 Acres

      West Bloomfield Wooded Lot

      0.28-acre wooded lot in West Bloomfield, with utilities available.
      2833 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • $109,900
      0.14 Acres

      Cleared Lot in West Bloomfield

      Cleared lot ready for construction in West Bloomfield, Michigan.
      3965 Carrick Ave, West Bloomfield, MI 48324
      View Details
    • $1,999,000
      4.75 Acres

      Prime Land in Orchard Lake

      Nearly 5 acres of wooded land in Orchard Lake Village.
      3655 Shady Beach Blvd, West Bloomfield, MI 48324
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in West Bloomfield Township.
      3232 Orchard Lake Rd West, Bloomfield Township, MI 48324
      View Details
    • Contact for pricing
      1,058 SF

      Freestanding Building with Retail Space

      8,500 SF building with retail and office space available.
      2065 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • Contact for pricing

      West Bloomfield Commercial Space Available

      Commercial property available for rent in West Bloomfield, Michigan.
      2065-2083 Hiller Rd West, Bloomfield, MI 48324
      View Details
    • $32 SF/Yr
      1,120 SF

      West Bloomfield Retail Space Available

      Freestanding retail space in West Bloomfield, ideal for personal services.
      7045 Cooley Lake Rd, West Bloomfield, MI 48324
      View Details
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    5815 Commerce Rd
    West Bloomfield Township, MI 48324
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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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