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    Property profile & analytics

    6115 Whittaker Rd Ypsilanti, MI 48197

    • Commercial real estate
    • 2.41 lot acres
    For Sale
    View listing
    $179,250
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2714804
    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

    • Commercial real estate

    Property Details for 6115 Whittaker Rd

    Lot size
    2.41 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.41-acre parcel presents a remarkable development opportunity in desirable Ypsilanti, Michigan. Located at 6115 Whittaker Rd, in Washtenaw County, zip code 48197, this privately owned land is zoned for residential use, offering significant potential for building a single-family home or multiple residential units. The property's expansive size provides ample space for a variety of development projects, catering to diverse needs and preferences. Its prime location within Ypsilanti adds to its appeal, offering convenient access to local amenities, services, and transportation networks. The asking price is $179,250. While the property is classified as both commercial and residential, the permitted zoning is strictly residential. The seller may consider financing options, subject to terms and conditions. Prospective buyers are strongly encouraged to independently verify all information provided, including zoning regulations and development possibilities, before making any purchase decisions. This rare opportunity won't last long

    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
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.6089821
    Latitude
    42.2001354

    Comparable in this City

    • $1,300,000
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      Ypsilanti Residential Land - 4 Acres

      Prime 4-acre residential lot, ideal for development.
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    • $399,995
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      Ypsilanti Land: Prime Development Site

      2.03 Acres, Multi-Use Zoning, I-94 Access
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    • $399,000
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      Ypsilanti Commercial Land Investment

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    • $375,000
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      Ypsilanti Township Development Land

      18.8 acres, Mixed-Use Potential
      1879 Michigan Ave, Ypsilanti, MI 48197
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    • $850,000
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      Ypsilanti Township Multi-Family Land

      8.24 Acres, Prime Multi-Family Development
      810 Roundtree Blvd, Ypsilanti Charter Township, MI 48197
      View Details
    • $380,000
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      Ypsilanti Multifamily Investment Opportunity

      Excellent investment property near EMU with potential for a third unit.
      308 Ballard St, Ypsilanti, MI 48197
      View Details

    Similar Nearby for Sale

    • $1,300,000
      4.00 Acres

      Ypsilanti Residential Land - 4 Acres

      Prime 4-acre residential lot, ideal for development.
      2023 Whittaker Rd, Ypsilanti, MI 48197
      View Details
    • $399,995
      2.03 Acres

      Ypsilanti Land: Prime Development Site

      2.03 Acres, Multi-Use Zoning, I-94 Access
      2180 Ellsworth Rd, Ypsilanti, MI 48197
      View Details
    • $399,000
      1.63 Acres

      Ypsilanti Commercial Land Investment

      Prime 2.2-acre lot, B3 zoning, EV charging potential.
      2010 Michigan Ave, Ypsilanti, MI 48197
      View Details
    • $375,000
      18.80 Acres

      Ypsilanti Township Development Land

      18.8 acres, Mixed-Use Potential
      1879 Michigan Ave, Ypsilanti, MI 48197
      View Details
    • $850,000
      8.24 Acres

      Ypsilanti Township Multi-Family Land

      8.24 Acres, Prime Multi-Family Development
      810 Roundtree Blvd, Ypsilanti Charter Township, MI 48197
      View Details
    • $380,000
      0.06 Acres

      Ypsilanti Multifamily Investment Opportunity

      Excellent investment property near EMU with potential for a third unit.
      308 Ballard St, Ypsilanti, MI 48197
      View Details

    Similar Nearby for Lease

    • $1,150 /Mo

      Updated Two-Bedroom Ypsilanti Unit

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      Ypsilanti Retail/Office Land

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      1 SF

      Ypsilanti Commercial Land for Lease

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    • Contact for pricing

      Prime Commercial Land Opportunity

      Ground lease opportunity near national retailers, suitable for various commercial uses.
      3575 Carpenter Rd, Ypsilanti, MI 48197
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    • $17,075 /Mo
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      Ypsilanti Restaurant w/ Drive-Thru

      Prime location, 2264 sq ft, drive-thru.
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      Ypsilanti Medical Office Building

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    Ypsilanti, MI 48197
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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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