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    7956 Grand St Dexter, MI 48130
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    7956 Grand St Dexter, MI 48130

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    • Residential land & home lots
    Off-Market
    Property ID
    US43-0439142
    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

    • Residential land & home lots

    Property Details for 7956 Grand St

    Property type
    Residential land & home lots

    Description

    Millennium Place Condominiums is a site condominium for 34 residential units in the City of Dexter. Seller will consider owner financing to an experienced, qualified buyer. There is on site parking and is walking distance to downtown, schools, shopping, parks, and the Border 2 Border trail. The building is three stories consisting of: First Floor - 3 units - 2 story with 2 bedroom/2.5 bath Second Floor - 9 units - five 2 bedroom/2 bath, two 1 bedroom/1 bath, two 2 bedroom/1bath Third Floor - 11 units - seven 2 bedroom/2 bath, two 1 bedroom/1 bath, two 2 bedroom/1 bath Fourth Floor - 11 units - seven 2 bedroom/2 bath, two 1 bedroom/1 bath, two 2 bedroom/1 bath Forty-six (46) on-site parking spaces plus street parking.

    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
    Dexter
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.8884142
    Latitude
    42.3349477

    Comparable in this City

    • $1,500,000
      1.20 Acres

      Riverfront Land in Dexter, Michigan

      Land with modern home to be built near downtown Dexter.
      7525 Huron River Dr, Dexter, MI 48130
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    • $999,000
      18.53 Acres

      Dexter, MI Commercial Land

      18.53 acre commercial land parcel in Dexter, Michigan.
      4300 Mast Rd, Dexter, MI 48130
      View Details
    • $125,000
      2.17 Acres

      Land with Preserved Legacy Views

      2.17-acre land with views of Legacy Farm in Dexter, MI.
      6336 Mast Rd, Dexter, MI 48130
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    • $129,900

      Residential Land in Walsh Farms

      2.20 acre residential land near Dexter, Chelsea, and Ann Arbor.
      8045 Trail Rdg, Dexter, MI 48130
      View Details
    • $950,000
      5.33 Acres

      Huron River Frontage Land

      Premier estate site with Huron River access near Ann Arbor.
      6854 Morrison Hl Ct, Dexter, MI 48130
      View Details
    • $320,000
      10.01 Acres

      10-Acre Vacant Land Parcel

      Prime Dexter land for custom home with recreation nearby.
      Arnold Dr, Dexter, MI 48130
      View Details

    Similar Nearby for Sale

    • $1,500,000
      1.20 Acres

      Riverfront Land in Dexter, Michigan

      Land with modern home to be built near downtown Dexter.
      7525 Huron River Dr, Dexter, MI 48130
      View Details
    • $999,000
      18.53 Acres

      Dexter, MI Commercial Land

      18.53 acre commercial land parcel in Dexter, Michigan.
      4300 Mast Rd, Dexter, MI 48130
      View Details
    • $125,000
      2.17 Acres

      Land with Preserved Legacy Views

      2.17-acre land with views of Legacy Farm in Dexter, MI.
      6336 Mast Rd, Dexter, MI 48130
      View Details
    • $129,900

      Residential Land in Walsh Farms

      2.20 acre residential land near Dexter, Chelsea, and Ann Arbor.
      8045 Trail Rdg, Dexter, MI 48130
      View Details
    • $950,000
      5.33 Acres

      Huron River Frontage Land

      Premier estate site with Huron River access near Ann Arbor.
      6854 Morrison Hl Ct, Dexter, MI 48130
      View Details
    • $320,000
      10.01 Acres

      10-Acre Vacant Land Parcel

      Prime Dexter land for custom home with recreation nearby.
      Arnold Dr, Dexter, MI 48130
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      1.94 Acre Outlot For Lease

      1.94 acre commercial outlot available for lease.
      Dexter Ann Arbor Rd & Carrington Dr, Dexter, MI 48130
      View Details
    • Contact for pricing

      Standalone Industrial Building Sublease Available

      Industrial building for sublease with yard and heavy power.
      800 Baker Rd, Dexter, MI 48130
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Dexter, Michigan.
      7001 Dexter Ann Arbor Rd, Dexter, MI 48130
      View Details
    • Contact for pricing

      Adaptable Flex Space in Dexter

      9,588 SF single-story building suitable for various uses.
      2434 Bishop Cir E, Dexter, MI 48130
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    • Contact for pricing

      Downtown Dexter Office/Service Suite

      Furnished office suite in downtown Dexter, available for rent.
      7971 Ann Arbor St, Dexter, MI 48130
      View Details
    • Contact for pricing

      Updated Office and Warehouse Space

      14,000 SF freestanding building with updated office and warehouse space.
      1100 Baker Rd, Dexter, MI 48130
      View Details
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    7956 Grand St
    Dexter, MI 48130
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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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