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    For Sale (32)

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    Commercially Zoned Land on M115
    $75,000
    1.07 Acres

    Commercially Zoned Land on M115

    Commercially zoned land with frontage and high visibility on M115.

    3 Industrial Dr, Mesick, MI 49668
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    Commercially Zoned Land on M115
    $99,900
    2.53 Acres

    Commercially Zoned Land on M115

    High-visibility commercial land with frontage on Michigan Road M115.

    2 Industrial Dr, Mesick, MI 49668
    View details
    Commercially Zoned Land on M115
    $75,000
    1.07 Acres

    Commercially Zoned Land on M115

    Commercially zoned land with high visibility and utilities available.

    03 Industrial Dr, Mesick, MI 49668
    View details
    Commercially Zoned Land on M115
    $99,900
    2.53 Acres

    Commercially Zoned Land on M115

    Commercially zoned land with high visibility and utilities available.

    02 Industrial Dr, Mesick, MI 49668
    View details
    Lake City Multifamily Investment Opportunity
    $420,000
    4,880 SF

    Lake City Multifamily Investment Opportunity

    Turnkey 8-unit multifamily property with expansion potential in Lake City, MI.

    1341 S Lakeshore Dr, Lake City, MI 49651
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    Tustin, MI Vacant Land
    $30,000
    3.69 Acres

    Tustin, MI Vacant Land

    Nearly 4-acre wooded parcel near trails, lakes, and streams.

    22 22 Mile Rd, Tustin, MI 49688
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    Spacious 50-Acre Outdoor Retreat
    $225,000
    50.00 Acres

    Spacious 50-Acre Outdoor Retreat

    50 acres in Manton, MI, borders state land.

    00 Arnold Rd, Manton, MI 49663
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    Self-Storage and Office Investment Opportunity
    $1,590,000
    23,725 SF

    Self-Storage and Office Investment Opportunity

    Self-storage and office complex with long-term tenants in Cadillac, MI.

    1337 N Mitchell St, Cadillac, MI 49601
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    Prime Downtown Cadillac Retail Investment
    $370,000
    8,385 SF

    Prime Downtown Cadillac Retail Investment

    Fully leased retail building in Cadillac's thriving downtown corridor.

    219 N Mitchell St, Cadillac, MI 49601
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    Wooded Acreage in Northern Michigan
    Contact for pricing
    2.02 Acres

    Wooded Acreage in Northern Michigan

    Wooded 2.02 acre lot offers endless possibilities!

    B3 Bosscher Rd, Manton, MI 49663
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    Wooded Acreage in Northern Michigan
    Contact for pricing
    2.01 Acres

    Wooded Acreage in Northern Michigan

    Wooded 2.01 acre lot near Manton and Lake City.

    B2 Bosscher Rd, Manton, MI 49663
    View details
    Manistee Commercial Land Opportunity
    $295,000
    5.61 Acres

    Manistee Commercial Land Opportunity

    5.6 acre commercial land parcel on US 31.

    2051 E Parkdale Ave, Manistee, MI 49660
    View details
    Iconic General Store with Renovated Apartment
    $350,000
    3,300 SF

    Iconic General Store with Renovated Apartment

    Established convenience store and restaurant with a renovated 4-bedroom apartment.

    2020 E 24 Rd, Cadillac, MI 49601
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    Completely Reimagined Duplex in Manton
    $349,900
    2,600 SF

    Completely Reimagined Duplex in Manton

    Updated duplex with flexible living options and income potential.

    701 W Main St, Manton, MI 49663
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    Golf Course Lot Opportunity
    Contact for pricing
    0.69 Acres

    Golf Course Lot Opportunity

    Vacant lot near The Patriot Golf Course in Grayling, MI.

    7 Fairway Ct, Grayling, MI 49738
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    Golf Course Lot in Grayling
    Contact for pricing
    1.26 Acres

    Golf Course Lot in Grayling

    1.26 acre lot on The Patriot Golf Course.

    6 Fairway Ct, Grayling, MI 49738
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    80 Acres Recreational Land Near Cadillac
    $325,000
    80.00 Acres

    80 Acres Recreational Land Near Cadillac

    Prime Northern Michigan recreational land with state land access.

    80 Vl Mackinaw Trl, Cadillac, MI 49601
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    Buildable Lot in Lake City
    $39,900
    0.12 Acres

    Buildable Lot in Lake City

    Rare opportunity to build in a vibrant lakeside community.

    210 N Canal St, Lake City, MI 49651
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    Lake Missaukee Waterfront Mixed-Use Property
    $429,000
    3,331 SF

    Lake Missaukee Waterfront Mixed-Use Property

    Mixed-use property with immediate income potential and long-term lifestyle value.

    218 S Main St, Lake City, MI 49651
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    Established Restaurant Business Opportunity
    $289,900
    1,400 SF

    Established Restaurant Business Opportunity

    Operating restaurant for sale with real estate, equipment, and inventory.

    137 N Front St, Lake City, MI 49651
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    Vacant Land in Downtown Lake City
    $69,599
    0.23 Acres

    Vacant Land in Downtown Lake City

    Cleared double lot near shops, cafes, and Lake Missaukee.

    222 N Main St, Lake City, MI 49651
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    Retail Building in High-Traffic Area
    $275,000
    10,000 SF

    Retail Building in High-Traffic Area

    10,000 sq ft retail building with long-term leases.

    1968 S Morey Rd, Lake City, MI 49651
    View details
    Secluded Peninsula with River Frontage
    $49,900
    0.85 Acres

    Secluded Peninsula with River Frontage

    Untouched land with private river frontage in Missaukee County.

    Vl Elm St, Merritt, MI 49667
    View details
    20 Acres of Vacant Land
    $139,900
    20.00 Acres

    20 Acres of Vacant Land

    20 acre parcel with pines and hardwoods, abundant wildlife.

    Forward Vl, Lake City, MI 49651
    View details
    Bramblewood Estates Vacant Land Opportunity
    $35,000
    6.22 Acres

    Bramblewood Estates Vacant Land Opportunity

    6.22 acre wooded lot in Bramblewood Estates.

    47 Bramblewood Dr, Cadillac, MI 49601
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    Commercially Zoned Property on M115
    Contact for pricing

    Commercially Zoned Property on M115

    Commercial land with frontage and high visibility on Michigan Road.

    3 Industrial Unit Parcel -, Mesick, MI 49668
    View details
    Commercially Zoned Property on M115
    Contact for pricing

    Commercially Zoned Property on M115

    Commercial land with frontage and high visibility on Michigan Road.

    2 Industrial Dr, Mesick, MI 49668
    View details
    Commercially Zoned Property on M115
    Contact for pricing

    Commercially Zoned Property on M115

    High-visibility commercial land with frontage on Michigan Road M115.

    3 Industrial Dr, Mesick, MI 49668
    View details
    Cadillac Industrial Property - 5 Acres
    $499,000
    10,833 SF

    Cadillac Industrial Property - 5 Acres

    Versatile 10,833 sq ft industrial space, ideal for redevelopment.

    1800 M-55, Cadillac, MI 49601
    View details
    Commercially Zoned Property on M115
    Contact for pricing

    Commercially Zoned Property on M115

    Commercially zoned land with frontage on Michigan Road M115.

    2 Industrial Unit Parcel -, Mesick, MI 49668
    View details
    Prime Vacant Land on US 31
    $295,000

    Prime Vacant Land on US 31

    5.6 acre commercial parcel on US 31 in Manistee.

    2051 E Parkdale Ave, Manistee, MI 49660
    View details
    Reimagined Duplex with Flexible Layout
    $349,900

    Reimagined Duplex with Flexible Layout

    Completely updated duplex, ideal for owner-occupants or multi-generational living.

    701 W Main St, Manton, MI 49663
    View details

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    City2Shore Real Estate Northern Michigan
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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
    City2Shore Real Estate Northern Michigan
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