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    For Sale (25)

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    Leland Vacant Corner Lot
    $575,000
    0.21 Acres

    Leland Vacant Corner Lot

    Premium Leland corner lot ready for building.

    12 E Juniper Trl, Leland, MI 49654
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    Kalkaska Vacant Land Near Lake
    $59,000
    2.51 Acres

    Kalkaska Vacant Land Near Lake

    Spacious 2.51-acre lot near Manistee Lake with utilities.

    5 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Leelanau County Vacant Land Parcel
    $396,000
    11.58 Acres

    Leelanau County Vacant Land Parcel

    Nearly 12-acre parcel ideal for a dream home or hobby farm.

    00 Setterbo Rd, Suttons Bay, MI 49653
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    Traverse City Office Building For Sale
    $389,900
    1.13 Acres

    Traverse City Office Building For Sale

    Commercial corner parcel with office building in Traverse City, Michigan.

    3415 Veterans Dr, Traverse City, MI 49684
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    Residential Land in Gated Community
    $79,900
    0.43 Acres

    Residential Land in Gated Community

    Land parcel in Lochenheath Development, Williamsburg, Michigan.

    4835 Prestwick Ct, Williamsburg, MI 49690
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    Kalkaska Vacant Land Near Lake
    $55,000
    2.51 Acres

    Kalkaska Vacant Land Near Lake

    Spacious 2.51-acre lot near Manistee Lake with utilities.

    6 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Manistee Ridge Estate Parcel
    $55,000
    2.47 Acres

    Manistee Ridge Estate Parcel

    Spacious 2.47-acre parcel near Manistee Lake and ORV trails.

    4 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Spacious Lot Near Manistee Lake
    $59,000
    2.47 Acres

    Spacious Lot Near Manistee Lake

    Estate-sized parcel near Manistee Lake with access to outdoor activities.

    3 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Spacious Lot Near Manistee Lake
    $50,000
    1.81 Acres

    Spacious Lot Near Manistee Lake

    Estate-sized parcel near Manistee Lake with public access.

    7 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Residential Land in Gated Community
    $135,000
    0.47 Acres

    Residential Land in Gated Community

    Land parcel in Lochenheath Development, Williamsburg, MI.

    7765 Turnberry Cir, Williamsburg, MI 49690
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    Land in Gated Lochenheath Development
    $79,900
    0.41 Acres

    Land in Gated Lochenheath Development

    Vacant land in Williamsburg's prestigious Lochenheath Development.

    4829 Prestwick Ct, Williamsburg, MI 49690
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    Former Assisted Living Facility
    $850,000
    3,995 SF

    Former Assisted Living Facility

    Large property suitable for various uses in Traverse City.

    3205 Supply Rd, Traverse City, MI 49686
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    Residential Land in Gated Community
    $79,900
    0.38 Acres

    Residential Land in Gated Community

    Vacant land in Lochenheath Development, Williamsburg, MI.

    4867 Prestwick Ct, Williamsburg, MI 49690
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    Charming Duplex in Traverse City
    $560,000
    1,770 SF

    Charming Duplex in Traverse City

    Duplex in the heart of Traverse City, ideal location.

    214 Wellington St, Traverse City, MI 49686
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    Former Assisted Living Facility
    $850,000
    3,995 SF

    Former Assisted Living Facility

    Large home suitable for various uses in Traverse City.

    3255 Mahoney Dr, Traverse City, MI 49686
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    Former Assisted Living Campus
    $1,700,000
    7,990 SF

    Former Assisted Living Campus

    Two large homes, ideal for care or rental purposes.

    3205 Supply Rd, Traverse City, MI 49686
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    Land in Gated Lochenheath Development
    $79,900
    0.42 Acres

    Land in Gated Lochenheath Development

    Vacant land in a gated golf community.

    4855 Prestwick Ct, Williamsburg, MI 49690
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    Manistee Ridge Estate Parcel
    $55,000
    2.54 Acres

    Manistee Ridge Estate Parcel

    Spacious 2.54-acre lot near Manistee Lake.

    8 NE Manistee Rdg Dr NE, Kalkaska, MI 49646
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    Wooded Lot with Bay Frontage
    $82,500
    0.62 Acres

    Wooded Lot with Bay Frontage

    Wooded lot featuring shared West Bay frontage in Suttons Bay.

    1722 S Cherry Blossom Ln, Suttons Bay, MI 49682
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    20 Acres Near Torch Lake
    $99,000
    20.00 Acres

    20 Acres Near Torch Lake

    20 acres of versatile land near Torch Lake.

    20 Acres Zimmerman Rd, Rapid City, MI 49676
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    Residential Land in Gated Community
    $79,900
    0.45 Acres

    Residential Land in Gated Community

    Vacant land in Lochenheath Development, Williamsburg, Michigan.

    4843 Prestwick Ct, Williamsburg, MI 49690
    View details
    Commercial Property Near Downtown Lake
    $330,000
    2,400 SF

    Commercial Property Near Downtown Lake

    Commercial property minutes from downtown Lake Ann with flexible space.

    6460 N Reynolds Rd, Lake Ann, MI 49650
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    Commercial Acreage on US-31
    $59,900
    1.06 Acres

    Commercial Acreage on US-31

    1.06 acre commercial lot in Grawn, Michigan.

    6274 S Us Highway 31, Grawn, MI 49637
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    Vacant Acre Parcel on US-31
    $59,900

    Vacant Acre Parcel on US-31

    1.06 acre commercial land parcel on US-31 for sale.

    6274 S Us Highway 31, Grawn, MI 49637
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    Commercial Property Near Downtown Lake Ann
    $330,000

    Commercial Property Near Downtown Lake Ann

    Well-maintained commercial building suitable for various needs, great visible location.

    6460 N Reynolds Rd, Lake Ann, MI 49650
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    For Lease (10)

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    Traverse City Warehouse with Coolers
    $2,500 / Mo
    1,000 SF

    Traverse City Warehouse with Coolers

    Food storage warehouse with coolers for lease in Traverse City.

    1610 Barlow St, Traverse City, MI 49686
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    Traverse City Warehouse Space Available
    $1,000 / Mo
    1,000 SF

    Traverse City Warehouse Space Available

    Warehouse space for lease in Traverse City, Michigan.

    1610 Barlow St, Traverse City, MI 49686
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    Traverse City Food Freezer Space
    $2,800 / Mo
    1,000 SF

    Traverse City Food Freezer Space

    Food freezer warehouse space for lease in Traverse City.

    1610 Barlow St, Traverse City, MI 49686
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    Traverse City Retail/Service Space
    $1,750 / Mo
    1,473 SF

    Traverse City Retail/Service Space

    Freestanding building suitable for retail or service business.

    836 Hastings St, Traverse City, MI 49686
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    Traverse City Commercial Space For Lease
    $895 / Mo
    843 SF

    Traverse City Commercial Space For Lease

    Unique opportunity in a cooperative environment with vibrant modern business setting.

    7738 N Long Lake Rd, Traverse City, MI 49685
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    Downtown Traverse City Office Space
    $1,250 / Mo
    850 SF

    Downtown Traverse City Office Space

    Renovated office space in downtown Traverse City for lease.

    216 E Front St, Traverse City, MI 49684
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    Traverse City Warehouse/Retail Facility
    $7,950 / Mo
    11,440 SF

    Traverse City Warehouse/Retail Facility

    11,440 SF warehouse, workshop, and office space for lease.

    1555 S M-37, Traverse City, MI 49685
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    Downtown Traverse City Office Space
    $695 / Mo
    272 SF

    Downtown Traverse City Office Space

    Renovated office space in downtown Traverse City for lease.

    216 E Front St, Traverse City, MI 49684
    View details
    Leland Office Space For Lease
    $675 / Mo
    415 SF

    Leland Office Space For Lease

    Office space for lease in Leland, Michigan.

    113 N Main St, Leland, MI 49654
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    Freestanding Retail Building in Traverse
    $1,750 / Mo

    Freestanding Retail Building in Traverse

    Freestanding brick building suitable for retail or service business.

    836 Hastings St, Traverse City, MI 49686
    View details

    Leases and Sales on Map

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    Properties for sale

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    Five Star Real Estate - Front St TC
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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
    Five Star Real Estate - Front St TC
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