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    For Sale (46)

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    Prime Commercial Corner Lot
    $50,000
    0.30 Acres

    Prime Commercial Corner Lot

    High-traffic vacant land in downtown Manistique, zoned for general business.

    N Deer St, Manistique, MI 49854
    View details
    Newberry Industrial Park Trucking Facility
    $595,000
    7,920 SF

    Newberry Industrial Park Trucking Facility

    7920 sq ft commercial/industrial garage on 7.9 acres.

    6937 Cty Rd 392, Newberry, MI 49868
    View details
    Engadine Turn-Key Restaurant Opportunity
    $289,000
    2,824 SF

    Engadine Turn-Key Restaurant Opportunity

    Restaurant/Bar-Grill opportunity in the heart of the Upper Peninsula!

    14009 Melville St, Engadine, MI 49824
    View details
    Lakefront Cabins Investment Opportunity
    $1,500,000
    5,550 SF

    Lakefront Cabins Investment Opportunity

    Turnkey lakefront portfolio with development rights on Big Manistique Lake.

    16930 W Manilak Dr, McMillan, MI 49853
    View details
    Lakefront Cabins Portfolio - McMillan, MI
    $1,750,000
    15.00 Acres

    Lakefront Cabins Portfolio - McMillan, MI

    Turnkey lakefront portfolio with expansion potential on Big Manistique Lake.

    W16930 Manilak Dr, McMillan, MI 49853
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    Manistique Vacant Land Opportunity
    Contact for pricing
    0.45 Acres

    Manistique Vacant Land Opportunity

    Three city lots, wooded, utilities available, ready for development.

    9 N 4Th St, Manistique, MI 49854
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    Residential Land Near Indian Lake
    $32,500
    1.17 Acres

    Residential Land Near Indian Lake

    Over an acre near Indian Lake, ideal for building.

    Tbd Cord 440, Manistique, MI 49854
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    Highway Frontage Commercial Land Opportunity
    $599,000
    103.01 Acres

    Highway Frontage Commercial Land Opportunity

    Over 100 acres with highway access and business-ready amenities.

    1622 W Us Highway 2, Gulliver, MI 49840
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    Waterfront Land on Garden Peninsula
    $245,000
    3.50 Acres

    Waterfront Land on Garden Peninsula

    3.5 acre waterfront parcel with 200 feet of sandy shoreline.

    Tbd Ii, Garden, MI 49835
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    Tamarack Lake Waterfront Land Parcel
    $99,000
    1.69 Acres

    Tamarack Lake Waterfront Land Parcel

    1.69 acre waterfront parcel on Tamarack Lake, Watersmeet, MI.

    Tamarack Lake Rd, Watersmeet, MI 49969
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    Land Parcel Near Fire Lake
    $42,500
    6.23 Acres

    Land Parcel Near Fire Lake

    6+ acre parcel near Fire Lake and state land.

    Bates-Amasa, Crystal Falls, MI 49920
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    Milakokia Lake Waterfront Land Opportunity
    $175,000
    16.00 Acres

    Milakokia Lake Waterfront Land Opportunity

    16 acres with 546' frontage on Milakokia Lake.

    5965 E Milakokia Lake Rd, Gould City, MI 49838
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    Spacious Wooded Lot in Gladstone
    Contact for pricing
    1.08 Acres

    Spacious Wooded Lot in Gladstone

    One-acre wooded lot in Royal Oak Subdivision, Gladstone, MI.

    39 Royalton Dr, Gladstone, MI 49837
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    Waterfront Land on Milakokia Lake
    $84,900
    2.65 Acres

    Waterfront Land on Milakokia Lake

    2.65 acres with 500+ feet of lake frontage.

    N Milakokia Lake Rd, Gould City, MI 49838
    View details
    Vacant Land in Hiawatha Shores
    Contact for pricing
    0.15 Acres

    Vacant Land in Hiawatha Shores

    Vacant lot with shared access to private beach area.

    27 1St St, Manistique, MI 49854
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    Gould City Vacant Land Parcel
    $39,900
    11.87 Acres

    Gould City Vacant Land Parcel

    11.87-acre parcel with lake views and hunting potential.

    Champ Elysees, Gould City, MI 49838
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    Lake Michigan Waterfront Land Parcel
    $125,000
    1.08 Acres

    Lake Michigan Waterfront Land Parcel

    1.08 acres of Lake Michigan waterfront property with south-facing views.

    W Barque Point Trl, Manistique, MI 49854
    View details
    Gulliver Land Parcel on US2
    $35,000
    10.88 Acres

    Gulliver Land Parcel on US2

    10.88 acre parcel on US Highway 2 in Gulliver, MI.

    Us Highway 2, Gulliver, MI 49840
    View details
    Versatile Commercial Building in Garden, MI
    $164,900
    1,800 SF

    Versatile Commercial Building in Garden, MI

    Adaptable commercial space suitable for office, restaurant, or retail.

    6364 State St, Garden, MI 49835
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    Store in Rexton Business Opportunity
    $139,900
    2,271 SF

    Store in Rexton Business Opportunity

    Store serving community, campers, ORV riders, and snowmobilers.

    W7706 Hiawatha Trl, Naubinway, MI 49762
    View details
    Untouched Acreage Near Lake Michigan
    $40,000
    39.50 Acres

    Untouched Acreage Near Lake Michigan

    Secluded 39.5-acre land tract near Lake Michigan in Gulliver, MI.

    39 Acres Tbd Rd, Gulliver, MI 49836
    View details
    Waterfront Commercial Property in Manistique
    $300,000
    1,000 SF

    Waterfront Commercial Property in Manistique

    High-exposure waterfront commercial property in a charming lakefront town.

    103 W Lake Shore, Manistique, MI 49854
    View details
    Waterfront Land on Smith Lake
    $75,000
    1.60 Acres

    Waterfront Land on Smith Lake

    1.6 acre waterfront parcel with 100 feet of frontage.

    000 W Smith Lake Rd, Manistique, MI 49854
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    Gulliver Land with Cedar Lake
    $75,000
    10.00 Acres

    Gulliver Land with Cedar Lake

    10 acres near Manistique with frontage on Cedar Lake.

    Us Highway 2, Gulliver, MI 49840
    View details
    Milakokia Lake Waterfront Land
    $39,900
    0.77 Acres

    Milakokia Lake Waterfront Land

    0.77 acre vacant land with 99.9 ft waterfront.

    Tbd Champs Elysees, Gould City, MI 49838
    View details
    40 Acres of Hardwood Land
    $65,000
    40.00 Acres

    40 Acres of Hardwood Land

    40 acres of wooded land near Mackinac Bridge.

    Camp 23 Rd, Germfask, MI 49836
    View details
    Scenic Waterfront Land in Manistique
    $75,000
    1.49 Acres

    Scenic Waterfront Land in Manistique

    1.49 acre parcel with 400+ feet of lake frontage.

    W Smith Lake Rd, Manistique, MI 49854
    View details
    Waterfront Land in Gould City
    $39,900
    0.77 Acres

    Waterfront Land in Gould City

    0.77 acre waterfront property on Milakokia Lake for sale.

    Tbd Champs Elysees Rd, Gould City, MI 49838
    View details
    Manistique Commercial/Industrial Opportunity
    $250,000
    2,500 SF

    Manistique Commercial/Industrial Opportunity

    Prime corner lot with high visibility and business potential.

    192 River St, Manistique, MI 49854
    View details
    2.1 Acres in Lake Superior Forest
    $34,000
    2.10 Acres

    2.1 Acres in Lake Superior Forest

    2.1 acre parcel near Lily and Boot Lakes.

    11042 W Lilly Lk, Manistique, MI 49854
    View details
    Vacant Land Near State Land
    Contact for pricing
    0.22 Acres

    Vacant Land Near State Land

    Small lot near state land with recreational opportunities and utilities.

    W Lilly Lk, Manistique, MI 49854
    View details
    Manistique Vacant Land Near Lakes
    Contact for pricing
    0.50 Acres

    Manistique Vacant Land Near Lakes

    0.5-acre recreational land near Boot and Lily Lakes.

    M-94 N State Hwy, Manistique, MI 49854
    View details
    Wooded Lot Near Indian Lake
    Contact for pricing
    0.12 Acres

    Wooded Lot Near Indian Lake

    Vacant land near Indian Lake, suitable for building or camping.

    Tbd Co Rd 441, Manistique, MI 49854
    View details
    Gulliver Land Parcel on US-2
    $45,000
    10.11 Acres

    Gulliver Land Parcel on US-2

    10.11 acre parcel with highway access and flexible zoning.

    Us Highway 2, Gulliver, MI 49840
    View details
    Gulliver Vacant Land For Sale
    $69,000
    19.62 Acres

    Gulliver Vacant Land For Sale

    19+ acres of land near Manistique, great for homesteading.

    Tbd Pawley, Gulliver, MI 49840
    View details
    Manistique Vacant Land Near Indian
    $32,500
    1.11 Acres

    Manistique Vacant Land Near Indian

    1.11 acre residential lot near Indian Lake and golf course.

    Tbd Leduc, Manistique, MI 49854
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    Manistique Vacant Land Near Indian Lake
    $32,500
    1.11 Acres

    Manistique Vacant Land Near Indian Lake

    1.11 acre residential lot near Indian Lake and golf course.

    Tbd Leduc, Manistique, MI 49854
    View details
    Indian Lake Vacant Land
    $32,500
    1.12 Acres

    Indian Lake Vacant Land

    Corner lot near Indian Lake with recreational opportunities.

    Tbd Leduc, Manistique, MI 49854
    View details
    Scenic Wooded Lot Near Lake
    $32,500
    1.12 Acres

    Scenic Wooded Lot Near Lake

    Over an acre near Indian Lake, perfect for building.

    Tbd Leduc, Manistique, MI 49854
    View details
    Gulliver Lake Vacant Land Parcel
    $110,000
    4.51 Acres

    Gulliver Lake Vacant Land Parcel

    Large 4.5+ acre parcel on Gulliver Lake's north shore.

    N Gulliver Lake Rd, Gulliver, MI 49840
    View details
    Historic Farmhouse with Guest House
    $239,000
    1,985 SF

    Historic Farmhouse with Guest House

    Spacious farmhouse on 24+ acres with detached guest house.

    425 Railroad St, Newberry, MI 49868
    View details
    Lake Michigan Waterfront Land Parcel
    $125,000
    1.08 Acres

    Lake Michigan Waterfront Land Parcel

    1.08 acres of Lake Michigan waterfront with south-facing views.

    W Barque Point Trl, Manistique, MI 49854
    View details
    Waterfront Land on Garden Peninsula
    $225,000
    3.50 Acres

    Waterfront Land on Garden Peninsula

    3.5 acre waterfront parcel with 200 feet of sandy shoreline.

    Tbd Ii, Garden, MI 49835
    View details
    Established Flower Shop Opportunity
    $217,500
    1,200 SF

    Established Flower Shop Opportunity

    Turnkey flower shop with inventory in Manistique, Michigan.

    176 River St, Manistique, MI 49854
    View details
    Lakefront Lots on US Highway
    $159,900
    1.47 Acres

    Lakefront Lots on US Highway

    Two lakefront lots suitable for residential or commercial use.

    16167 Us Highway 2, Cooks, MI 49817
    View details
    Historic Downtown Manistique Storefront
    $240,000
    6,200 SF

    Historic Downtown Manistique Storefront

    Turnkey business opportunity in a high-visibility location.

    239 S Cedar St, Manistique, MI 49854
    View details

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    GROVER REAL ESTATE
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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
    GROVER REAL ESTATE
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