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    Listings

    For Sale (19)

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    Wooded Lot Near Tallman Lake
    Contact for pricing
    0.58 Acres

    Wooded Lot Near Tallman Lake

    Wooded 0.58 acre lot near lakes and US-31.

    Vl Sherman Rd, Fountain, MI 49410
    View details
    Manistee Land Ready to Sell
    $48,500
    1.89 Acres

    Manistee Land Ready to Sell

    Almost 2 acres in the city of Manistee.

    12Th St, Manistee, MI 49660
    View details
    Wooded Parcel Bordering Federal Land
    $104,500
    10.00 Acres

    Wooded Parcel Bordering Federal Land

    10-acre wooded parcel with cabin near Tippy Dam.

    3194 N Warfield Rd, Harrietta, MI 49638
    View details
    Manistee Triplex Renovation Opportunity
    $68,000
    0.11 Acres

    Manistee Triplex Renovation Opportunity

    Triplex renovation project with income potential in Manistee, Michigan.

    822 Vine St, Manistee, MI 49660
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    Manistee Land with Sunset Views
    $225,000
    1.48 Acres

    Manistee Land with Sunset Views

    1.5 acre Manistee land near Lake Michigan and golf.

    W 12Th St, Manistee, MI 49660
    View details
    Ready-to-Develop Land Parcel in Manistee
    $69,000
    0.42 Acres

    Ready-to-Develop Land Parcel in Manistee

    Cleared 0.42-acre parcel with utilities and easy access to amenities.

    2876 Us Highway 31, Manistee, MI 49660
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    Heavily Wooded 10-Acre Land Parcel
    $125,000
    10.00 Acres

    Heavily Wooded 10-Acre Land Parcel

    10 acres near Manistee, suitable for building or hunting.

    V/L Maple Rd, Manistee, MI 49660
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    Land in Portage Point Area
    $49,000
    0.53 Acres

    Land in Portage Point Area

    Four lots near Portage Lake, ideal for building a home.

    1 Greenway St, Onekama, MI 49675
    View details
    Wooded Land with Utilities
    $79,900
    5.55 Acres

    Wooded Land with Utilities

    Flat, wooded 5.55-acre property with well, septic, and electric.

    13798 Graf Rd, Brethren, MI 49619
    View details
    Established Floral Business Opportunity
    $499,900
    13,000 SF

    Established Floral Business Opportunity

    Thriving floral business with real estate and established clientele.

    259 5Th St, Manistee, MI 49660
    View details
    Manistee Land Near National Forest
    $170,000
    1.03 Acres

    Manistee Land Near National Forest

    1.03-acre lot near Tippy Dam and Lake Michigan.

    12031 Caberfae Hwy, Manistee, MI 49660
    View details
    Wooded Lot in Portage Ridge
    Contact for pricing
    1.34 Acres

    Wooded Lot in Portage Ridge

    1.34 acre wooded building site near Portage Lake.

    Opal Ridge Dr, Onekama, MI 49675
    View details
    Wooded Lot Near Bear Lake
    Contact for pricing
    0.36 Acres

    Wooded Lot Near Bear Lake

    Corner wooded lot suitable for modular or stick-built home.

    10Th St, Bear Lake, MI 49614
    View details
    Manistee Commercial Development Opportunity
    $389,000
    18.36 Acres

    Manistee Commercial Development Opportunity

    17-acre commercial development opportunity in Manistee County.

    2213 Us Highway 31, Manistee, MI 49660
    View details
    Lake Michigan Waterfront Building Site
    $299,000
    2.75 Acres

    Lake Michigan Waterfront Building Site

    2.75-acre building site with shared Lake Michigan frontage.

    Lakeshore Rd, Manistee, MI 49660
    View details
    Double Lot Near Bear Lake
    Contact for pricing
    0.35 Acres

    Double Lot Near Bear Lake

    Level, cleared double lot near Bear Lake public access.

    001 Ninth St, Bear Lake, MI 49614
    View details
    Wooded Lots in Manistee, MI
    $49,900
    1.44 Acres

    Wooded Lots in Manistee, MI

    Three wooded lots near Manistee and Manistee National Forest.

    V/L Caberfae Hwy, Manistee, MI 49660
    View details
    Wooded Lot Near Portage Lake
    $49,900
    1.60 Acres

    Wooded Lot Near Portage Lake

    1.6 acre wooded lot in Sunset Point development near M22.

    Emerald Ridge Trl, Onekama, MI 49675
    View details
    Eastlake Commercial Building with Licenses
    $325,000
    4,300 SF

    Eastlake Commercial Building with Licenses

    4,300 SF commercial building with multiple MLCC licenses.

    900 Caberfae Hwy, Eastlake, MI 49626
    View details

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    • For Sale

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    LIGHTHOUSE REALTY-Manistee
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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
    LIGHTHOUSE REALTY-Manistee
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