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    For Sale (16)

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    Waterfront Residential Lot
    $350,000
    2.14 Acres

    Waterfront Residential Lot

    Build on a waterfront parcel with a quiet Lake Superior shoreline and a secluded approach through mature forest.

    4680 S Pineshore Row, Brimley, MI 49715
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    Wooded Recreation Land with Road Frontage
    $89,500
    54.00 Acres

    Wooded Recreation Land with Road Frontage

    A wooded, privacy-rich parcel with blacktop road frontage and access to nearby snowmobile and ATV trails.

    6 6 Mile Rd, Brimley, MI 49715
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    Turnkey Grocery Store with Residence
    $449,900
    5,720 SF

    Turnkey Grocery Store with Residence

    Turnkey grocery business and retail property with major refrigeration capacity, liquor license, and an attached 3-bedroom home.

    8271 M-123, Paradise, MI 49768
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    Waterfront Land with Golden Sand
    $375,000
    2.58 Acres

    Waterfront Land with Golden Sand

    Buildable waterfront acreage with distance between road and shore on Whitefish Bay’s golden sand beaches.

    N Whitefish Point Rd, Paradise, MI 49768
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    Duplex With Attached Garage
    $105,000
    1,720 SF

    Duplex With Attached Garage

    Duplex with updated features and attached garage, suited for long-term or student-oriented rental.

    303 Sheridan Dr, Sault Sainte Marie, MI 49783
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    Handicap-Accessible Multi-Use Commercial Building
    $158,000
    600 SF

    Handicap-Accessible Multi-Use Commercial Building

    Renovated building currently operating as a hair salon, with air conditioning, restroom, on-site laundry, and ample parking.

    205 Bingham Ave, Sault Sainte Marie, MI 49783
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    Multi-Unit Residential Income Property
    $405,000
    0.32 Acres

    Multi-Unit Residential Income Property

    Income-producing multi-unit residential property offered for sale with financial information available to qualified buyers.

    1110-1114 Ashmun St, Sault Sainte Marie, MI 49783
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    Waterfront Land with Creek
    $89,000
    2.00 Acres

    Waterfront Land with Creek

    Two wooded acres with a creek and Whitefish Bay frontage offer a buildable site with walk-to waterfront access.

    10170 N Whitefish Point Rd, Paradise, MI 49768
    View details
    Wooded Bluff Lot with Bay Views
    $49,900
    1.37 Acres

    Wooded Bluff Lot with Bay Views

    Wooded lot with bay views and nature preserve access.

    W Cedar Dr, Sault Sainte Marie, MI 49783
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    Wooded Lot Near Nature Preserve
    $49,900
    1.23 Acres

    Wooded Lot Near Nature Preserve

    Wooded lot bordering Round Island Point Nature Preserve.

    W Cedar Dr, Sault Sainte Marie, MI 49783
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    Wooded Bluff Lot with Bay Views
    $49,900
    1.29 Acres

    Wooded Bluff Lot with Bay Views

    Wooded lot with bay views and nature preserve access.

    W Cedar Dr, Sault Sainte Marie, MI 49783
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    Wooded Lot Near Nature Preserve
    $49,900
    1.23 Acres

    Wooded Lot Near Nature Preserve

    Wooded lot bordering nature preserve, utilities available, near Sault Ste. Marie.

    W Cedar Dr, Sault Sainte Marie, MI 49783
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    High-Visibility Storefront Commercial Building
    $245,000
    4,502 SF

    High-Visibility Storefront Commercial Building

    Commercial building with storefront, multiple offices, kitchen, basement, and front-and-rear entrances with rear parking.

    816 Ashmun St, Sault Sainte Marie, MI 49783
    View details
    Wooded Hunting and Recreation Land
    $75,000
    50.00 Acres

    Wooded Hunting and Recreation Land

    50-acre wooded parcel with trails and clearings, bordered by state land for secluded year-round outdoor use.

    S Bound Rd, Rudyard, MI 49780
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    Wooded Land with Pole Building
    $179,900
    24.00 Acres

    Wooded Land with Pole Building

    24-acre fully wooded parcel with cleared building sites, a private drive, and a pole building with utilities available.

    2550 W 14Th St, Sault Sainte Marie, MI 49783
    View details
    Updated Retail Space with Fenced Patio
    $370,000
    3,950 SF

    Updated Retail Space with Fenced Patio

    Move-in-ready downtown retail with multiple storefront options, basement storage, and a fenced patio for customer use.

    201/205 W Portage Ave, Sault Sainte Marie, MI 49783
    View details

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    RE/MAX NorthStar Realty
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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
    RE/MAX NorthStar Realty
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