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    For Sale (15)

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    Lake Lancer Waterfront Lot
    $269,500
    0.46 Acres

    Lake Lancer Waterfront Lot

    Premium waterfront lot with utilities and Sugar Springs amenities.

    1938 Salisbury Dr, Gladwin, MI 48624
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    Vacant Land in Gladwin, Michigan
    Contact for pricing
    0.41 Acres

    Vacant Land in Gladwin, Michigan

    Unimproved lot near cul-de-sac with access to community amenities.

    60 Sandbridge Ct, Gladwin, MI 48624
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    Lake View Vacant Land
    $189,900
    0.42 Acres

    Lake View Vacant Land

    Over 1/3-acre lot with lake views and community amenities.

    36 Salisbury Dr, Gladwin, MI 48624
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    Residential Land in Quiet Location
    Contact for pricing
    0.31 Acres

    Residential Land in Quiet Location

    Unimproved lot near airpark and golf course with community amenities.

    291 Track Iron Trl, Gladwin, MI 48624
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    Airpark Lot in Sugar Springs
    $49,900
    0.53 Acres

    Airpark Lot in Sugar Springs

    0.53 acre airpark lot with utilities and runway access.

    1801 Highlander, Gladwin, MI 48624
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    20-Acre Wooded Hunting Paradise
    $199,500
    20.00 Acres

    20-Acre Wooded Hunting Paradise

    20-acre wooded parcel with ponds, trails, and insulated pole barn.

    2854 N Lakeshore Dr, Gladwin, MI 48624
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    Sugar Springs Vacant Land
    $44,000
    0.35 Acres

    Sugar Springs Vacant Land

    Vacant land with utilities in Sugar Springs near golf course.

    1962 Linksview Way, Gladwin, MI 48624
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    Wooded Waterfront Land on River
    $64,900
    0.27 Acres

    Wooded Waterfront Land on River

    Wooded waterfront lot perfect for camping or building.

    4535 Riverlane Dr, Alger, MI 48610
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    Sugar Springs Camping Lot
    $43,500
    0.30 Acres

    Sugar Springs Camping Lot

    0.3-acre camping lot with full hook-ups in Sugar Springs.

    5316 Archers Way, Gladwin, MI 48624
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    Airpark Lot in Sugar Springs
    $39,900
    1.06 Acres

    Airpark Lot in Sugar Springs

    1-acre lot with airpark access and Sugar Springs amenities.

    1674 Bye Way, Gladwin, MI 48624
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    Residential Land in Sugar Springs
    Contact for pricing
    0.44 Acres

    Residential Land in Sugar Springs

    Wooded lot near golf, pool, and fitness center.

    194 Lexington Ave, Gladwin, MI 48624
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    Wooded Vacant Land in Gladwin
    Contact for pricing
    0.42 Acres

    Wooded Vacant Land in Gladwin

    Nearly half-acre wooded lot with access to community amenities.

    96 Salisbury Dr, Gladwin, MI 48624
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    Vacant Land in Sugar Springs
    Contact for pricing
    0.46 Acres

    Vacant Land in Sugar Springs

    Nearly half-acre lot with access to Sugar Springs amenities.

    97 Salisbury Dr, Gladwin, MI 48624
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    Sugar Springs Vacant Land
    Contact for pricing
    0.37 Acres

    Sugar Springs Vacant Land

    0.37-acre lot with utilities and Sugar Springs amenities.

    1379 Fairfield Way, Gladwin, MI 48624
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    Vacant Land in Gladwin, MI
    Contact for pricing
    0.71 Acres

    Vacant Land in Gladwin, MI

    Two expansive lots perfect for camping or building your dream home.

    180-181 Lexington Ave, Gladwin, MI 48624
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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 RIVERHAVEN--SS
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