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    The Largest CRE Database in the US with Over 1 Million Listings

    Mark W. Riggle, Manitou Beach, MI

    License ID: 6501168133
    Years of Experience
    20
    Languages
    English
    Association
    Lenawee County Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (517) 206-4474
    Office Address:
    14589 W US 223, Manitou Beach, MI

    Property Types

    • Commercial Sale
    • Land
    • Residential

    Performance

    Listings
    16
    Total transactions
    391
    Total transactions amount
    $107M
    Price range
    $183k - 411k
    Average price
    $274k

    Listings

    For Sale (16)

    View map
    • $269,000
      1.37 Acres

      Residential Lot in Onsted, MI

      Residential land available in Onsted, Michigan.
      39/40 Odowling Dr, Onsted, MI 49265
      View Details
    • $195,000
      19.17 Acres

      Picturesque 19+ Acre Land Parcel

      19+ acres in Brooklyn, MI, ideal for custom estate.
      V/L Hardcastle Rd, Brooklyn, MI 49230
      View Details
    • Contact for pricing
      0.46 Acres

      Residential Land Near Lake Columbia

      Land with lake privileges near downtown Brooklyn and Michigan Speedway.
      45 Wilkshire Dr, Brooklyn, MI 49230
      View Details
    • $195,000
      19.17 Acres

      Brooklyn, MI Acreage Available

      19.17 acre land parcel in Brooklyn, Michigan for sale.
      V/L Hardcastle Rd Rd, Brooklyn, MI 49230
      View Details
    • $310,000
      5,245 SF

      Concord, MI Retail Opportunity

      Retail property for sale in Concord, Michigan.
      101 S Main St, Concord, MI 49237
      View Details
    • $269,000
      1.37 Acres

      Waterfront Land on Loch Erin

      Rare double lot with 250+ feet of prime waterfront.
      lot 39/40 Odowling Dr, Onsted, MI 49265
      View Details
    • $79,000
      Pending

      Lakefront Land in Onsted, MI

      Buildable lot with 250+ feet of Kelly Lake frontage.
      920 Cambridge Dr, Onsted, MI 49265
      View Details
    • Contact for pricing
      0.46 Acres

      Land Lot in Brooklyn, MI

      Residential land available in Brooklyn, Michigan.
      45 Wilkshire Dr, Brooklyn, MI 49230
      View Details
    • $125,000
      0.86 Acres

      Cleared Land Parcel in Brooklyn

      Build-ready 0.86-acre parcel with lake frontage and dock access.
      108 Bloomfield Blvd, Brooklyn, MI 49230
      View Details
    • $169,000
      0.54 Acres

      Waterfront Lot on Loch Erin

      Prime waterfront lot on all-sports Loch Erin.
      Odowling Dr, Onsted, MI 49265
      View Details
    • $100,000
      0.74 Acres

      Waterfront Land on Loch Erin

      Rare 0.74-acre waterfront lot on all-sports Loch Erin.
      Odowling Dr, Onsted, MI 49265
      View Details
    • $310,000
      5,245 SF

      Restored Bank Building in Concord

      Meticulously restored 5,245 SF commercial building in Concord, Michigan.
      101 S Main St, Concord, MI 49237
      View Details
    • $169,000
      0.54 Acres

      Residential Lot in Onsted, MI

      Residential lot available in Onsted, Michigan.
      40 Odowling Dr, Onsted, MI 49265
      View Details
    • $100,000
      0.74 Acres

      Residential Lot in Onsted, MI

      Residential land available in Onsted, Michigan.
      39 Odowling Dr, Onsted, MI 49265
      View Details
    • $125,000
      0.86 Acres

      Land For Sale, Brooklyn, MI

      Land available for purchase in Brooklyn, Michigan.
      108 Bloomfield Blvd, Brooklyn, MI 49230
      View Details
    • $1,800,000

      Little Caesars Franchise with Real Estate

      Turn-key Little Caesars franchise with real estate for sale.
      1540 W Maumee St, Adrian, MI 49221
      View Details

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    • For Sale

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    Mark W. Riggle, Manitou Beach, MI
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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.

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    Mark W. Riggle, Manitou Beach, MI
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