Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    #2 Aspen Trl Kewadin, MI 49648

    View on Map
    Sponsored
    For Sale
    $64,900

    land - KEWADIN, MI

    Lot size:
    1.03 Acres
    Days on Market:
    55
    Last Refresh:
    Mar 10 at 3:06 am

    Property Features for #2 Aspen Trl

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.03 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Camille Campbell

    Coldwell Banker Schmidt Family Of Companies

    Listing agent Camille Campbell (866) 603-5140

    Listing date Jan 14, 2026

    MLS# 1938125 Listing URL

    Copyright © 2026 Coldwell Banker Schmidt REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Wooded Land Near Grand Traverse

    This is a one-acre, fully wooded, flat building site within walking distance of Grand Traverse Bay. The property is located just north of Elk Rapids, offering convenient access to dining and shopping in Charlevoix and Traverse City. This site is suitable for building a home.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Kewadin
    County
    Antrim
    State
    Michigan
    Longitude
    -85.375784381
    Latitude
    45.02098654

    Nearby Similar for Sale

    • $129,900

      Kewadin Storage Barn with Workshop

      Centrally located storage barn with workshop and electric door.
      6945 Windjammer Ave, Kewadin, MI 49648
      View Details
    • $649,900
      2,000 SF

      Kewadin Waterfront Commercial Property

      Profitable Gas Station & Market on Elk Lake
      7262 Cairn Hwy, Kewadin, MI 49648
      View Details
    • $850,000
      4,002 SF

      Exceptional Northern Michigan Vineyard

      Established Winery with Tasting Room & Home
      12180 Sutter Rd, Kewadin, MI 49648
      View Details
    • $160,000
      1,600 SF

      Kewadin Mixed-Use Storage Unit

      Spacious drive-through storage, ideal location.
      6911 Clipper Ave, Kewadin, MI 49648
      View Details
    • $160,000
      1,600 SF

      Kewadin Industrial Storage Unit

      Spacious drive-through storage, ideal location.
      6911 Clipper, Kewadin, MI 49648
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre wooded building site near Grand Traverse Bay.
    Where is this residential land & home lot located?
    The property is located at #2 Aspen Trl Kewadin, MI.
    What is the asking price?
    The asking price for this property is $64,900.
    What are key features of this property?
    This property features: - Fully wooded, flat building site ready for construction.; - Walking distance to Grand Traverse Bay.; - Conveniently located between Charlevoix and Traverse City.
    (231) 944-9385
    Request Owner's contact information
    #2 Aspen Trl Kewadin, MI 49648
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    #2 Aspen Trl
    Kewadin, MI 49648
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    #2 Aspen Trl Kewadin, MI 49648
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Camille Campbell
    Real Estate License ID: 6501358130
    (231) 944-9385 (866) 603-5140 (231) 922-2350
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!