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

    00 Fairways Dr Charlevoix, MI 49720

    Sponsored
    For Sale
    $2,160,000

    Vacant Lot/Land - Charlevoix, MI

    Lot size:
    10.53 Acres
    Days on Market:
    339
    Last Refresh:
    Jan 25 at 4:06 am

    Property Features for 00 Fairways Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Planned Unit Development,Site Condominium,Deed Restrictions,Bldg & Use Restrictions
    Pool private
    1
    Exterior features
    Club House, Golf Course, Tennis Courts, Pool, Exercise Facility, Will Build To Suit, Golf Course View, Golf Course Frontage, Landscaped
    Lot size
    10.53 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other
    Additional Structures
    Tennis Court(s)

    We can help!

    Listing Contact
    Austen Lobenherz
    Austen Lobenherz

    Berkshire Hathaway Home Svcs (231) 547-9905

    Listing agent Austen Lobenherz (231) 547-9905

    Listing date Feb 21, 2025

    MLS# 1930972 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. 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

    Charlevoix Land Overlooking Golf Course

    This 10.3-acre property is approved for the construction of 9 buildings, totaling 36 units. The site overlooks the 7th fairway and ponds of the Charlevoix Country Club. Underground infrastructure is already in place to support the development, including roads, water and sewer lines, electric utilities, an entrance feature, and grading. The property is located within the Charlevoix Country Club on the 7th fairway of an 18-hole golf course. It is conveniently located within walking distance of the Mt McSauba nature preserve and North Point Lake Charlevoix access. The regional bike trail and community pool are adjacent to the property, and a cart path provides access to club amenities. Two buildings were previously constructed, demonstrating the popularity of developments in this area. This site presents a turnkey opportunity for a builder or developer. The property is zoned for Planned Unit Development, Site Condominium, and includes Deed and Building & Use Restrictions.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Charlevoix
    County
    Charlevoix
    State
    Michigan
    Longitude
    -85.218912404633
    Latitude
    45.335131618512

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    FAQs

    What type of property is this?
    Land - 10.3 acres approved for 36 units with infrastructure in place.
    Where is this land located?
    The property is located at 00 Fairways Dr Charlevoix, MI.
    What is the asking price?
    The asking price for this property is $2,160,000.
    What are key features of this property?
    This property features: - Turnkey development opportunity: 10.3 acres previously approved for 36 units with infrastructure in place.; - Prime location within Charlevoix Country Club on the 7th fairway, offering golf course views and frontage.; - Adjacent to regional bike trail and community pool, with cart path access to club amenities.
    (231) 675-4474
    Request Owner's contact information
    00 Fairways Dr Charlevoix, MI 49720
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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
    00 Fairways Dr Charlevoix, MI 49720
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    We can help!
    Listing Contact
    Austen Lobenherz
    Austen Lobenherz
    (231) 675-4474
    Learn more
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