Sign Up Successful!
You now have access to more from Realmo!
    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

    1 Morel Cir Dowagiac, MI 49047

    Sponsored
    For Sale
    $85,000

    Vacant Land - Dowagiac, MI

    Lot size:
    3.40 Acres
    Days on Market:
    221
    Last Refresh:
    Jan 22 at 10:06 am

    Property Features for 1 Morel Cir

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    100
    APN
    14-130-415-033-00
    Parking features
    Garage
    Lot size
    3.40 Acres

    Taxes and HOA fees

    Expense value
    8
    Expense
    Home Owner Assessments Fee

    Utilities

    Water front features
    Wflake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Tom Jerdon

    Jerdon Real Estate, Inc.

    Listing agent Tom Jerdon (269) 782-4000

    Listing date Jun 16, 2025

    MLS# 11518414 Listing URL

    Copyright © 2026 My State 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

    Property Insight Report

    Overview

    Wooded Land Near Misty Pines

    This is a 3.4 acre site condominium located in Misty Pines. The wooded land offers a private location with frontage. The area is scenic and features an abundance of wildlife on a no-wake lake suitable for bass and panfish. A minimum home size of 1,500 square feet is required. Septic and water well permits are needed. The building area above the FEMA base flood elevation line is estimated to be 175 x 340 feet. The site is in a natural, undeveloped state. The quiet development includes lakefront and lake access homes, as well as a private paved road. The Master Deed and by-laws are in effect. Building and Zoning codes are managed by Silver Creek Township.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Dowagiac
    County
    Cass
    State
    Michigan
    Longitude
    -86.132869
    Latitude
    42.04106

    Nearby Similar for Sale

    • $450,000
      4,246 SF

      Downtown Investment Opportunity with Apartment

      Updated commercial space with luxury apartment in thriving downtown.
      143 S Front St, Dowagiac, MI 49047
      View Details
    • $339,000
      2,527 SF

      Downtown Dowagiac Renovated Commercial Property

      Renovated commercial property in downtown Dowagiac, steps from local amenities.
      111 Commercial St, Dowagiac, MI 49047
      View Details
    • $199,900
      0.38 Acres

      Spacious Three-Unit Investment Property

      Three-unit property with garage and large yard in Dowagiac, MI.
      423 E Division St, Dowagiac, MI 49047
      View Details
    • $199,900
      2,064 SF

      Redevelopment Opportunity in Dowagiac, MI

      High-visibility commercial property with existing infrastructure near Sister Lakes.
      28102 M 152, Dowagiac, MI 49047
      View Details
    • $99,900
      Pending

      Two Cottages Near Big Crooked Lake

      Two updated cottages on separate lots near Big Crooked Lake.
      66476 Oak St, Dowagiac, MI 49047
      View Details
    • $2,650,000
      63,148 SF

      Industrial Property with Long-Term Lease

      Triple net industrial property leased through 2039 with scheduled rent.
      55905 92Nd Ave, Dowagiac, MI 49047
      View Details
    • $125,000

      Versatile Commercial/Residential Property on Acres

      Mixed-use property with storefront, apartment, and additional building.
      54474 M 51 N, Dowagiac, MI 49047
      View Details
    • $3,500,000
      294.00 Acres

      Prime Golf Course Investment Opportunity

      Michigan Golf Course, 294 Acres, $3.5M
      29592 Pokagon Hwy, Dowagiac, MI 49047
      View Details
    • $1,999,999
      10.96 Acres

      Unique Michigan Estate: $1.99M

      10-acre campus; endless potential
      56968 Dailey Rd, Dowagiac, MI 49047
      View Details
    • $1,888,000
      63,148 SF

      Dowagiac Industrial Investment

      8% Cap Rate, 63,148 SF NNN Lease
      55905 92Nd Ave, Dowagiac, MI 49047
      View Details

    FAQs

    What type of property is this?
    Land - 3.4 acre wooded land near a no-wake lake.
    Where is this land located?
    The property is located at 1 Morel Cir Dowagiac, MI.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - 3.4 +/- acres of wooded property with LAKE FRONTAGE on a no-wake lake.; - Very private location with abundant wildlife and SCENIC VIEWS.; - Building area above FEMA base flood elevation (estimated 175' x 340').
    (269) 782-4000
    Request Owner's contact information
    1 Morel Cir Dowagiac, MI 49047
    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.
    1 Morel Cir
    Dowagiac, MI 49047
    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
    1 Morel Cir Dowagiac, MI 49047
    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
    Tom Jerdon
    (269) 782-4000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.