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

    1062 Castle Drive Lake Isabella, MI 48893

    View on Map
    Claim this Listing
    New
    For Sale
    $120,000

    Vacant Lot/Land - Lake Isabella, MI

    Lot size:
    0.19 Acres
    Added:
    Apr 19, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 20 at 3:06 am

    Property Features for 1062 Castle Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential,Platted Subdivision,Bldg & Use Restrictions
    Exterior features
    Club House, Golf Course, Tennis Courts, Water Front Park, Common Area, None
    Standard status
    Active
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2298.83

    Utilities

    Water front features
    Private Lake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other
    Additional Structures
    Tennis Court(s)

    We can help!

    Listing Contact
    Gayleen Eberhart
    Gayleen Eberhart

    Listing agent Gayleen Eberhart

    Listing office CENTURY 21 SIGNATURE - Lake Isabella 1001 SANDTRAP, LAKE ISABELLA, MI

    Listing date Apr 19, 2026

    MLS# 1943964 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.

    Overview

    Lake Isabella Vacant Waterfront Lot

    This vacant lot offers a prime location on Lake Isabella, an 800-acre private all-sports lake. The property is situated on a quiet cul-de-sac and has been cleared, making it ready for construction. The lot features a slope suitable for a walkout design. Lake Isabella is ideal for boating, fishing, tubing, and relaxation. Residents have easy access to an 18-hole golf course, parks, pavilions, a campground, as well as tennis and pickleball courts. The yearly association fee is $290. This property presents an opportunity to build a year-round residence or a weekend retreat and enjoy lake life.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Gym & Fitness Center Storage Facility HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Isabella
    County
    Isabella
    State
    Michigan
    Longitude
    -85.004066
    Latitude
    43.643882

    Nearby Similar for Sale

    • $7,600

      Lake Isabella Vacant Land

      Vacant lots near all-sports Lake Isabella, Michigan.
      1003 Kent Street, Lake Isabella, MI 48893
      View Details
    • $7,600

      Residential Land in Lake Isabella

      Vacant lot to build your dream home near all amenities.
      1007 Kent Street, Lake Isabella, MI 48893
      View Details
    • $8,250

      Lake Isabella Vacant Land

      Vacant lots available to build your dream home.
      1097 Lincoln Drive, Lake Isabella, MI 48893
      View Details
    • $7,600

      Lake Isabella Vacant Land

      Vacant lots available to build your dream home.
      1005 Kent Street, Lake Isabella, MI 48893
      View Details
    • $7,600

      Lake Isabella Vacant Land

      Vacant lots available to build your dream home.
      1009 Kent Street, Lake Isabella, MI 48893
      View Details
    • $8,250

      Lake Isabella Vacant Land

      Vacant lots near all-sports lake, build your dream home!
      1095 Lincoln Drive, Lake Isabella, MI 48893
      View Details
    • $50,000

      Lake Isabella Buildable Lots

      Two adjacent buildable lots near Chippewa River with Lake access.
      1041 & 1043 Bonanza Lane, Lake Isabella, MI 48893
      View Details
    • $122,500

      Lake Isabella Vacant Lot

      Ready-to-build lot with lake views and access to amenities.
      1178 Clubhouse Drive, Lake Isabella, MI 48893
      View Details
    • $45,000

      Lake Isabella Waterview Buildable Lot

      Buildable lot near Lake Isabella with access to amenities.
      1030 Granada Drive, Lake Isabella, MI 48893
      View Details
    • $45,000

      Lake Isabella Vacant Land

      Three lots totaling just under one acre in Lake Isabella.
      937-939-941 Brinton Road, Lake Isabella, MI 48893
      View Details
    • $13,900

      Lake Isabella Half-Acre Residential Lot

      Half-acre lot in Lake Isabella, build your dream home!
      1016 Pyrenees Drive, Lake Isabella, MI 48893
      View Details
    • $7,000

      Residential Lot Near Lake Isabella

      Vacant lot near Lake Isabella with lake access potential.
      1014 Granada Drive, Lake Isabella, MI 48893
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Cleared lot on Lake Isabella, ready for your dream home.
    Where is this residential land & home lot located?
    The property is located at 1062 Castle Drive Lake Isabella, MI.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Waterfront lot on private, 800‑acre all‑sports Lake Isabella.; Cleared lot ready to build with a slope ideal for a walkout basement.; Access to an 18‑hole golf course, parks, pavilions, campground, tennis & pickleball courts.
    (989) 429-9376
    We can help!
    Listing Contact
    Gayleen Eberhart
    Gayleen Eberhart
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!