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

    PARCEL 11 MULLETT VIEW DRIVE Cheboygan, MI 49721

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    land - CHEBOYGAN, MI

    Lot size:
    1.25 Acres
    Added:
    Feb 18, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 25 at 1:06 am

    Property Features for PARCEL 11 MULLETT VIEW DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Interior features
    APPLIANCES:
    Standard status
    Active
    Lot size
    1.25 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Heather Nutt
    Heather Nutt

    Listing agent Heather Nutt

    Listing office Indian River 3970 South Straits Highway Box 631, MI

    Listing date Feb 18, 2026

    MLS# 201832362 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.

    Overview

    Land Parcel Near Mullett Lake

    This 1.25+/- acre parcel of land is suitable for building. The property is high and dry, with a flat topography. Natural gas and electricity are conveniently accessible. The location provides access to Mullett Lake, Aloha State Park, and a trail system for walking, biking, and snowmobiling. Cheboygan is also nearby, offering shopping and dining opportunities. The Inland Water Way is easily accessible from this location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cheboygan
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.3636
    Latitude
    45.5327

    Nearby Similar for Sale

    • $895,000

      Versatile Commercial Building on High-Traffic Corner

      Commercial building with flexible layout and high visibility on M-33.
      9750 N Straits Highway, Cheboygan, MI 49721
      View Details
    • $475,000

      Cheboygan Commercial Property on 25+ Acres

      Commercial property with office, storage, garage, outbuildings, and home.
      1985 E Levering, Cheboygan, MI 49721
      View Details
    • $310,000

      Cheboygan Storage Building For Sale

      5000 sq.ft. storage building near Burt & Mullet lakes.
      715 Indian Trail, Cheboygan, MI 49721
      View Details
    • $799,900
      16,200 SF

      Versatile Commercial Building in Cheboygan

      Large commercial building with office, showroom, and storage space.
      9445 N Straits Highway, Cheboygan, MI 49721
      View Details
    • $735,000

      Vacant Land Improved Business Opportunity

      Vacant land with development potential near Burt & Mullett Lakes.
      750 W Indian Trail, Cheboygan, MI 49721
      View Details
    • $14,500

      Marina Slip Near Mackinac Island

      40ft marina slip with amenities and waterway access.
      138 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $70,400

      Cheboygan Land for Sale

      Land with potential for storage unit development near Burt & Mullett.
      715 Indian Trail, Cheboygan, MI 49721
      View Details
    • $17,000

      Cheboygan Boat Slip For Sale

      Premier 40' boat slip at Duncan Bay Boat Club.
      902 Boat Club Drive, Cheboygan, MI 49721
      View Details
    • $22,500

      60ft Boat Slip in Cheboygan

      60ft boat slip in Duncan Bay Boat Club for sale.
      27 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $18,000

      40ft Boat Slip in Cheboygan

      40ft boat slip with amenities in Duncan Bay Boat Club.
      90 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $399,900

      Versatile Commercial Property on Straits Highway

      12.8 acre commercial property with highway frontage and storage structures.
      9445 N Straits Highway, Cheboygan, MI 49721
      View Details
    • $15,000

      40ft Boat Slip in Cheboygan

      40ft boat slip with amenities in Duncan Bay Boat Club.
      115 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details

    FAQs

    What type of property is this?
    Land - 1.25 acre parcel near Mullett Lake and Cheboygan.
    Where is this land located?
    The property is located at PARCEL 11 MULLETT VIEW DRIVE Cheboygan, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 1.25+/- acre high/dry, flat parcel ready to build.; Convenient access to natural gas and electricity.; Minutes from Mullett Lake and Inland Water Way.
    (231) 758-1218
    We can help!
    Listing Contact
    Heather Nutt
    Heather Nutt
    Real Estate License ID: 6501404381
    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!