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

    1115 S 21St St Escanaba, MI 49829

    Sponsored
    For Sale
    $32,500

    Vacant Land - Escanaba, MI

    Lot size:
    0.27 Acres
    Days on Market:
    255
    Last Refresh:
    Jan 21 at 2:06 pm

    Property Features for 1115 S 21St St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    051-152-2931-100-004
    Lot size
    0.27 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    LORI RYMKOS
    LORI RYMKOS

    Premier Real Estate Inc (906) 786-5030 [email protected]

    Listing agent LORI RYMKOS (906) 786-5030

    Listing date May 12, 2025

    MLS# 50167019 Listing URL

    Copyright © 2026 Upper Peninsula Association of 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

    Property Insight Report

    Overview

    Residential Land Near Escanaba Club

    This vacant land offers an opportunity to build a home. The lot size is 0.27 acres. It is located near the Escanaba Country Club and zoned for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Clothing Store Wholesale Shop Skin Care Clinic Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Escanaba
    County
    Delta
    State
    Michigan
    Longitude
    -87.07677
    Latitude
    45.733192

    Nearby Similar for Sale

    • $260,000
      50,000 SF

      Escanaba Commercial/Industrial Space For Sale

      49,728 SF commercial space on 1.5 acres in Escanaba.
      433 Stephenson Ave, Escanaba, MI 49829
      View Details
    • $209,900
      5,125 SF

      Escanaba Boutique in High-Traffic Area

      Established boutique in downtown Escanaba with income potential.
      1206 Ludington St, Escanaba, MI 49829
      View Details
    • New
      $1,980,000
      8,918 SF

      Versatile Commercial Building in Escanaba

      8918 sq ft building on 4.63 acres in Escanaba.
      200 N 30Th St, Escanaba, MI 49829
      View Details
    • $679,000
      31,600 SF

      Escanaba Commercial/Industrial Landmark Building

      Prominent corner location in Escanaba's central retail district.
      1100 Ludington St, Escanaba, MI 49829
      View Details
    • $599,000
      2,164 SF

      Escanaba Bar and Restaurant Opportunity

      Turnkey bar and restaurant in developing downtown Escanaba.
      1117 Ludington St, Escanaba, MI 49829
      View Details
    • $2,800,000
      3,520 SF

      Profitable Car Wash on Main Highway

      High-traffic car wash with storage units on 1.3 acres.
      2701 N Lincoln Rd, Escanaba, MI 49829
      View Details
    • $180,000
      2,015 SF

      Escanaba Multi-Family Income Opportunity

      Two-unit property with rental income potential in Escanaba, Michigan.
      308/310 S 12Th St, Escanaba, MI 49829
      View Details
    • $349,900
      9,085 SF

      Escanaba Commercial Building with Apartment

      Commercial building with office space, rental income, and live/work option.
      113 S 10Th St, Escanaba, MI 49829
      View Details
    • $85,000
      1,389 SF

      Escanaba Multifamily Property For Sale

      Multifamily property in Escanaba with separate utilities.
      1309 N 1St Ave, Escanaba, MI 49829
      View Details
    • $85,000
      1,389 SF

      Escanaba Duplex with Income Potential

      Duplex in Escanaba, MI with separate utilities and rental income.
      1309 N 1St Ave, Escanaba, MI 49829
      View Details
    • $215,000
      3,145 SF

      Prime Commercial Space on Ludington

      High-visibility commercial property with flexible zoning and income potential.
      1610 Ludington St, Escanaba, MI 49829
      View Details
    • $34,900
      4,250 SF

      Escanaba Storefront on Main Street

      Storefront property on main street with office space and storage.
      1119 Ludington St, Escanaba, MI 49829
      View Details

    FAQs

    What type of property is this?
    Land - Residential land available near Escanaba Country Club.
    Where is this land located?
    The property is located at 1115 S 21St St Escanaba, MI.
    What is the asking price?
    The asking price for this property is $32,500.
    What are key features of this property?
    This property features: - Over 1/4 acre lot provides ample space for building.; - Located near the desirable Escanaba Country Club.; - Opportunity to build a custom dream home.
    (906) 280-3165
    Request Owner's contact information
    1115 S 21St St Escanaba, MI 49829
    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.
    1115 S 21St St
    Escanaba, MI 49829
    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
    1115 S 21St St Escanaba, MI 49829
    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
    LORI RYMKOS
    LORI RYMKOS
    Real Estate License ID: UPAR
    (906) 280-3165
    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.