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    17275 Caberfae Highway Wellston, MI 49689

    View on Map
    For Sale
    $375,000

    COMMERCIAL - Wellston, MI

    Type:Retail
    Property size:
    2,698 SF
    Lot size:
    1.75 Acres
    Added:
    Jul 17, 2025
    Days on Market:
    259
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 17275 Caberfae Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    10-112-375-07 & 10-112-375-06
    Size
    2,698 SF
    Lot size
    1.75 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    E 167FT OF W 300FT OF SE 14 SW 14 LYING S OF M55 HWY RW SEC 12 T21N R14W 1.05 A.
    TaxAnnualAmount
    1700

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Water source
    Well

    Building Details

    Year built
    1949
    Floors in Building
    1
    Number of units
    1
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    John Zuluaga-Torres

    Listing agent John Zuluaga-Torres

    Listing office Keller Williams GR East 1555 Arboretum Dr. SE Ste 101, Grand Rapids, MI

    Listing date Jul 17, 2025

    MLS# 25041849

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wellston Retail Opportunity on Highway

    Located in northern Michigan, between Manistee and Cadillac, this retail property is situated on a high-traffic highway. The surrounding area is known for golf, skiing, the Little River Casino, Tippy Dam, and inland lakes. The property includes a lot and house next door, offering opportunities to increase parking. The building has been improved with investments in new compressors and an awning. The property size is 2698 square feet and the lot size is 1.75 acres. The business has potential for growth by expanding into unused square footage, increasing media presence, and installing gas pumps, toy rentals, or an ice cream window. Sales are up year to date over 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    M-55 Market Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Kitchen & Bath Showroom Food Market Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wellston
    County
    Manistee
    State
    Michigan
    Longitude
    -85.955841
    Latitude
    44.224755

    Nearby Similar for Sale

    • $178,500

      Wellston Multifamily Property with Two Homes

      Two rental homes on one property near Manistee Forest.
      925 S Highbridge Road, Wellston, MI 49689
      View Details
    • $1,100,000

      Unique Lodge in Manistee Forest

      One-of-a-kind retreat in Michigan's Manistee National Forest.
      1306 N Tippy Dam Rd, Wellston, MI 49689
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property on high-traffic highway with expansion potential.
    Where is this grocery and convenience store located?
    The property is located at 17275 Caberfae Highway Wellston, MI.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: High‑traffic highway location between Manistee & Cadillac.; Business with year‑to‑date sales increase over 2024.; Includes adjacent lot and house for expansion or parking.
    (616) 575-1800
    We can help!
    Listing Contact
    John Zuluaga-Torres
    Learn More
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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
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