Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1930 M-32 W Alpena, MI 49707

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

    COMMERCIAL - Alpena, MI

    Lot size:
    2.93 Acres
    Added:
    Oct 15, 2025
    Days on Market:
    200
    Last Refresh:
    May 2 at 11:06 pm

    Property Features for 1930 M-32 W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial-Imp
    Standard status
    Active
    APN
    012-020-000-612-00
    Lot size
    2.93 Acres

    Taxes and HOA fees

    Tax Description
    T31N R8E SEC 20 COM AT SW SEC COR TH N 2D 25M E 575 FT ALG W SEC LN TO POB TH CONT N 2D 25M E ALG SEC LN 749.46 FT TO S E-W 1/8 LN TH S 87D 29M 8S E 170 FT ALG 1/8 LN TH S 2D 25M 13S W 753.36 FT TH N 86D 15M W 170 FT TO POB PART OF SW 1/4 OF SW 1/4

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Margie K Haaxma

    Listing agent Margie K Haaxma License #6506003422

    Listing office Banner Realty 259 S Ripley Boulevard, Alpena, MI

    Listing date Oct 15, 2025

    MLS# 201837682

    Copyright © 2026 Water Wonderland Board 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.

    Overview

    Commercial Land Near M-32

    This commercial land offers 2.93 acres with B2 zoning. The property is located behind the Eagles on M-32. It measures 170 feet deep by 753 feet. The site is filled and ready for construction. The property is partially treed at the far end and features a 33-foot graveled road already installed in front. Potential uses include a child care center, storage rental buildings, a large pole barn, or three separate lots. It could also accommodate small businesses, office buildings, an exercise building, a food court area, indoor games, or medical offices. The property is near Home Depot, Walmart, McDonald's, and Applebee's.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Alpena
    County
    Alpena
    State
    Michigan
    Longitude
    -83.491133
    Latitude
    45.064134

    Nearby Similar for Sale

    • $288,000

      High-Visibility Mixed-Use Commercial Property

      Corner lot commercial property with retail space and upper-level living.
      2160 S US 23, Alpena, MI 49707
      View Details
    • $189,900
      1,383 SF

      Well-Maintained Medical Office with Garage

      Medical office with garage, remodeled in 2001, suitable for professionals.
      3448 US-23 S, Alpena, MI 49707
      View Details
    • $499,900
      1,054 SF

      Commercial Property with Income Potential

      Mixed-use property featuring auto repair, storage units, and residential rental.
      3216 S US Highway 23, Alpena, MI 49707
      View Details
    • $303,666
      5,460 SF

      Alpena Distribution Warehouse For Sale

      5,460 SF distribution warehouse with loading ramps and parking.
      941 S Ninth Avenue, Alpena, MI 49707
      View Details
    • $168,000

      Remodeled Duplex Investment Opportunity

      Excellent duplex investment with separate utilities in Alpena, Michigan.
      119 Tuttle Street, Alpena, MI 49707
      View Details
    • $5,000

      Wooded Lot Near Lake Winyah

      Quarter-acre wooded lot ideal for cabin or camp retreat.
      245 Winyah Drive, Alpena, MI 49707
      View Details
    • $254,900

      Alpena Land for Recreation, Hunting

      78+ acre wooded land perfect for hunting, recreation.
      4200 Bloom Road, Alpena, MI 49707
      View Details
    • $149,900

      Lake Huron Waterfront Land Parcel

      Scenic 2+ acre waterfront property on Lake Huron.
      6777 Swimmers Cove Road, Alpena, MI 49707
      View Details
    • $150,000

      Turnkey Restaurant Opportunity in Alpena

      High-visibility takeout restaurant location near public beach in Alpena.
      1001 S State Avenue, Alpena, MI 49707
      View Details
    • $834,000

      139 Acres Industrial Land, Alpena

      139 acres of industrial-zoned land with dual access.
      139 AC Witt Road, Alpena, MI 49707
      View Details
    • $220,000

      Northern Michigan Land with River Frontage

      22.4 acres with 1,780 feet of Thunder Bay River frontage.
      6378 Macey Lane, Alpena, MI 49707
      View Details
    • $20,000

      Land Near Medical Hub

      Over half-acre lot near a regional medical hub.
      109 Arbor Lane, Alpena, MI 49707
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.93 acre commercial land with B2 zoning near M-32.
    Where is this commercial land located?
    The property is located at 1930 M-32 W Alpena, 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: Large 3‑acre lot with B2 zoning for diverse commercial development.; Prime location on M‑32, near Home Depot and Walmart.; Ready to build on, filled property with public sewer access.
    (989) 464-7209
    We can help!
    Listing Contact
    Margie K Haaxma
    Real Estate License ID: 6506003422
    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

    Thank You for Inquiry

    1930 M-32 W, Alpena, MI 49707

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!