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

    199 & 200 Lakewood Drive Presque Isle, MI 49777

    View on Map
    For Sale
    Contact for pricing

    LAND - Presque Isle, MI

    Added:
    Dec 12, 2025
    Days on Market:
    110
    Last Refresh:
    Apr 1 at 10:06 pm

    Property Features for 199 & 200 Lakewood Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-2
    Standard status
    Active
    APN
    122145-000-199(200)-00

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    lots 199 & 200 Grand Pines Subdivision #2
    TaxAnnualAmount
    67

    We can help!

    Listing Contact
    Kyle Alexander Taylor

    Listing agent Kyle Alexander Taylor License #6502418098

    Listing office Lakeshore Realty 7750 E Grand Lake Road, Presque Isle, MI

    Listing date Dec 12, 2025

    MLS# 201838246 Listing URL

    Copyright © 2025 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

    Wooded Double Lot in Presque Isle

    This property features a private, wooded double lot with paved road access. Municipal water and electric services are available adjacent to the property. Membership in the local association provides access to a clubhouse equipped with a gymnasium and fitness room, as well as tennis courts. Additional amenities include a camper's village, Crystal Point recreation area, two beach houses, and numerous private parks, beaches, and boat launches. The location is near Presque Isle Harbor and two historic lighthouses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Hotel & Motel Tech Support Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Presque Isle
    County
    Presque Isle
    State
    Michigan
    Longitude
    -83.51973
    Latitude
    45.330571

    Nearby Similar for Sale

    • $1,500

      Wooded Lot Near Presque Isle

      Private wooded lot with association amenities near multiple lakes.
      Clear Water Drive lot: 57, Presque Isle, MI 49777
      View Details
    • $7,000

      Wooded Lots Near Presque Isle

      Private wooded double lot with association amenities near multiple lakes.
      L 130-131 Laurelhill Circle lot: 130-131, Presque Isle, MI 49777
      View Details
    • $4,000

      Presque Isle Wooded Lot

      Wooded lot near beaches, lakes, and recreational facilities.
      Timberway Court lot: 233, Presque Isle, MI 49777
      View Details
    • $974,900
      3,879 SF

      Waterfront Marina Opportunity in Presque Isle

      Established marina with lake frontage and expansion potential in Michigan.
      15279 US-23 S, Presque Isle, MI 49777
      View Details
    • $19,000

      Presque Isle Wooded Quadruple Lot

      Wooded lot near Grand Lake with association access.
      L 166-169 Northland Heights Drive lot: 166-169, Presque Isle, MI 49777
      View Details
    • $3,200

      Wooded Lot in Presque Isle

      Private wooded lot with association amenities near multiple lakes.
      Pineview Drive lot: 148, Presque Isle, MI 49777
      View Details
    • $4,500

      Presque Isle Wooded Lot

      Wooded lot with association amenities near Presque Isle Harbor.
      Belfair Drive lot: 52, Presque Isle, MI 49777
      View Details
    • $6,000

      Presque Isle Wooded Lot

      Wooded lot with association amenities near multiple lakes.
      L 275-276 Lakehurst Drive lot: 275 & 276, Presque Isle, MI 49777
      View Details
    • $5,500

      Wooded Lots in Presque Isle

      Double lot with association amenities near Presque Isle Harbor.
      Belfair Drive lot: 62-63, Presque Isle, MI 49777
      View Details
    • $4,500

      Wooded Lot Near Lake Huron

      Private wooded lot with association amenities near multiple lakes.
      Lakewood Drive lot: 201, Presque Isle, MI 49777
      View Details
    • $9,000

      Wooded Lots Near Lake Huron

      Two wooded lots near beaches, lakes, and recreational facilities.
      Wilderness Circle lot: 55-56, Presque Isle, MI 49777
      View Details
    • $1,500

      Presque Isle Wooded Building Site

      Wooded building site near resort-style amenities in Presque Isle, MI.
      E Norwood Court W, Presque Isle, MI 49777
      View Details

    FAQs

    What type of property is this?
    Land - Two wooded lots with access to amenities and recreation.
    Where is this land located?
    The property is located at 199 & 200 Lakewood Drive Presque Isle, 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: Double lot with municipal water and electric adjacent to the property.; Association membership grants access to clubhouse, gymnasium, fitness room, tennis courts, camper's village, recreation area, beach houses, private parks, beaches, and boat launches.; Private wooded lot.
    (989) 595-2970
    We can help!
    Listing Contact
    Kyle Alexander Taylor
    Real Estate License ID: 6502418098
    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!