Flexible Retail
For Sale
$670,000
2121 W Houghton Lake Drive, Prudenville, MI 48651
Commercial Sale, Prudenville, MI
Property Size5,500 SF
Price / SF$121.82
Days on Market316
Property Features for 2121 W Houghton Lake Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
201 Commercial
Basement
Block
Subdivision
T22N R2W
Directions
From I-75 North to Exit Houghton Lake M-55 West follow 6 miles to property located on left side in front of Walmart. From US-127 North to Houghton Lake Exit M-55 East to property on the right in front of Walmart.
Standard status
Active
APN
003-249-015-0000
Size
5,500 SF
Taxes and HOA fees
Tax Description
DEERWOOD VILLAGE #3
Legal Description
DEERWOOD VILLAGE #3
Utilities
Water source
Well
Building Details
Building materials
Steel Siding
Listing Agency:
NextHome Up North
(989) 366-3777
Listed By:
Morgan Robinson · License #6502428431
(517) 643-1834
Added: Nov 24, 2025
Changed: Sep 21
Last Checked: Oct 6 at 5:06AM
MLS# 201838112
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.
Investment Insights
Based on property information with market context.
This 5,500-square-foot storefront property in Prudenville includes a flexible interior arrangement and a substantial rear area. The building was previously used as a deli, providing a foundation for continued food-service use, retail conversion, or another commercial operation. Steel siding and a private well are among the documented property features.
The property fronts W Houghton Lake Drive along M-55 and sits steps from Walmart, placing the building within an established commercial setting. Zoning is identified as 201 Commercial. The layout and rear space offer room for a buyer to configure the premises around a retail, deli, restaurant, or other business concept.
The property fronts W Houghton Lake Drive along M-55 and sits steps from Walmart, placing the building within an established commercial setting. Zoning is identified as 201 Commercial. The layout and rear space offer room for a buyer to configure the premises around a retail, deli, restaurant, or other business concept.
Key Highlights
- 5,500‑square‑foot storefront property
- Previously operated as a deli
- Flexible interior layout with spacious rear area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,824
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$796,480
$796.5K
Cap Rate 7%
$568,914
$568.9K
Cap Rate 9%
$442,489
$442.5K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$66.0K $12.00/SF
− Vacancy
−$9.1K −$1.66/SF
EGI
$56.9K $10.34/SF
− OpEx
−$17.1K −$3.10/SF
NOI
$39.8K $7.24/SF
Area
Roscommon County, MI
Vacancy
13.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$796,480
Cap Rate 7%
$568,914
Cap Rate 9%
$442,489
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,824 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48651, MI
4,396
Population
3,825
Households
1.1
Avg Household Size
56
Median Age
19%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
62
Density / Sq Mi
$42,938
Median Household Income
$32,917
Median Earnings
$797
Median Rent
$156,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial zoning and a spacious rear area support retail, deli, or restaurant use.
Where is this storefront property located?
The property is located at 2121 W Houghton Lake Drive Prudenville, MI.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 5,500‑square‑foot storefront property; Previously operated as a deli; Flexible interior layout with spacious rear area
