Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Sunrise Circle Title is generated by Realmo AI

    2228 Sommerset Drive lot 12, Alpena, MI 49707

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Alpena, MI

    Lot size:
    0.27 Acres
    Added:
    Jul 13, 2018
    Days on Market:
    2870
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for 2228 Sommerset Drive lot 12

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    04-018-358-000-012-00
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2017
    Tax Description
    Sunrise Circle Lot #12.
    Tax Annual Amount
    22

    We can help!

    Listing Contact
    Mari B Crow
    Mari B Crow

    Listing agent Mari B Crow

    Listing office CENTURY 21 NORTHLAND of ALPENA 605 Ripley Boulevard, Alpena, MI

    Listing date Jul 13, 2018

    MLS# 314797 Listing URL

    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.

    HighLights

    • County‑maintained paved road access.
    • Underground utilities (power, natural gas, telephone, cable) available.
    • City sewer and water connections available.
    • Located in Sunrise Circle Subdivision.
    • Nestled among hardwoods.
    • Close to city limits.

    Overview

    This residential land is located within the Sunrise Circle Subdivision, an area characterized by hardwood trees and proximity to the city limits of Alpena, MI. The property is situated on a county-maintained paved road. Essential utilities are available, including sewer and water connections. Underground utilities infrastructure is in place, providing power, natural gas, telephone, and cable services. The lot size is approximately 0.27 acres. The zoning is residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Alpena
    County
    Alpena
    State
    Michigan
    Longitude
    -83.472798
    Latitude
    45.044311

    Nearby Similar for Sale

    • $369,000
      4,175 SF

      Alpena Landmark Tavern For Sale

      Iconic Alpena tavern with historic charm and commercial potential.
      7930 French Road, 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
    • $289,900
      2,352 SF

      Immaculate Victorian Duplex Near Lake Huron

      Updated Alpena duplex, a turn-of-the-century investment property.
      328 W Washington, 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
    • $288,000
      2,348 SF

      Mixed-Use Commercial Property, Alpena

      High-visibility mixed-use property with retail/office space and residential unit.
      2160 US 23 S, 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
    • $589,900

      Waterfront Land on Long Lake

      0.9-acre waterfront property with 200' frontage on Long Lake.
      1170 Hanover Road, Alpena, MI 49707
      View Details
    • $175,000
      3,500 SF

      Versatile Commercial Property with Apartment

      Commercial property with retail, warehouse, and apartment in Alpena.
      4782 Werth Road, 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
    • $399,000

      Lake Huron Waterfront Acreage

      60.39+/- acres on Lake Huron with development potential.
      Lincoln Bay Drive lot: 3, 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

    FAQs

    What type of property is this?
    Land - Residential land with utilities in established subdivision near Alpena.
    Where is this land located?
    The property is located at 2228 Sommerset Drive lot 12 Alpena, 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: County‑maintained paved road access.; Underground utilities (power, natural gas, telephone, cable) available.; City sewer and water connections available.
    (989) 657-5801
    We can help!
    Listing Contact
    Mari B Crow
    Mari B Crow
    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
    2228 Sommerset Drive lot: 12, 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!