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    3309 Lakeland Drive unit 36 Arcadia, MI 49613

    View on Map
    For Sale
    $59,500

    LAND - Arcadia, MI

    Lot size:
    0.00 Acres
    Added:
    Jul 26, 2025
    Days on Market:
    250
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 3309 Lakeland Drive unit 36

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    01-450-036-00
    Lot size
    0.00 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    VALLEYWOOD COVE AT POINT ARCADIA CONDO UNIT #36 SALE(90) 6530 0389-436
    TaxAnnualAmount
    250

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Brenda Cronan
    Brenda Cronan

    Listing agent Brenda Cronan

    Listing office Coldwell Banker ALM REALTY 324 First Street, Manistee, MI

    Listing date Jul 26, 2025

    MLS# 25038468

    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

    Arcadia Land with Lake Access

    This property offers lakefront community living on Lake Arcadia, with access to Lake Michigan. The lot is situated in a small, private community featuring park-like settings and water views. Residents have access to a community center with an entertaining area and a tennis court. The Lakeside Marina is located at the end of the subdivision, and the Arcadia Marsh Nature Preserve is across the highway. The home site is located half a block from Marina boat docks, offering water views of the channel. Boat slip is available. The property provides access to the waterways of the Great Lakes. New member admission fee is $1500. The lot size is 0.0008 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Auto Parts Store Department Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Arcadia
    County
    Manistee
    State
    Michigan
    Longitude
    -86.235739
    Latitude
    44.487235

    Nearby Similar for Sale

    • $99,000

      Arcadia Vacant Lot Ready to Build

      Beautiful, cleared lot in quiet Arcadia, near Lake Michigan.
      Lot 29 Third Street, Arcadia, MI 49613
      View Details
    • $99,000

      Arcadia Vacant Land Ready

      Open lot in quiet location near Lake Michigan and Arcadia.
      Lot 30 Third Street, Arcadia, MI 49613
      View Details
    • $99,900

      Arcadia, MI Building Lot

      Buildable lot near Arcadia Marina, Lake Michigan, and Arcadia Lake.
      16 Hazel-State Street, Arcadia, MI 49613
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land in lakefront community with access to Lake Michigan.
    Where is this residential land & home lot located?
    The property is located at 3309 Lakeland Drive unit 36 Arcadia, MI.
    What is the asking price?
    The asking price for this property is $59,500.
    What are key features of this property?
    This property features: Lake Arcadia waterfront community with access to Lake Michigan.; Access to community center with entertaining area and tennis court.; Proximity to Lakeside Marina with boat docks and potential boat slip availability.
    (231) 794-1777
    We can help!
    Listing Contact
    Brenda Cronan
    Brenda Cronan
    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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