Sign Up Successful!
You now have access to more from Realmo!
    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

    331 Kleehammer Club Dr Kalkaska, MI 49646

    Sponsored
    For Sale
    $30,000

    Vacant Lot/Land - Kalkaska, MI

    Lot size:
    2.22 Acres
    Days on Market:
    15
    Last Refresh:
    Feb 2 at 2:06 am

    Property Features for 331 Kleehammer Club Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Site Condominium,Agricultural Res
    Exterior features
    Common Area, Trails, Countryside View
    Lot size
    2.22 Acres

    Taxes and HOA fees

    Expense value
    250
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brenna Russell
    Brenna Russell

    Key Realty One-TC (517) 827-2120

    Listing agent Brenna Russell (517) 827-2120

    Listing date Jan 19, 2026

    MLS# 1941768 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Kalkaska Wooded Parcel For Sale

    Located at 331 Kleehammer Club Dr in Kalkaska, this 2.22-acre wooded parcel provides privacy. The lot is surrounded by trees, offering a natural buffer. The location provides easy access to US-131, allowing convenient drives to Traverse City, Grayling, and Gaylord. The region is known for outdoor recreation, riding trails, and snowmobiling. The neighboring parcel is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Cosmetics Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalkaska
    County
    Kalkaska
    State
    Michigan
    Longitude
    -84.998726
    Latitude
    44.719839

    Nearby Similar for Sale

    • $420,000
      5,920 SF

      Kalkaska Industrial Zoned Property

      Industrial property with heavy power and ample parking in Kalkaska.
      103 S Essex St, Kalkaska, MI 49646
      View Details
    • $839,650
      2,618 SF

      Turnkey Inn on Blue Bear Trail

      Established inn with modern facilities and prime trail access.
      19 W Bear Lake Rd, Kalkaska, MI 49646
      View Details
    • $359,000
      1,728 SF

      Kalkaska Commercial Property on Corner

      Commercial property on 1.3 acres with versatile setup in Kalkaska.
      810 N Birch St, Kalkaska, MI 49646
      View Details
    • New
      $170,000
      1,090 SF

      Kalkaska Office Building For Sale

      Office space in high-visibility location with traffic on 131.
      522 S Cedar St, Kalkaska, MI 49646
      View Details
    • $3,750,000
      31,000 SF

      Kalkaska Warehouse with Office Space

      31,000+ sqft warehouse with offices in Kalkaska, Michigan.
      210 Park Dr W, Kalkaska, MI 49646
      View Details
    • $175,000
      1,842 SF

      Kalkaska Warehouse with Office Space

      Industrial warehouse with office area on 0.54 acres.
      315 E Dresden St, Kalkaska, MI 49646
      View Details
    • $199,000
      6,400 SF

      Industrial Manufacturing Space For Sale

      6,400 SF industrial building suitable for manufacturing or cultivation.
      404 S Park Dr, Kalkaska, MI 49646
      View Details
    • $179,000
      1,998 SF

      Kalkaska Warehouse with Office Space

      Industrial warehouse with office area on 0.54 acres.
      315 E Dresden St, Kalkaska, MI 49646
      View Details
    • $199,000
      Pending

      Industrial Manufacturing Space For Sale

      6,400 SF industrial building suitable for manufacturing and cannabis cultivation.
      404 S Park Dr, Kalkaska, MI 49646
      View Details
    • $325,000
      1,800 SF

      Updated Duplex with In-Law Suite

      Updated, furnished duplex with in-law suite, walk to downtown.
      206 W 4Th St, Kalkaska, MI 49646
      View Details
    • New
      $65,000
      4,978 SF

      Kalkaska Mixed-Use Barn Conversion

      Two-story barn in Kalkaska with water and sewer connections.
      406 Maple St, Kalkaska, MI 49646
      View Details
    • $599,999

      Cultivation Facility with Class C License

      Operating adult-use cultivation facility with real estate and Class C license.
      312 E Dresden St, Kalkaska, MI 49646
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.22-acre wooded parcel offers privacy and convenient access.
    Where is this residential land & home lot located?
    The property is located at 331 Kleehammer Club Dr Kalkaska, MI.
    What is the asking price?
    The asking price for this property is $30,000.
    What are key features of this property?
    This property features: - 2.22-acre wooded parcel offering privacy in Northern Michigan.; - Convenient access to US-131 for easy travel to Traverse City, Grayling, and Gaylord.; - Located in a region known for outdoor recreation, trails, and snowmobiling.
    (231) 620-3506
    Request Owner's contact information
    331 Kleehammer Club Dr Kalkaska, MI 49646
    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.
    331 Kleehammer Club Dr
    Kalkaska, MI 49646
    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
    331 Kleehammer Club Dr Kalkaska, MI 49646
    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

    We can help!
    Listing Contact
    Brenna Russell
    Brenna Russell
    (231) 620-3506
    Learn more
    Google sign-in failed. Please try again or use another login method.