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

    3448 S M-37 Baldwin, MI 49304

    View on Map
    Claim this Listing
    Pending
    $35,900

    LAND - Baldwin, MI

    Lot size:
    3.00 Acres
    Added:
    Sep 26, 2025
    Days on Market:
    208
    Last Refresh:
    Apr 21 at 7:06 pm

    Property Features for 3448 S M-37

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    11-022-036-01
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    On File With Listing Office
    Tax Annual Amount
    466

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Audrey Taber
    Audrey Taber

    Listing agent Audrey Taber License #6501301112

    Listing office Irons Real Estate 5739 W 10 1/2 Mile Rd PO Box 46, Irons, MI

    Listing date Sep 26, 2025

    MLS# 25049570 Listing URL

    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

    Vacant Land North of Baldwin

    Located just north of Baldwin, Michigan, this vacant land parcel encompasses three acres. The property is zoned residential but is situated in an area with commercial potential. The site is wooded and offers access less than a quarter mile from US10. The property is located on M37.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Baldwin
    County
    Lake
    State
    Michigan
    Longitude
    -85.851201
    Latitude
    43.937686

    Nearby Similar for Sale

    • $350,000
      3,800 SF

      Baldwin Commercial Property on US10

      High-visibility commercial property on 4 acres in Baldwin, Michigan.
      2748 W US Highway 10, Baldwin, MI 49304
      View Details
    • $180,000
      1,800 SF

      Baldwin Commercial Property on US10

      Commercial property on US10 with high visibility and accessibility.
      1234 Washington Street, Baldwin, MI 49304
      View Details
    • $700,000
      2,800 SF

      Established Baldwin Business Opportunity

      Thriving business with real estate near Big Star Lake.
      16421 S Star Lake Drive, Baldwin, MI 49304
      View Details
    • $55,000

      Land with Big Star Lake Access

      3.5-acre parcel with deeded access to Big Star Lake.
      8616 Katie Lane, Baldwin, MI 49304
      View Details
    • $10,000

      Land Near Mench Lake Access

      Building site with access to Mench Lake and recreational activities.
      VL S Arrowhead Trail, Baldwin, MI 49304
      View Details
    • $44,900

      Recreational Land with Existing Utilities

      Turnkey recreational property with well, septic, and electric.
      6767 S Grove Street, Baldwin, MI 49304
      View Details
    • $94,900

      Big Star Lake Waterfront Land

      0.58 acre waterfront land on Big Star Lake.
      8533 W Katie Lane, Baldwin, MI 49304
      View Details
    • $55,000

      Ready-to-Build Lot with Utilities

      Baldwin lot with electric, septic, and travel trailer.
      3225 W 1 1/2 Mile Road, Baldwin, MI 49304
      View Details
    • $14,000

      Land Near Downtown Baldwin

      Secluded building or camping site near downtown Baldwin.
      VL S Pershing Road, Baldwin, MI 49304
      View Details
    • $34,900

      Waterfront Land Near Baldwin, MI

      Waterfront land parcel on a no-wake Government Lake.
      W Wilmas Way, Baldwin, MI 49304
      View Details
    • $10,000

      Land in Lake County, MI

      Secluded land near lakes, rivers, and trails.
      VL Lots 7-11 Pershing Road, Baldwin, MI 49304
      View Details
    • $10,500

      Wooded Lot Near Recreation

      Half-acre wooded lot near US-10, state land, and river.
      V/L S Harvard Ave., Baldwin, MI 49304
      View Details

    FAQs

    What type of property is this?
    Land - Three-acre vacant land parcel near Baldwin, Michigan, with commercial potential.
    Where is this land located?
    The property is located at 3448 S M-37 Baldwin, MI.
    What is the asking price?
    The asking price for this property is $35,900.
    What are key features of this property?
    This property features: Three acres of vacant land, a blank canvas for development.; Zoned residential with commercial potential.; Prime access on M37, less than a quarter mile from US10.
    (231) 729-1902
    We can help!
    Listing Contact
    Audrey Taber
    Audrey Taber
    Real Estate License ID: 6501301112
    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!