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    The Largest CRE Database in the US with Over 1 Million Listings

    3945 Sugar Is Rd Sault Sainte Marie, MI 49783

    Sponsored
    For Sale
    $550,000

    Business - Sugar Island, MI

    Type:Business
    Property size:
    68 SF
    Lot size:
    28.00 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 14 at 12:06 am

    Property Features for 3945 Sugar Is Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    013-011-006-00 & 013-010-001-00
    Parking features
    Parking Lot, Paved or Surfaced
    Interior features
    Kitchen Area, Lounge/Bar, Restaurant, Restroom, Storage
    Exterior features
    High Visibility, High Traffic Location, View
    Size
    68 SF
    Lot size
    28.00 Acres

    Utilities

    Heating system
    Propane (Heating), Wood (Heating)
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Number of units
    1
    Building materials
    Stone
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    John Anderson

    Real Estate One Northern Properties (248) 802-0949

    Listing agent John Anderson, Assoc Broker (248) 802-0949 License #6502431999

    Listing date Feb 10, 2026

    MLS# 24-886 Listing URL

    Copyright © 2026 Eastern Upper Peninsula 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.

    Learn more

    Overview

    Sugar Island Marina and Campground

    This unique parcel features over 1,400 feet of St. Mary's shoreline and is located two minutes from the EUPTA ferry dock. Parcel 1 encompasses 28 acres and includes a dredged marina channel that is approximately 6 feet deep and 1,400 feet long. A developed to rustic trail features 10 vacant mobile home sites, one of which is in place but needs some TLC, and 45 campsites spread along the channel and marina, ideal for seasonal use. The rustic trail leads to the northern edge of the St. Mary's River, offering views of river traffic and the Canadian shoreline. The shoreline features a stony, quiet setting with small bays and wildlife. An additional 40-acre wooded parcel is contiguous to this parcel and west of S. Coldwell Ln., serviced by a lagoon. The former convenience store and restaurant has a new roof and 3-phase power.
    Location Intelligence

    Current Use by Public Records

    Marinas

    Map

    City
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.3293
    Latitude
    46.3629

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    FAQs

    What type of property is this?
    Marina - Unique waterfront parcel with marina, campsites, and development potential.
    Where is this marina located?
    The property is located at 3945 Sugar Is Rd Sault Sainte Marie, MI.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: - Boasting over 1,400 feet of St. Mary's River shoreline.; - Features a 28-acre parcel with a dredged marina channel (6' deep, 1400' long).; - Includes 10 vacant mobile home sites and 45 campsites.
    (248) 802-0949
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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
    3945 Sugar Is Rd Sault Sainte Marie, MI 49783
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    We can help!
    Listing Contact
    John Anderson
    Real Estate License ID: 6502431999
    (248) 802-0949
    Learn more
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