Your AI Navigator in Commercial Real Estate
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

    3Rd St Onekama, MI 49675

    Sponsored
    For Sale
    $340,000

    LAND - Onekama, MI

    Lot size:
    8.50 Acres
    Days on Market:
    6
    Last Refresh:
    Jan 18 at 8:06 am

    Property Features for 3Rd St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    000000000000
    Lot size
    8.50 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water front features
    Creek
    Water front
    1

    We can help!

    Listing Contact
    Deborah Nale

    CENTURY 21 Northland (231) 723-6100

    Listing agent Deborah Nale (231) 723-6100

    Listing date Jan 13, 2026

    MLS# 25042336 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.

    Learn more

    Overview

    Onekama Land with Creek Frontage

    This 8.5-acre property in Onekama, Michigan, features a buildable lot with 100 feet of level, paved road frontage, attached to acres of woodland with approximately 1,000 feet of crystal-clear creek frontage. The property includes both sides of the creek, an integral part of the Portage Lake watershed. Groomed hiking trails and several campsites are present, creating a private park-like setting with bridges over meandering waters and mossy trails with swings leading to ridges with panoramic valley views. Located three blocks from Portage Lake, which channels out to Lake Michigan, the property offers access to village municipal sewer, natural gas, and snowplowing services. The village of Onekama provides amenities such as a grocery store, EMT/Fire Department, library, and four marinas with boat launches. The property is also located approximately 15 minutes from airport hubs with flights from Chicago and about 3 miles from Lake Michigan beaches, lighthouses, and piers. Local parks and waterways are accessible by bike and boat. The property is located on 3rd Street in Onekama, MI.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Onekama
    County
    Manistee
    State
    Michigan
    Longitude
    -86.193708
    Latitude
    44.366507

    Nearby Similar for Sale

    • $1,200,000
      0.21 Acres

      Renovated Triplex on Portage Lake

      Rare investment opportunity with three units on scenic M-22.
      4642 Main St, Onekama, MI 49675
      View Details
    • $749,000
      0.89 Acres

      Victorian Home in Onekama

      Charming, updated Victorian near Portage Lake, ideal for B&B.
      8195 5Th St, Onekama, MI 49675
      View Details
    • $749,000
      2,056 SF

      Victorian Bed & Breakfast Near Lake

      Charming Victorian home with modern updates, near Portage Lake.
      8195 5Th St, Onekama, MI 49675
      View Details
    • $390,000
      800 SF

      Onekama Commercial Space with Residence

      Commercial space with residential unit in Onekama, Michigan.
      4990 Main St, Onekama, MI 49675
      View Details

    FAQs

    What type of property is this?
    Recreation land - 8.5 acres with creek frontage near Portage Lake and Lake Michigan.
    Where is this recreation land located?
    The property is located at 3Rd St Onekama, MI.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: - Discover 8.5 acres of prime woodland waterfront featuring approximately 1,000 feet of crystal clear creek frontage, owning both sides of the creek.; - Buildable lot on 100 feet of level, paved road frontage with village municipal sewer and natural gas available.; - Enjoy groomed hiking trails, campsites, bridges, and swings creating a private park with panoramic valley views.
    (231) 920-4260
    Request Owner's contact information
    3Rd St Onekama, MI 49675
    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.
    3Rd St
    Onekama, MI 49675
    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
    3Rd St Onekama, MI 49675
    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
    Deborah Nale
    (231) 920-4260
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.