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

    4856 Mancelona Rd Mancelona, MI 49659

    Sponsored
    For Sale
    $335,000

    LAND - Mancelona, MI

    Lot size:
    80.00 Acres
    Days on Market:
    24
    Last Refresh:
    Jan 28 at 5:06 pm

    Property Features for 4856 Mancelona Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    05-11-123-001-00
    Lot size
    80.00 Acres

    We can help!

    Listing Contact
    Kathleen Lightbody
    Kathleen Lightbody

    Key Realty TC (231) 492-0373

    Listing agent Kathleen Lightbody (313) 587-6677

    Listing date Jan 5, 2026

    MLS# 201835412 Listing URL

    Copyright © 2026 Water Wonderland 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

    Property Insight Report

    Overview

    80 Acres in Mancelona, MI

    This 80-acre corner parcel is located just east of Mancelona, Michigan, at the crossroads of Hwy 131 and M88. The property is situated in an unzoned township, lending itself to multiple residential, recreational, and commercial opportunities. It features 445 yards of frontage alongside Mancelona Road and a depth of nearly twice that distance along Merrimac Road. The corner position allows additional access and privacy for residential or camping purposes. The land comprises a mix of cleared spaces, pine, and hardwoods. The location provides a quick drive to Bellaire, Torch Lake, Lakes of the North, and Shanty Creek Resort, with easy access to Traverse City and Petoskey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Mancelona
    County
    Antrim
    State
    Michigan
    Longitude
    -84.992626
    Latitude
    44.898616

    Nearby Similar for Sale

    • $328,500
      1,380 SF

      Party Store, Gas Station, RV Sites

      Thriving business opportunity with store, gas, and RV rentals.
      11380 NE Starvation Lake Rd, Mancelona, MI 49659
      View Details
    • $299,000
      6,400 SF

      Mancelona Warehouse with Truck Well

      6,400 SF warehouse on 3.22 acres with commercial zoning.
      1680 NE Plum Valley Rd, Mancelona, MI 49659
      View Details
    • $389,000
      1,559 SF

      Furnished Condo with Mountain Views

      Three-bedroom condo in Shanty Creek's Schuss Village with resort amenities.
      6658 Schuss Mountain Ln, Mancelona, MI 49659
      View Details
    • $255,000

      Versatile Commercial Property with US-131 Frontage

      Commercial property with office, heated shop, and storage space.
      9560 Us Highway 131 Ne, Mancelona, MI 49659
      View Details
    • $299,000

      Former Transfer Facility on Acreage

      Commercial zoned transfer facility with truck well on 3.22 acres.
      1680 Plum Valley Rd Ne, Mancelona, MI 49659
      View Details
    • $365,000

      Large Pole Building on Acreage

      11,500 SF pole building on 4 acres.
      2641 NE Plum Vly Dr, Mancelona, MI 49659
      View Details
    • $164,900
      1,500 SF

      Mancelona Industrial Building - High Visibility

      Spacious industrial building, 4.46 acres, US-131 frontage.
      10783 Us-131, Mancelona, MI 49659
      View Details
    • $365,000
      1,380 SF

      Thriving Mancelona Business w/ RV Sites

      Gas Station, Party Store, RV Hookups - High Potential!
      11380 Starvation Lake Rd, Mancelona, MI 49659
      View Details
    • $995,000
      2,036 SF

      but should be verified. Dimensions

      & acreage were estimated. Don't miss the video tour.""""}"""
      2927 Mancelona Rd, Mancelona, MI 49659
      View Details
    • $385,000
      6,400 SF

      Mancelona Industrial Flex Space

      6,400 SF Flex Space - $385K
      1680 Plum Valley Rd, Mancelona, MI 49659
      View Details
    • $385,000
      6,400 SF

      Mancelona Industrial Facility - 6400 sqft

      Spacious industrial building on 3.22 acres.
      1680 Plum Valley Rd, Mancelona, MI 49659
      View Details
    • $34,900
      2.12 Acres

      131 011-002-004-10, Mancelona, MI 49659

      Commercial real estate • 2.12 Acres
      131 011-002-004-10, Mancelona, MI 49659
      View Details

    FAQs

    What type of property is this?
    Land - 80-acre corner parcel near Mancelona with multiple opportunities.
    Where is this land located?
    The property is located at 4856 Mancelona Rd Mancelona, MI.
    What is the asking price?
    The asking price for this property is $335,000.
    What are key features of this property?
    This property features: - 80-acre corner parcel in a resurgent community near Mancelona.; - Unzoned township allows for residential, recreational, or commercial development.; - Significant road frontage (445 yards) on Mancelona Road with additional frontage on Merrimac Road.
    (313) 587-6677
    Request Owner's contact information
    4856 Mancelona Rd Mancelona, MI 49659
    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.
    4856 Mancelona Rd
    Mancelona, MI 49659
    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
    4856 Mancelona Rd Mancelona, MI 49659
    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
    Kathleen Lightbody
    Kathleen Lightbody
    Real Estate License ID: 6501441119
    (313) 587-6677
    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.