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

    5368 West Bay Shore Dr Suttons Bay, MI 49682

    Sponsored
    For Sale
    $400,000

    Vacant Lot/Land - Suttons Bay, MI

    Lot size:
    2.30 Acres
    Days on Market:
    159
    Last Refresh:
    Feb 3 at 4:06 am

    Property Features for 5368 West Bay Shore Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    Exterior features
    None, Bay View
    Lot size
    2.30 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    BJ Brick
    BJ Brick

    Re/max Bayshore Properties (231) 941-5600

    Listing agent BJ Brick (231) 941-4500

    Listing date Aug 29, 2025

    MLS# 1938097 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

    Suttons Bay Vacant Land Opportunity

    This 2.3-acre parcel in Suttons Bay, Michigan, presents a rare opportunity. The property features 120 feet of private West Bay frontage located directly across the street. The build-ready parcel offers space and views. The layout offers flexibility and natural beauty. It is located in one of Traverse City’s most sought-after locations. The generous, elevated building site has water views and easy access to the shoreline.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Hotel & Motel Department Store Bar & Pub Discount Store Wine and Liquor Store Travel Agency Bed & Breakfast Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Suttons Bay
    County
    Leelanau
    State
    Michigan
    Longitude
    -85.637589158753
    Latitude
    44.900255445051

    Nearby Similar for Sale

    • $5,000,000
      Pending

      Leelanau Peninsula Winery and Vineyard

      Turn-key Northern Michigan winery with award-winning wines and vineyard.
      9580 E Shady Ln, Suttons Bay, MI 49682
      View Details
    • $999,000
      3,187 SF

      Operating Retail Store on M-22

      Operating liquor and convenience store on M-22 corridor.
      1375 West Bay Shore Dr, Suttons Bay, MI 49682
      View Details
    • $895,000

      Updated Bay Cliff Condo

      Renovated condo with bay views and community amenities.
      898 N Bay Cliff Dr, Suttons Bay, MI 49682
      View Details
    • $1,050,000

      Condo with Boat Slip on Bay

      Condo with 50-foot boat slip near Suttons Bay.
      704 N Dockside Cir, Suttons Bay, MI 49682
      View Details
    • $1,050,000

      Condo with Boat Slip on Bay

      Condo with boat slip near Suttons Bay amenities and attractions.
      704 N Dockside Cir, Suttons Bay, MI 49682
      View Details
    • $1,050,000
      1,893 SF

      Condo with Boat Slip on Bay

      Condo with boat slip near Suttons Bay amenities and attractions.
      704 N Dockside Cir, Suttons Bay, MI 49682
      View Details
    • $3,700,000
      18,000 SF

      West Bay Shore Village: Prime MI Location

      Fully leased, mixed-use waterfront property
      5046 Bay Shore Dr, Suttons Bay, MI 49682
      View Details

    FAQs

    What type of property is this?
    Land - 2.3 acre build-ready parcel with West Bay frontage.
    Where is this land located?
    The property is located at 5368 West Bay Shore Dr Suttons Bay, MI.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - 2.3 acre property in a sought-after Traverse City location.; - 120 feet of private West Bay frontage directly across the street.; - Build-ready parcel with space and views.
    (231) 883-7570
    Request Owner's contact information
    5368 West Bay Shore Dr Suttons Bay, MI 49682
    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.
    5368 West Bay Shore Dr
    Suttons Bay, MI 49682
    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
    5368 West Bay Shore Dr Suttons Bay, MI 49682
    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
    BJ Brick
    BJ Brick
    Real Estate License ID: 6501378609
    (231) 883-7570
    Learn more
    Google sign-in failed. Please try again or use another login method.