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

    5579 Martin Rd Norton Shores, MI 49441

    Sponsored
    For Sale
    Under Contract
    $249,900

    LAND - Norton Shores, MI

    Lot size:
    8.92 Acres
    Days on Market:
    63
    Last Refresh:
    Feb 5 at 2:06 am

    Property Features for 5579 Martin Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    27-119-400-0003-20
    Lot size
    8.92 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Amy Rudholm

    @HomeRealty (616) 250-1412

    Listing agent Amy Rudholm (231) 206-0927

    Listing date Dec 5, 2025

    MLS# 25034122 Listing URL

    Copyright © 2025 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

    Norton Shores Land Opportunity

    This 9.2-acre property is located in Norton Shores, Michigan, within the Mona Shores school district. The land offers a blend of seclusion and accessibility to schools, shopping, and parks. It is located 3.9 miles from schools, 1.3 miles from airports, 5.9 miles from hospitals and 2.5 miles from shopping. The lot size is 8.92 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Norton Shores
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.2461
    Latitude
    43.151466

    Nearby Similar for Sale

    • $399,900
      2,184 SF

      Norton Shores Restaurant Opportunity

      Established drive-in restaurant with high traffic location in Norton Shores.
      4221 Grand Hvn Rd, Norton Shores, MI 49441
      View Details
    • $479,900
      2,854 SF

      Norton Shores Office Property For Sale

      2.13 acre office property in prime Norton Shores location.
      4631 S Harvey St, Norton Shores, MI 49444
      View Details
    • $460,000
      3,175 SF

      Established Restaurant in Norton Shores

      Well-established restaurant for sale in Norton Shores, Michigan.
      1971 W Sherman Blvd, Norton Shores, MI 49441
      View Details
    • $1,750,000
      15,099 SF

      Industrial Building Near Muskegon Airport

      15,000 SqFt industrial building near major highways and airport.
      851 E Porter Rd, Norton Shores, MI 49441
      View Details
    • $143,900

      Modern Homes Near Tranquil Lake

      Contemporary 3-bedroom homes with modern amenities and pet-friendly environment.
      1283 E Ellis Rd, Norton Shores, MI 49441
      View Details
    • $140,900

      Modern Living Near Lake

      Contemporary 3-bedroom homes with lake access and pet-friendly amenities.
      1283 E Ellis Rd, Norton Shores, MI 49441
      View Details
    • $139,900

      Modern 3-Bedroom Homes

      47 homes with modern amenities, pet-friendly, near the lake.
      1283 E Ellis Rd, Norton Shores, MI 49441
      View Details
    • $140,900

      Modern Living in Norton Shores

      New 3-bedroom homes with modern amenities and pet-friendly environment.
      1283 E Ellis Rd, Norton Shores, MI 49441
      View Details
    • $399,900

      Established Restaurant in Norton Shores

      Well-established family restaurant with high traffic location and endless opportunities.
      4221 Grand Hvn Rd, Norton Shores, MI 49441
      View Details
    • $1,872,258

      Class A Professional Office Building

      Professional office building in Norton Shores, suitable for various uses.
      570 Seminole Rd, Norton Shores, MI 49444
      View Details
    • $1,295,000
      12,174 SF

      Executive Office Building, Norton Shores

      12,174 SF Office Building - $1.295M
      3587 Henry St, Norton Shores, MI 49441
      View Details
    • $1,872,258
      18,650 SF

      Rehmann Building: Muskegon Investment

      Class A Office & Retail Center, High ROI
      570 Seminole Rd, Norton Shores, MI 49444
      View Details

    FAQs

    What type of property is this?
    Land - 9.2 acre sanctuary in Mona Shores school district.
    Where is this land located?
    The property is located at 5579 Martin Rd Norton Shores, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Large 9.2 acre property offers privacy and space.; - Located in the desirable Mona Shores school district.; - Convenient access to schools (3.9 miles).
    (231) 206-0927
    Request Owner's contact information
    5579 Martin Rd Norton Shores, MI 49441
    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.
    5579 Martin Rd
    Norton Shores, MI 49441
    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
    5579 Martin Rd Norton Shores, MI 49441
    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
    Amy Rudholm
    (231) 206-0927
    Learn more
    Google sign-in failed. Please try again or use another login method.