Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Honor, MI Vacant Land Title is generated by Realmo AI

    5896 Indian Hill Road, Honor, MI 49640

    View on Map
    Claim this Listing
    For Sale
    $274,989

    Vacant Land Improved - Honor, MI

    Lot size:
    10.00 Acres
    Added:
    Jul 9, 2025
    Days on Market:
    318
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 5896 Indian Hill Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Other,Rural
    Exterior features
    None, Countryside View, Other
    Standard status
    Active
    Lot size
    10.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2129

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brooks Wilcox

    Listing agent Brooks Wilcox

    Listing office REMAX Bayshore - West Shore Dr TC 12930 S West Bay Shore Dr, Traverse City, MI

    Listing date Jul 9, 2025

    MLS# 1936125 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.

    HighLights

    • 10‑acre parcel near M‑22 corridor, Sleeping Bear Dunes, Platte Lakes, and Platte River.
    • Three new high‑cube shipping containers with double doors and a 1,500 sq ft deck.
    • Electric service and installed septic system.
    • Mix of woods and open space offering privacy and room to roam.
    • Close proximity to Beulah, Empire, Honor, and Frankfort.
    • Two shipping containers anchored to concrete pier footings approved by the building department.

    Overview

    Located off the M-22 corridor in Northern Michigan, this 10-acre parcel offers the opportunity to create a private retreat, full-time residence, or investment property. The land is located minutes from Sleeping Bear Dunes, Platte Lakes, and the Platte River, and is close to Beulah, Empire, Honor, and Frankfort, with access to Lake Michigan’s shoreline. The property features a mix of woods and open space. On site are three new high-cube shipping containers with double doors on each end, two of which are anchored to concrete pier footings approved by the building department and up to code. A 1,500 sq ft deck spans between the containers. The property also includes electric service and an installed septic system.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Honor
    County
    Benzie
    State
    Michigan
    Longitude
    -86.037881
    Latitude
    44.717231

    Nearby Similar for Sale

    • $750,000
      3,715 SF

      Charming Cabin Resort Near Platte River

      8-unit cabin resort near Sleeping Bear Dunes National Lakeshore.
      11481 Main Street, Honor, MI 49640
      View Details
    • $425,000
      3,018 SF

      Commercial Property in Honor, Michigan

      Commercial property for sale in Honor, Michigan, Benzie County.
      2191 Valley Road, Honor, MI 49640
      View Details
    • $250,000
      3,018 SF

      Established Generator Service Business

      Generator service business serving multiple counties, real estate not included.
      2191 Valley Road, Honor, MI 49640
      View Details
    • $750,000
      3,715 SF

      Retail Store,Recreational/Resort,Bed & Breakfast - Honor, MI

      Income-producing cabin resort near Sleeping Bear Dunes and Traverse City.
      11481 Main St, Honor, MI 49640
      View Details
    • $110,000

      Honor, MI Vacant Commercial Land

      Prime commercial land with high visibility and development potential.
      2450 N Marshall Road, Honor, MI 49640
      View Details
    • $125,000

      Wooded Parcel Near Platte Lakes

      Wooded land near lakes, ideal for cabin or home.
      102-104 Poplar Avenue, Honor, MI 49640
      View Details
    • $115,000

      Land with Platte River Frontage

      3.2 acres with 150' Platte River frontage.
      000 PIONEER ROAD, HOMESTEAD TWP, MI 49640
      View Details
    • $2,299,200
      10,640 SF

      New Dollar General Investment Opportunity

      New Dollar General in Honor, MI with long-term NNN lease.
      2463 N Marshall Rd, Honor, MI 49640
      View Details
    • $115,000

      Platte River Frontage Land

      3.2 acres with 150' Platte River frontage.
      000 PIONEER ROAD, HONOR, MI 49640
      View Details
    • $44,900

      Land with Stunning Views

      0.87-acre lot ready to build with approved perc test.
      000 Scenic Dr, HomesteadTownship_Benzie, MI 49640
      View Details
    • $750,000
      5,000 SF

      Turnkey Cabin Resort Near Sleeping Bear

      Northern Michigan cabin resort with immediate income potential near Sleeping Bear.
      11481 Main St, Honor, MI 49640
      View Details
    • $149,900
      1,379 SF

      Versatile Village Property in Honor

      Updated property suitable for business or residential use.
      11516 Main St, Honor, MI 49640
      View Details

    FAQs

    What type of property is this?
    Land - 10-acre parcel near Sleeping Bear Dunes with improvements.
    Where is this land located?
    The property is located at 5896 Indian Hill Road Honor, MI.
    What is the asking price?
    The asking price for this property is $274,989.
    What are key features of this property?
    This property features: 10‑acre parcel near M‑22 corridor, Sleeping Bear Dunes, Platte Lakes, and Platte River.; Three new high‑cube shipping containers with double doors and a 1,500 sq ft deck.; Electric service and installed septic system.
    (616) 826-5933
    We can help!
    Listing Contact
    Brooks Wilcox
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    5896 Indian Hill Road, Honor, MI 49640
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!