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

    5989 Ballard Street, Wolverine, MI 49799

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Wolverine, MI

    Added:
    Aug 29, 2025
    Days on Market:
    278
    Last Refresh:
    Jun 2 at 3:06 am

    Property Features for 5989 Ballard Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    253-G05-011-011-00

    Taxes and HOA fees

    Tax Description
    MAP OF GEO D RICHARDS FIRST ADDITION TO WOLVERINE, LOT 11, BLK 11. (SEC 7, T33N,R2W) 796/641

    We can help!

    Listing Contact
    Sarah Harding

    Listing agent Sarah Harding

    Listing office Real Broker LLC - Petoskey 228 E Mitchell St., Petoskey, MI

    Listing date Aug 29, 2025

    MLS# 201836826 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.

    HighLights

    • Vacant lot ready for building your dream home.
    • Located in the Village of Wolverine.
    • Short walk to school and library.
    • Ideal for a future home or getaway.
    • Peaceful and quiet village setting.
    • Northern Michigan location.

    Overview

    This vacant lot is situated in the heart of the Village of Wolverine, Michigan, offering a small-town atmosphere within a Northern Michigan environment. The property is located within walking distance of the local school and library. This lot is suitable for constructing a future home or a getaway residence. The surrounding area provides a peaceful environment within a quiet village.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Dental Office Auto Repair Shop Food Market Grocery & Convenience Store Bar & Pub Garden Center Daycare Center (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wolverine
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.609881
    Latitude
    45.272008

    Nearby Similar for Sale

    • $179,900

      Sturgeon River Waterfront Land

      2.7-acre parcel with 170+ feet of Sturgeon River frontage.
      B & C S Straits Highway, Wolverine, MI 49799
      View Details
    • $139,900

      Sturgeon River Waterfront Land Parcel

      1.4-acre waterfront lot on the Sturgeon River.
      8993 S Straits Highway, Wolverine, MI 49799
      View Details
    • $129,900

      Waterfront Land on Wildwood Lake

      One-acre waterfront property with 84 feet of frontage.
      L 100-101 High Pine Court lot: 100 & 101, Wolverine, MI 49799
      View Details
    • $135,000

      Wildwood Lake Waterfront Land

      One-acre waterfront property on Wildwood Lake in Wolverine, Michigan.
      3472 High Pine Court, Wolverine, MI 49799
      View Details
    • $175,000

      Wildwood Lake Land Opportunity

      Land with lake frontage, carport, and garage near Wolverine.
      15202 Lakeview Drive, Wolverine, MI 49799
      View Details
    • $574,000

      Updated Commercial Building in Wolverine

      Five-unit commercial building in downtown Wolverine with excellent rental income.
      12909 S Straits Highway, Wolverine, MI 49799
      View Details
    • $54,000
      960 SF

      Land with New Storage Building

      Land with new storage building near trails and Wildwood Lake.
      16271 Timberline Drive lot: 100, Wolverine, MI 49799
      View Details
    • $138,000

      Waterfront Land in Wolverine, Michigan

      Wooded 1.34-acre parcel with 107' frontage on Wildwood Lake.
      15472 Lakeview Drive lot: 214 & 215, Wolverine, MI 49799
      View Details
    • $9,950

      Recreational Land Near Wildwood Lake

      Land parcel near recreation, trails, and Wolverine Golf Course.
      15217 Lakeview Dr, WolverineVillage_Cheboygan, MI 49799
      View Details
    • $37,000

      Waterfront Land on Echo Lake

      Private waterfront parcel on a peaceful non-motorized lake.
      14453 W Shoreline Drive, Wolverine, MI 49799
      View Details
    • $8,900

      Wooded Land Near Wildwood Lake

      Wooded parcel with private access to all-sports Wildwood Lake.
      Lance Lake Road lot: 58, Wolverine, MI 49799
      View Details
    • $275,000

      WOLVERINE, MI Hunting Land

      18 acres of mature woods with Sturgeon River frontage.
      V/L 18 ACR TROWBRIDGE, WOLVERINE, MI 49799
      View Details

    FAQs

    What type of property is this?
    Land - Vacant lot in a charming Northern Michigan village setting.
    Where is this land located?
    The property is located at 5989 Ballard Street Wolverine, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant lot ready for building your dream home.; Located in the Village of Wolverine.; Short walk to school and library.
    (989) 858-9249
    We can help!
    Listing Contact
    Sarah Harding
    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
    5989 Ballard Street, Wolverine, MI 49799
    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!