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    Hardware Store on M-55 Title is generated by Realmo AI

    6231 W Houghton Lake Drive, Houghton Lake, MI 48629

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    Claim this Listing
    For Sale
    $299,900

    COMMERCIAL - Houghton Lake, MI

    Type:Retail
    Property size:
    10,180 SF
    Lot size:
    1.01 Acres
    Price / SF:
    $29/SF
    Added:
    Oct 2, 2025
    Days on Market:
    224
    Last Refresh:
    May 13 at 7:06 am

    Property Features for 6231 W Houghton Lake Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Commercial
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    011-211-013-0430
    Size
    10,180 SF
    Lot size
    1.01 Acres

    Taxes and HOA fees

    Tax Description
    L-357 P-219 224 COM AT NW COR OF GOVT LOT 3 TH S 58' E 1071 FT TH S 89 DEG 13' E 633.5 FT TH S 58' E 125 FT FOR POB TH S 58' E 113 FT TO CO ROAD TH S 89 DEG E 358.5 FT TO W LINE OF M-55 TH NW'LY ALONG HWY 138.1 FT TH N 89 DEG 13' W 283.7 FT TO POB BEING PART OF LOT 3 SEC 11 T22N R4W. .82 A.

    Utilities

    Water source
    Well

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Midge Rutter
    Midge Rutter

    Listing agent Midge Rutter License #6502393939

    Listing office Midge & Co-Luxury Lakefront Homes 3540 W Houghton Lake Drive, Houghton Lake, MI

    Listing date Oct 2, 2025

    MLS# 201837405

    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

    • Well‑established hardware store business opportunity in a central location on M‑55.
    • Excellent visibility and ample space suitable for various business ventures.
    • Owners committed to training new owner for a smooth transition.
    • Includes a spacious 32 x 76 barn for ample storage.
    • Equipment list provided.
    • Inventory available for purchase separately.

    Overview

    An established hardware store is available in the Houghton Lake area. The property is centrally located on M-55, offering excellent visibility and ample space. It is suited for continuing the existing hardware business or exploring a combination of ventures. The property includes a spacious 32 x 76 barn, providing storage. The lot size is 1.01 acres. The property size is 10180 square feet. The current owners are retiring and are committed to training the new owner to ensure a smooth transition. An equipment list is attached, and inventory will be available for purchase separately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wild's True Value ... Building Supply

    Suggested Use

    Restaurant Real Estate Agency Building Supply Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store Hotel & Motel Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.760499
    Latitude
    44.309472

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    FAQs

    What type of property is this?
    Storefront property - Established hardware store with excellent visibility and ample space for sale.
    Where is this storefront property located?
    The property is located at 6231 W Houghton Lake Drive Houghton Lake, MI.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Well‑established hardware store business opportunity in a central location on M‑55.; Excellent visibility and ample space suitable for various business ventures.; Owners committed to training new owner for a smooth transition.
    (989) 302-1219
    We can help!
    Listing Contact
    Midge Rutter
    Midge Rutter
    Real Estate License ID: 6502393939
    Learn More
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    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.

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