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

    unit 7 Old Trail, Frankfort, MI 49635

    View on Map
    Claim this Listing
    For Sale
    $149,000

    Vacant Lot/Land - Frankfort, MI

    Lot size:
    0.95 Acres
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    May 22 at 11:06 am

    Property Features for unit 7 Old Trail

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential,Site Condominium
    Exterior features
    Common Area, Will Build To Suit
    Standard status
    Active
    Lot size
    0.95 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1250
    Expense value
    240
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Abby Beale

    Listing agent Abby Beale

    Listing office Five Star Real Estate - Front St TC 807 W. Front Street, Traverse City, MI

    Listing date Mar 6, 2026

    MLS# 1942762 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

    • Last lot available in the neighborhood.
    • Wooded and hilly lot, suitable for a walkout basement.
    • Located close to Benzie County and Sleeping Bear National Park attractions (wineries, hiking, swimming).
    • Part of an award‑winning Durango Homes built neighborhood.
    • Underground utilities: cable, natural gas, and electric.
    • Will Build To Suit

    Overview

    This 0.95-acre vacant lot is located in Frankfort, Michigan. It is one of the nicest lots in the neighborhood, featuring a wooded and hilly landscape, making it suitable for a retirement or second home. The lot is part of an award-winning neighborhood built by Durango Homes, who must be the designer and preferred builder. It is a walkout lot with underground cable, natural gas, and electric utilities available. The property is close to various attractions in Benzie County and Sleeping Bear National Park, including wineries, hiking trails, and swimming areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Hotel & Motel Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Benzie
    State
    Michigan
    Longitude
    -86.211499
    Latitude
    44.703611

    Nearby Similar for Sale

    • $519,000
      1,504 SF

      Downtown Frankfort Office Building For Sale

      Freestanding commercial building in downtown Frankfort, MI, with parking.
      408 Main Street, Frankfort, MI 49635
      View Details
    • $1,100,000
      4,033 SF

      Frankfort Motel and Home Opportunity

      Family-run motel and home near downtown and Lake Michigan.
      519 Lake Street, Frankfort, MI 49635
      View Details
    • $550,000

      Frankfort Land with Elevated Views

      11+ acres of wooded land near Frankfort, Michigan.
      Day Avenue, Frankfort, MI 49635
      View Details
    • $1,075,000

      Lake Michigan Waterfront Homesite

      1.32-acre lot with 150' frontage on Lake Michigan.
      0 Sylvan Road, Frankfort, MI 49635
      View Details
    • $185,000

      Frankfort Land Parcel For Sale

      Three acre parcel near downtown Frankfort, Michigan.
      Elm Street, Frankfort, MI 49635
      View Details
    • $610,000

      Renovated Duplex in Downtown Frankfort

      Updated duplex near Lake Michigan with rental income potential.
      706 Forest Avenue, Frankfort, MI 49635
      View Details
    • $1,100,000
      700 SF

      Frankfort Mixed-Use Commercial Lots

      Four lots in a popular vacation destination.
      903 Main Street, Frankfort, MI 49635
      View Details
    • $199,000

      10-Acre Wooded Parcel Near Frankfort

      Serene 10-acre wooded parcel near Lake Michigan and Frankfort.
      3219 Nugent Road, Frankfort, MI 49635
      View Details
    • $2,100,000

      Lake Michigan Frontage Land Parcel

      1.94-acre parcel with 112 feet of sandy Lake Michigan shoreline.
      000 Point Betsie Road, Frankfort, MI 49635
      View Details
    • $1,100,000

      Frankfort Land For Sale

      Vacant land in Frankfort, MI, zoned for mixed-use commercial.
      903 Main Street, Frankfort, MI 49635
      View Details
    • $610,000

      Renovated Duplex Near Downtown Frankfort

      Updated duplex with rental income potential near Lake Michigan.
      706 Forest Ave, Frankfort, MI 49635
      View Details
    • $180,000

      Spacious Land in Frankfort, MI

      15-acre parcel near Frankfort and Elberta with development potential.
      Airport Road, Frankfort, MI 49635
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Wooded 0.95 acre lot near Sleeping Bear National Park.
    Where is this residential land & home lot located?
    The property is located at unit 7 Old Trail Frankfort, MI.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: Last lot available in the neighborhood.; Wooded and hilly lot, suitable for a walkout basement.; Located close to Benzie County and Sleeping Bear National Park attractions (wineries, hiking, swimming).
    (231) 357-0864
    We can help!
    Listing Contact
    Abby Beale
    Real Estate License ID: 6501233207
    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
    unit 7 Old Trail, Frankfort, MI 49635
    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!