Add Listing
    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

    715 Indian Trail Cheboygan, MI 49721

    View on Map
    Claim this Listing
    New
    For Sale
    $70,400

    LAND - Cheboygan, MI

    Property size:
    5,000 SF
    Added:
    Apr 21, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 23 at 11:06 am

    Property Features for 715 Indian Trail

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    291-021-100-012 99 & 291 021 100 012 100
    Size
    5,000 SF

    Taxes and HOA fees

    Tax Description
    Cheboygan Drydocks A Site Condominium

    We can help!

    Listing Contact
    David E Felker

    Listing agent David E Felker License #6502407880

    Listing office Land, Rivers & Lakes LLC 5166 Villas Ave, Royal Oak, MI

    Listing date Apr 21, 2026

    MLS# 201839542 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.

    Overview

    Cheboygan Land for Sale

    This property presents an opportunity due to the limited availability of storage buildings for sale or rent. Located 5 miles south of Cheboygan and 5 minutes from the west sides of Burt and Mullett, the site features top-quality metal and wood construction with asphalt shingles and 5-inch concrete floors. Each unit is equipped with electric and water, roll-up doors with power openers, and separate entry doors. A common bathroom and dumpster are provided. Snow removal and lawn care are included. The development is a site-condo, ensuring reasonable restrictions for all. Drive-through units are an option. The property allows for 190 units in total, with sizes ranging from 800 to 5000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Kitchen & Bath Showroom Storage Facility Bar & Pub Garden Center Electrical Service Daycare Center Plumbing Service Catering Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheboygan
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.506742
    Latitude
    45.584546

    Nearby Similar for Sale

    • $895,000

      Versatile Commercial Building on High-Traffic Corner

      Commercial building with flexible layout and high visibility on M-33.
      9750 N Straits Highway, Cheboygan, MI 49721
      View Details
    • $475,000

      Cheboygan Commercial Property on 25+ Acres

      Commercial property with office, storage, garage, outbuildings, and home.
      1985 E Levering, Cheboygan, MI 49721
      View Details
    • $310,000

      Cheboygan Storage Building For Sale

      5000 sq.ft. storage building near Burt & Mullet lakes.
      715 Indian Trail, Cheboygan, MI 49721
      View Details
    • $799,900
      16,200 SF

      Versatile Commercial Building in Cheboygan

      Large commercial building with office, showroom, and storage space.
      9445 N Straits Highway, Cheboygan, MI 49721
      View Details
    • $14,500

      Marina Slip Near Mackinac Island

      40ft marina slip with amenities and waterway access.
      138 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $17,000

      Cheboygan Boat Slip For Sale

      Premier 40' boat slip at Duncan Bay Boat Club.
      902 Boat Club Drive, Cheboygan, MI 49721
      View Details
    • $138,600

      Drive-Thru Storage Units Available

      Two drive-thru storage units near Burt & Mullett lakes.
      715 Indian Trail Road, Cheboygan, MI 49721
      View Details
    • $22,500

      60ft Boat Slip in Cheboygan

      60ft boat slip in Duncan Bay Boat Club for sale.
      27 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $18,000

      40ft Boat Slip in Cheboygan

      40ft boat slip with amenities in Duncan Bay Boat Club.
      90 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $15,000

      40ft Boat Slip in Cheboygan

      40ft boat slip with amenities in Duncan Bay Boat Club.
      115 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details
    • $799,000

      Versatile Industrial Buildings on Large Lot

      Two new industrial buildings on nearly 10 acres in Cheboygan.
      399 Myrton M Riggs Drive, Cheboygan, MI 49721
      View Details
    • $15,000

      40ft Boat Slip in Cheboygan

      40ft boat slip with amenities in Duncan Bay Boat Club.
      162 BOAT CLUB DRIVE, CHEBOYGAN, MI 49721
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Land with potential for storage unit development near Burt & Mullett.
    Where is this self storage facility located?
    The property is located at 715 Indian Trail Cheboygan, MI.
    What is the asking price?
    The asking price for this property is $70,400.
    What are key features of this property?
    This property features: Rare opportunity: Storage buildings for sale are scarce.; High‑quality metal/wood construction with asphalt shingles and **5'' concrete floors.**; **Electric and water available in each unit.**
    (231) 649-3667
    We can help!
    Listing Contact
    David E Felker
    Real Estate License ID: 6502407880
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!