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

    8503 S US-31 Highway Alanson, MI 49706

    View on Map
    For Sale
    $139,000

    COMMERCIAL - Alanson, MI

    Added:
    Jul 22, 2025
    Days on Market:
    254
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 8503 S US-31 Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    commercial
    Standard status
    Active
    APN
    07-17-16-400-023

    Taxes and HOA fees

    TaxDescription
    N'LY 1/4 OD ALL THAT PT OF N 1/2 OF SE 1/4 OF SEC...

    We can help!

    Listing Contact
    Linda Sue Jakeway
    Linda Sue Jakeway

    Listing agent Linda Sue Jakeway License #6506045142

    Listing office COLDWELL BANKER SCHMIDT INDIAN RIVER 3970 S Straits Highway P.O. Box 631, Indian River, MI

    Listing date Jul 22, 2025

    MLS# 201836022

    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

    Commercial Land Near Inland Waterway

    This commercial land parcel is located on a major throughway accessible from I-75 or US31 N, offering significant exposure. The property is situated close to the Inland Waterway, Petoskey, Harbor Springs, ski hills, snowmobile trails, and golf courses. This location presents opportunities for businesses catering to recreational repairs and storage. Adjacent to conservancy property that adjoins Crooked Lake, the site benefits from its proximity to natural amenities. The property is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Alanson
    County
    Emmet
    State
    Michigan
    Longitude
    -84.797809
    Latitude
    45.427933

    Nearby Similar for Sale

    • $139,000

      Land Near Recreational Areas

      1.15 acre commercial land parcel near Alanson, Michigan.
      8503 US 31, ALANSON, MI 49706
      View Details
    • $825,000

      70 Acres Prime Michigan Land

      Undeveloped 70-acre land parcel suited for residential development or private estate.
      8688 Miller Rd, Alanson, MI 49706
      View Details
    • $22,500

      Land for Northern Michigan Home

      Vacant land near Pickerel and Crooked Lake with electric.
      6436 Lora Bette Drive, Alanson, MI 49706
      View Details
    • $22,500

      Land for Northern Michigan Home

      Vacant lot near Pickerel and Crooked Lake with electric.
      6412 Lora Bette Drive, Alanson, MI 49706
      View Details
    • $567,000
      2,065 SF

      Established Winery and Brewery Destination

      Winery and brewery on 2.5 acres near Burt Lake.
      9090 M-68, Alanson, MI 49706
      View Details
    • $29,900

      Residential Land in Alanson, MI

      Tranquil 1.9-acre lot near Petoskey, Harbor Springs, and I-75.
      8118 MILLER RD. LOT 19, ALANSON, MI 49706
      View Details
    • $475,000

      Commercial Land on Crooked River

      Commercial property with boat slips and gas pump on waterway.
      6320 & 6332 River, Alanson, MI 49706
      View Details
    • $35,000

      Land with Panoramic Views

      Land with views of Eagle Beach and walking access to lake.
      UNIT 51 SUNSET BOULEVARD, ALANSON, MI 49706
      View Details
    • $30,000

      Wooded Land Near Crooked Lake

      Two wooded building sites near Petoskey, Harbor Springs, and Indian River.
      TBD MAPLE ISLE COURT UNITS 33 &AMP 34, ALANSON, MI 49706
      View Details
    • $16,500

      Wooded Land Near Crooked Lake

      Building site near Petoskey, Harbor Springs, and Indian River.
      TBD MAPLE ISLE COURT UNIT 34, ALANSON, MI 49706
      View Details
    • $145,000

      Bakers Acres Subdivision Land Opportunity

      Nine 1+ acre lots with utilities near Alanson, Petoskey.
      TBD MILLER, Alanson, MI 49706
      View Details
    • $24,900

      Residential Land in Alanson, MI

      1.3-acre residential land for sale in Alanson, Michigan.
      8139 BLUEBIRD LOT 17, ALANSON, MI 49706
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with high exposure near recreational areas and Crooked Lake.
    Where is this commercial land located?
    The property is located at 8503 S US-31 Highway Alanson, MI.
    What is the asking price?
    The asking price for this property is $139,000.
    What are key features of this property?
    This property features: High‑exposure location on a major throughway from I‑75 or US31 N.; Close proximity to the Inland Waterway, Petoskey, and Harbor Springs.; Opportunity to service clients with recreational repairs and storage.
    (231) 373-0233
    We can help!
    Listing Contact
    Linda Sue Jakeway
    Linda Sue Jakeway
    Real Estate License ID: 6506045142
    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!