Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8683 Heron Court Watervliet, MI 49098

    View on Map
    For Sale
    $75,000

    LAND - Watervliet, MI

    Lot size:
    0.24 Acres
    Added:
    Jun 5, 2025
    Days on Market:
    301
    Last Refresh:
    Apr 1 at 5:06 am

    Property Features for 8683 Heron Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    11-21-5100-0029-00-0
    Lot size
    0.24 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    UNIT 29 NATURE'S COVE LIBER 183 PAGE 1
    TaxAnnualAmount
    1739

    Utilities

    Utilities
    Phone Available
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Bryon Farmer

    Listing agent Bryon Farmer License #6501933715

    Listing office Coldwell Banker Anchor R.E. 4891 Wil-O-Paw Dr., St. Joseph, MI

    Listing date Jun 5, 2025

    MLS# 25026736

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land in Gated Community

    This 0.24-acre land is located within Nature's Cove, a gated community on Paw Paw Lake in Watervliet, Michigan. The community features a spacious pool and clubhouse. The cabana includes large-screen TVs, seating areas, and a kitchen suitable for gatherings. Residents have access to a permanent pier for boating and lake activities. Local builders are available for consultation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Hotel & Motel Kitchen & Bath Showroom Garden Center (Bike/Boat/Book/etc) Store Bed & Breakfast Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Watervliet
    County
    Berrien
    State
    Michigan
    Longitude
    -86.248066
    Latitude
    42.219086

    Nearby Similar for Sale

    • $495,500
      4,200 SF

      Watervliet Commercial Auto Shop

      Established auto shop with loyal customer base and equipment.
      233 m140 M-140, Watervliet, MI 49098
      View Details
    • $249,500
      1,680 SF

      Main Street Retail/Office Opportunity

      Retail/office space with living quarters in high-traffic area.
      4875 N Watervliet Road, Watervliet, MI 49098
      View Details
    • $225,000

      Watervliet Land Parcel For Sale

      13-acre land parcel in the heart of Watervliet, Michigan.
      N Main Street, Watervliet, MI 49098
      View Details
    • $197,900

      Buildable Lot Overlooking Golf Course

      Half-acre lot with lake access and golf course views.
      4862 Knoll Court, Watervliet, MI 49098
      View Details
    • $259,000

      Watervliet Land with Lake Access

      Buildable lot with golf course frontage and lake access.
      4874 Knoll Court, Watervliet, MI 49098
      View Details
    • $810,000

      36.83 Acre Income Opportunity Estate

      Estate with rental homes, cherry trees, and wine-producing vineyards.
      1980 Angling Road, Watervliet, MI 49098
      View Details
    • $67,500

      Cleared Lot in Gated Community

      Ready-to-build lot with lake access and community amenities.
      5967 Osprey Lane, Watervliet, MI 49098
      View Details
    • $43,500

      Residential Lot in Deerwood Estates

      1.1 acre lot in private subdivision, build your dream home.
      21 Harlan Drive, Watervliet, MI 49098
      View Details
    • $38,900

      Residential Lot in Deerwood Estates

      1 acre lot in private condo development, build your dream home.
      1 Harlan Drive, Watervliet, MI 49098
      View Details
    • $24,500

      Watervliet Land Opportunity

      Vacant land parcel in Watervliet, Michigan, ideal for development.
      Red Arrow Highway, Watervliet, MI 49098
      View Details
    • $94,950
      800 SF

      Retail Property with Tenant in Place

      Retail property for sale, tenant occupied through May 2025.
      7879 Red Arrow Highway, Watervliet, MI 49098
      View Details
    • $39,900

      Watervliet Land Near Paw Paw Lake

      Two lots near Paw Paw Lake, ideal for building a home.
      915 & 927 Western Avenue, Watervliet, MI 49098
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land in a gated community with lake access.
    Where is this residential land & home lot located?
    The property is located at 8683 Heron Court Watervliet, MI.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Waterfront (lake) property in a gated community on Paw Paw Lake.; Enjoy access to a permanent pier on the lake.; Spacious pool and clubhouse offer great amenities.
    (312) 493-4795
    We can help!
    Listing Contact
    Bryon Farmer
    Real Estate License ID: 6501933715
    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!