Houghton Lake Waterfront Commercial
8848 State Avenue Houghton Lake, MI 48629
8848 State Avenue, Houghton Lake, MI, 48629
$425,000
For Sale
$425,000
COMMERCIAL - Houghton Lake, MI
Property Size2,880 SF
Lot Size0.32 Acres
Price / SF$147.57
Days on Market63
Property Features for 8848 State Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- C-W
- Parking features
- Parking Lot
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 006-120-010-1000
- Size
- 2,880 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- 1111/1533 1111/1532 970/1799 L951/P2607 L833/P6 L383/P502 234 LOTS 10, 11 & 12 BEBEE SUBD SPLIT/COMBINED ON 11/22/2019 FROM 006-120-010-0000, 006-120-011-0000;
- Tax Annual Amount
- 3706
Utilities
- Water source
- Well
- Water front
- 1
Building Details
- Floors in Building
- 1
Listing agency
KW Northern Michigan Team Partners
(989) 745-8992
Listed by
Laura Corpe · License #6501426430
(989) 387-8067
Added: May 22 Checked: Jul 23 at 11:06AM
MLS# 201840270
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.
Investment Insights
Based on property information with market context.
The iconic Navajo Trading Post in Houghton Lake is available. This unique commercial/residential waterfront property is located on the southwest side of Houghton Lake and offers potential for investors, entrepreneurs, or those looking to live and work in one location. Zoned commercial waterfront, the property features 138 feet of canal frontage with direct access to Houghton Lake. All five boat slips are currently rented for the season. As one of the oldest buildings in Houghton Lake, this spacious 2,880 square-foot property offers flexibility for commercial opportunities. Permitted uses include motels, retail shops, restaurants, and single-family dwellings. Special exception uses may include condominiums, microbreweries, and marinas. The rear portion of the building is currently utilized as residential living quarters and storage space, creating an opportunity for an owner-operator setup. The property is located in Houghton Lake, MI 48629, Roscommon County, on a lot of 0.32 acres.
Key Highlights
- 138 feet of canal frontage with direct access to Houghton Lake
- Zoned commercial waterfront offering versatile possibilities like motels, retail shops, restaurants, and single‑family dwellings
- Existing commercial gift store in operation
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.6k | $12.00 |
| − Vacancy | −$4.8k | −$1.66 |
| EGI | $29.8k | $10.34 |
| − OpEx | −$8.9k | −$3.10 |
| NOI | $20.9k | $7.24 |
2,880 SF · lease $12.00/SF/yr · vacancy 13.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$297.9K
$260.7K – $347.6K
NOI $20,854 @ 7.0% cap · market cap 4.91%
Second Best
Hotel Hospitality
$219.9K
$192.4K – $256.5K
NOI $15,390 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$474.0K
$414.7K – $553.0K
NOI $33,178 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Iconic commercial/residential property with waterfront access and endless potential.
Where is this retail space located?
The property is located at 8848 State Avenue Houghton Lake, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 138 feet of canal frontage with direct access to Houghton Lake; Zoned commercial waterfront offering versatile possibilities like motels, retail shops, restaurants, and single‑family dwellings; Existing commercial gift store in operation
