Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Double Lot Near Houghton Lake Title is generated by Realmo AI

    Carman Avenue lot 122, Houghton Lake, MI 48629

    View on Map
    Claim this Listing
    New
    For Sale
    $59,900

    LAND - Houghton Lake, MI

    Added:
    May 15, 2026
    Days on Market:
    7
    Last Refresh:
    May 21 at 11:06 am

    Property Features for Carman Avenue lot 122

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    011-431-122-0000

    Taxes and HOA fees

    Tax Description
    224L-683 P-329 LOTS 122 & 123 1ST ADD TO HOUGHTON LAKE PARK

    Utilities

    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Greg Robinson
    Greg Robinson

    Listing agent Greg Robinson License #6501416577,PersonLicenseNumber

    Listing office NextHome Up North 4772 W Houghton Lake Dr, Prudenville, MI

    Listing date May 15, 2026

    MLS# 201840070 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

    This double lot offers shared access to Houghton Lake and is suitable for a future home, cabin, or recreational retreat. The property provides space and flexibility, with room to build and park recreational vehicles. Houghton Lake, the largest inland lake in Michigan, is known for boating, fishing, swimming, and year-round outdoor activities. This property is located in Houghton Lake, Michigan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.77734
    Latitude
    44.328329

    Nearby Similar for Sale

    • $425,000
      1,120 SF

      Houghton Lake Commercial Property For Sale

      Prime commercial property on M-55, ideal for automotive service.
      3044 W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $149,900
      3,744 SF

      Versatile Commercial Property on Main Thoroughfare

      Live, work, and invest in one convenient Houghton Lake location.
      6415 W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $149,900
      3,744 SF

      Versatile Commercial Property, Houghton Lake

      Live and work in one convenient Houghton Lake location.
      6415 W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $325,000

      Commercial Acreage on Highway M-55

      Prime commercial land near US 127 and Highway M-55.
      5 AC W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $299,900
      10,180 SF

      Hardware Store on M-55

      Established hardware store with excellent visibility and ample space for sale.
      6231 W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $550,000
      2,680 SF

      Renovated Houghton Lake Multi-Family Property

      Updated property with lake views, rental income potential, and pole barn.
      5257/5259 W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $325,000

      Commercial Acreage on Highway M-55

      Prime commercial land near major highway and businesses.
      XXX W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $250,000
      1,890 SF

      Houghton Lake Commercial Opportunity

      Commercial property with established HVAC business for sale in Houghton Lake.
      317 Cherry Street, Houghton Lake, MI 48629
      View Details
    • $319,900
      2,680 SF

      Houghton Lake Commercial Building

      Commercial building with operatory rooms, ideal for medical or office use.
      9252 W Lake City Road, Houghton Lake, MI 48629
      View Details
    • $150,000

      Prime Commercial Acreage on M-55

      Commercial land with high visibility on M-55 corner location.
      5 AC W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $150,000

      Commercial Land on M-55 Highway

      5-acre commercial land with high visibility on M-55.
      Xxx W Houghton Lake Drive, Houghton Lake, MI 48629
      View Details
    • $1,199,000

      Unique Property with Houghton Lake Views

      Luxury property with rental potential and Houghton Lake views.
      5783 West Houghton Lake Drive, Houghton Lake, MI 48629
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Double lot with shared access to Houghton Lake.
    Where is this residential land & home lot located?
    The property is located at Carman Avenue lot 122 Houghton Lake, MI.
    What is the asking price?
    The asking price for this property is $59,900.
    (517) 202-9894
    We can help!
    Listing Contact
    Greg Robinson
    Greg Robinson
    Real Estate License ID: 6501416577,PersonLicenseNumber
    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
    Carman Avenue lot: 122, Houghton Lake, MI 48629
    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!