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

    E Norwood Court W Presque Isle, MI 49777

    View on Map
    For Sale
    Contact for pricing

    LAND - Presque Isle, MI

    Lot size:
    0.36 Acres
    Added:
    Mar 23, 2026
    Days on Market:
    10
    Last Refresh:
    Apr 1 at 6:06 pm

    Property Features for E Norwood Court W

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    122-200-000-130-00
    Lot size
    0.36 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    LOT 130 NORTH BAY HEIGHTS SUBD SEC 18 T34N R8E
    TaxAnnualAmount
    20

    Utilities

    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Tammy Lehman
    Tammy Lehman

    Listing agent Tammy Lehman License #6502383716

    Listing office Lehman & Scheffler Real Estate 114 S Main Street Suite 300, Chelsea, MI

    Listing date Mar 23, 2026

    MLS# 26011310

    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

    Presque Isle Wooded Building Site

    This 0.36-acre wooded building site is located in Presque Isle, MI, and offers an opportunity to become part of the Presque Isle Harbor Association. The property is situated near the clubhouse, which features resort-style amenities including a pool, spa, gym, fitness room, and tennis courts. Membership in the Presque Isle Harbor Association provides access to beach houses on Grand Lake and Lake Huron, beaches, and gated Lake Huron acreage. Additional amenities include a private park on Lake Esau, hiking trails, and a members-only private campground. Annual association dues are $313, plus a pool assessment to be assumed by the buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Presque Isle
    County
    Presque Isle
    State
    Michigan
    Longitude
    -83.508054
    Latitude
    45.337002

    Nearby Similar for Sale

    • $1,500

      Wooded Lot Near Presque Isle

      Private wooded lot with association amenities near multiple lakes.
      Clear Water Drive lot: 57, Presque Isle, MI 49777
      View Details
    • $7,000

      Wooded Lots Near Presque Isle

      Private wooded double lot with association amenities near multiple lakes.
      L 130-131 Laurelhill Circle lot: 130-131, Presque Isle, MI 49777
      View Details
    • $4,000

      Presque Isle Wooded Lot

      Wooded lot near beaches, lakes, and recreational facilities.
      Timberway Court lot: 233, Presque Isle, MI 49777
      View Details
    • $974,900
      3,879 SF

      Waterfront Marina Opportunity in Presque Isle

      Established marina with lake frontage and expansion potential in Michigan.
      15279 US-23 S, Presque Isle, MI 49777
      View Details
    • $19,000

      Presque Isle Wooded Quadruple Lot

      Wooded lot near Grand Lake with association access.
      L 166-169 Northland Heights Drive lot: 166-169, Presque Isle, MI 49777
      View Details
    • $3,200

      Wooded Lot in Presque Isle

      Private wooded lot with association amenities near multiple lakes.
      Pineview Drive lot: 148, Presque Isle, MI 49777
      View Details
    • $4,500

      Presque Isle Wooded Lot

      Wooded lot with association amenities near Presque Isle Harbor.
      Belfair Drive lot: 52, Presque Isle, MI 49777
      View Details
    • $6,000

      Presque Isle Wooded Lot

      Wooded lot with association amenities near multiple lakes.
      L 275-276 Lakehurst Drive lot: 275 & 276, Presque Isle, MI 49777
      View Details
    • $5,500

      Wooded Lots in Presque Isle

      Double lot with association amenities near Presque Isle Harbor.
      Belfair Drive lot: 62-63, Presque Isle, MI 49777
      View Details
    • $4,500

      Wooded Lot Near Lake Huron

      Private wooded lot with association amenities near multiple lakes.
      Lakewood Drive lot: 201, Presque Isle, MI 49777
      View Details
    • $9,000

      Wooded Lots Near Lake Huron

      Two wooded lots near beaches, lakes, and recreational facilities.
      Wilderness Circle lot: 55-56, Presque Isle, MI 49777
      View Details
    • $1,500

      Wooded Lot Near Lake Huron

      Wooded lot with access to multiple lakes and clubhouse.
      Wilderness Drive lot: 165, Presque Isle, MI 49777
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Wooded building site near resort-style amenities in Presque Isle, MI.
    Where is this residential land & home lot located?
    The property is located at E Norwood Court W Presque Isle, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Exclusive access to beach houses on Grand Lake and Lake Huron; Resort‑style amenities at the clubhouse: pool, spa, gym, fitness room, and tennis courts; Membership in the highly sought‑after Presque Isle Harbor Association
    (734) 320-0959
    We can help!
    Listing Contact
    Tammy Lehman
    Tammy Lehman
    Real Estate License ID: 6502383716
    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!