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    Tbd 10.6 Ac Us 2 Crystal Falls, MI 49920

    Sponsored
    For Sale
    $549,900

    5 or More Units - Crystal Falls, MI

    Property size:
    5,250 SF
    Lot size:
    10.60 Acres
    Days on Market:
    69
    Last Refresh:
    Jan 28 at 5:06 pm

    Property Features for Tbd 10.6 Ac Us 2

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    Multi-Family,Commercial
    APN
    002-275-025-50
    Interior features
    110 Volt Power, 220 Volt Power, Internet Available, Electric Available, Gas Available, Living Quarters, Living Quarters Detached, Occupied, Outbuilding(s), Outside Storage, Underground Utilities
    Exterior features
    Outside Storage
    Size
    5,250 SF
    Lot size
    10.60 Acres

    Utilities

    Utilities
    Electricity Available

    Building Details

    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    KYLE DUNCAN

    RE/MAX North Country (906) 875-6331

    Listing agent KYLE DUNCAN (877) 875-6331 License #6501456284

    Listing date Nov 21, 2025

    MLS# 50194846 Listing URL

    Copyright © 2026 Upper Peninsula Association 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.

    Learn more

    Property Insight Report

    Overview

    Crystal Falls Mobile Home Park

    This almost 11-acre mobile home park in Crystal Falls, MI, presents an investment opportunity with existing stabilized cash flow and expansion potential. The property includes 5 park-owned homes (POH) of varying years and 4 tenant-owned homes (TOH). The park is currently priced at an 11.49% cap rate. Infrastructure is in place to expand to upwards of 25+ total rentable lots. The property also includes a 350' width of commercially zoned land on US 2. The park has seen several updates throughout the last few years including major water line repairs & electrical updates. Township utilities supply trash pickup, water & sewer. DTE provides natural gas, and all units are individually metered. The water meter is split, but all units have individual shutoffs for service. There are currently 4 lots ready for homes to be placed. There are a total of 13 rentable lots. The POH homes either are affixed to the property or include titles with the sale. Model years are 2x 2024, 2x 1990s, 1x 1970s. All of the older mobile homes have seen total rehabs in the last 2-3 years, including new floors, new insulation, new drywall, new paint, new roof(s), and new windows. All park-owned homes have existing leases in place. All tenant-owned homes are either under lease or month to month. Average lot rent is $300. A 20x30 garage with power is located in the southern middle of the property. The property is zoned Multi-Family and Commercial. The property size is 5250 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Crystal Falls
    County
    Iron
    State
    Michigan
    Longitude
    -88.367697757549
    Latitude
    46.092700306735

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    FAQs

    What type of property is this?
    Mobile home & RV park - Mobile home park with expansion potential and commercial land.
    Where is this mobile home & rv park located?
    The property is located at Tbd 10.6 Ac Us 2 Crystal Falls, MI.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: - Attractive 11.49% Cap Rate: Provides strong stabilized cash flow.; - Expansion Potential: Ability to expand to 25+ rentable lots.; - Commercially Zoned Land: Includes 350' width of commercially zoned land on US 2 for development.
    (612) 296-4804
    Request Owner's contact information
    Tbd 10.6 Ac Us 2 Crystal Falls, MI 49920
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    Crystal Falls, MI 49920
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    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
    Tbd 10.6 Ac Us 2 Crystal Falls, MI 49920
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    We can help!
    Listing Contact
    KYLE DUNCAN
    Real Estate License ID: 6501456284
    (612) 296-4804
    Learn more
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