Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land with Boat Slip Access Title is generated by Realmo AI

    V/L Site 9 Cedar Springs Lane, Indian River, MI 49749

    View on Map
    Claim this Listing
    For Sale
    $89,900

    LAND - Indian River, MI

    Added:
    Dec 19, 2025
    Days on Market:
    162
    Last Refresh:
    May 30 at 9:06 am

    Property Features for V/L Site 9 Cedar Springs Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    172-C30-000-009-00

    Taxes and HOA fees

    Tax Description
    CEDAR SPRINGS CONDOMINIUM, SITE 9, ACCORDING TO MASTER DEED RECD IN 933/533-615 & AMMENDED IN 1437/717 & 1536/801. (SEC 8, T35N,R2W) SPLIT ON 02/17/2005 FROM 171-008-300-017-00 & 171-008-300-018-00 & 171-008-300-001-00. 942/872

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Walter T Ellis

    Listing agent Walter T Ellis License #6506000495

    Listing office Berkshire Hathaway Homeservices Indian River 3412 S Straits Hwy, Indian River, MI

    Listing date Dec 19, 2025

    MLS# 201838316

    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.

    HighLights

    • Includes a boat slip on the Indian River, accommodating boats up to 35 feet.
    • Over one acre in size and nicely treed.
    • Natural gas and electric available at the property line.
    • Located off Mullett Lake with access to multiple other lakes and Lake Huron.
    • Corner parcel with road frontage on three roads and close to a public boat launch.
    • Conveniently located near the Village of Indian River and I‑75 (Exit 310).

    Overview

    This property offers a building parcel with a boat slip on the Indian River, part of the Inland Waterway, accommodating boats up to 35 feet. The land, exceeding one acre, features trees and has access to natural gas and electricity. Situated near Mullett Lake, it provides access to Burt Lake, Crooked Lake, Pickerel Lake, and Lake Huron. As a corner parcel, it has road frontage on three sides and is located near a public boat launch on the Indian River. The property is approximately three miles from the Village of Indian River, offering convenient access to the I-75 Interchange at Exit 310. Additionally, it is located close to hundreds of acres of state land.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Indian River
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.584607
    Latitude
    45.434331

    Nearby Similar for Sale

    • $199,900
      1,048 SF

      Move-in Ready Commercial Office Space

      Commercial office space near recreational attractions in Indian River, MI.
      4878 S Straits Highway, Indian River, MI 49749
      View Details
    • $119,900
      1,440 SF

      Upscale Storage Condos For Sale

      Modern storage condos with customizable interior near I-75.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $189,900
      1,440 SF

      Luxury Storage and Workspace Unit

      New luxury flex unit near Indian River and Mullett Lake.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $189,900
      1,440 SF

      Luxury Flex Space Unit

      Upscale storage and workspace near Indian River and Burt Lake.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $125,000

      Prime Vacant Lot on Straits

      1. 5+ acre lot zoned for residential or commercial use.
      4732 S STRAITS HIGHWAY, INDIAN RIVER, MI 49749
      View Details
    • $285,000
      820 SF

      Commercial Property Near Burt Lake

      Commercial property within walking distance to Burt Lake.
      6308 E Dorothy Avenue, Indian River, MI 49749
      View Details
    • $210,000
      2,430 SF

      Indian River Commercial Opportunity

      Commercial property suitable for retail or repair shop in Michigan.
      4735 S Straits Highway, Indian River, MI 49749
      View Details
    • $25,000

      Wooded Acre Near Recreation

      One-acre wooded parcel near I-75 and state forest.
      5191 Onaway, Indian River, MI 49749
      View Details
    • $119,900
      1,440 SF

      Upscale Storage Condos For Sale

      Modern storage condos with customization options and convenient access.
      5384 Commerce Boulevard, Indian River, MI 49749
      View Details
    • $1,100,000
      3,088 SF

      Indian River Redevelopment Opportunity

      Highway frontage, waterfront access, and tourism-driven demand in Northern Michigan.
      6031 M-68, Indian River, MI 49749
      View Details
    • $885,000
      2,500 SF

      Established Indian River Chocolate Shop

      Profitable fudge, chocolate, and ice cream shop for sale.
      3676 S Straits Highway, Indian River, MI 49749
      View Details
    • $349,900
      4,160 SF

      Indian River Commercial Building For Sale

      Commercial building suitable for storage or business in Indian River.
      6300 S Straits Highway, Indian River, MI 49749
      View Details

    FAQs

    What type of property is this?
    Land - Acreage with boat slip near Indian River and Mullett Lake.
    Where is this land located?
    The property is located at V/L Site 9 Cedar Springs Lane Indian River, MI.
    What is the asking price?
    The asking price for this property is $89,900.
    What are key features of this property?
    This property features: Includes a boat slip on the Indian River, accommodating boats up to 35 feet.; Over one acre in size and nicely treed.; Natural gas and electric available at the property line.
    (231) 420-1123
    We can help!
    Listing Contact
    Walter T Ellis
    Real Estate License ID: 6506000495
    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
    V/L Site 9 Cedar Springs Lane, Indian River, MI 49749
    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!