Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    VL 2.02 AC Carrier Road Hillman, MI 49746

    View on Map
    For Sale
    $40,000

    LAND - Hillman, MI

    Lot size:
    2.02 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    35
    Last Refresh:
    Apr 1 at 4:06 pm

    Property Features for VL 2.02 AC Carrier Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    004-113-000-190-10
    Lot size
    2.02 Acres

    Taxes and HOA fees

    TaxDescription
    PARCEL B: COMM AT THE SW CORN OF SEC 13, T31N, R4E; TH S 89*55'59'' E 426.34 TO POB; TH S 89*55'59'' E 400 FT; TH N 1*12'22'' W 220 FT; TH N 89*56'07'' W 400.66 FT; TH S 1*22'39'' E 220 FT TO POB. PART OF THE SW 1/4 OF THE SW 1/4 OF SEC 13, T31N, R4E CONT

    We can help!

    Listing Contact
    Aimee Smith
    Aimee Smith

    Listing agent Aimee Smith

    Listing office Hillman Real Estate 331 N State Street, Hillman, MI

    Listing date Feb 25, 2026

    MLS# 201838834

    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

    2.02 Acre Wooded Parcel

    This is a 2.02-acre wooded parcel located in Hillman Township, just outside the Village of Hillman. The property, with dimensions of approximately 400x220, offers space to build a home or retreat. It is situated on a paved, county-maintained road, allowing year-round access. The location provides a peaceful setting with natural surroundings and is a short drive to Alpena and Gaylord for shopping, dining, and other amenities. It is located in Northern Michigan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Hillman
    County
    Montmorency
    State
    Michigan
    Longitude
    -83.898193
    Latitude
    45.074006

    Nearby Similar for Sale

    • $1,400,000
      13,184 SF

      Hillman Assisted Living Facility

      Licensed assisted living facility with 20 individual apartments.
      200 N Elizabeth Street, Hillman, MI 49746
      View Details
    • $815,000
      5,934 SF

      Established Sporting Goods Business For Sale

      Reputable sporting goods business in Northern Michigan with real estate.
      141 State Street, Hillman, MI 49746
      View Details
    • $495,000

      Secluded River Ranch in Hillman

      Pristine 150-acre ranch with Thunder Bay River frontage.
      22006 Bowden Trail, Hillman, MI 49746
      View Details
    • $40,000

      Wooded Lots with Lake Access

      Two wooded lots near shared lake access in Hillman, Michigan.
      V/L W Pinecrest Circle lot: 6 & 7, Hillman, MI 49746
      View Details
    • $200,000
      2,935 SF

      Turnkey Gas Station Opportunity

      Gas station and convenience store for sale in Hillman, Michigan.
      14990 & 14978 State Street, Hillman, MI 49746
      View Details
    • $200,000
      2,935 SF

      Turnkey Gas Station Opportunity

      Gas station and convenience store for sale in Hillman, Michigan.
      14990 & 14978 State Street, Hillman, MI 49746
      View Details
    • $20,000

      Wooded Lot Near Ess Lake

      1.25 acre wooded lot with lake access near Hillman.
      V/L Ess Lake Drive lot: 213, Hillman, MI 49746
      View Details
    • $55,000

      Hillman, MI Land For Sale

      10.08 acres of land with rolling and sloping topography.
      V/L Par 9 M-32, Hillman, MI 49746
      View Details
    • $15,000

      Wooded Lot Near Lake Avalon

      Wooded lot near Lake Avalon, perfect for recreation or building.
      Francis Ave lot: #60, Hillman, MI 49746
      View Details
    • $50,000

      10 Acres Vacant Land

      10 acre vacant land parcel in Rust Township, Montmorency County.
      VL Camp Domino, Hillman, MI 49746
      View Details
    • $815,000
      5,934 SF

      Established Sporting Goods Business For Sale

      Reputable sporting goods business with real estate, inventory, and goodwill.
      141 State Street, Hillman, MI 49746
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.02-acre wooded parcel in Hillman Township, build your dream home.
    Where is this residential land & home lot located?
    The property is located at VL 2.02 AC Carrier Road Hillman, MI.
    What is the asking price?
    The asking price for this property is $40,000.
    What are key features of this property?
    This property features: Large 2.02‑acre wooded parcel, ideal for building a dream home.; Located on a paved, county‑maintained road for year‑round access.; Close proximity to Alpena and Gaylord for shopping and amenities.
    (989) 274-0260
    We can help!
    Listing Contact
    Aimee Smith
    Aimee Smith
    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!