Sign Up Successful!
You now have access to more from Realmo!
    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

    W Houghton Lake Dr Houghton Lake, MI 48629

    Sponsored
    For Sale
    $179,000

    Vacant Lot/Land - Houghton Lake, MI

    Lot size:
    22.00 Acres
    Days on Market:
    188
    Last Refresh:
    Feb 7 at 8:06 pm

    Property Features for W Houghton Lake Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial,Other
    Exterior features
    None
    Lot size
    22.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ruth Anne Clemens
    Ruth Anne Clemens

    COLDWELL BANKER SCHMIDT REALTORS-HL (989) 366-5522

    Listing agent RUTH CLEMENS (989) 366-5522

    Listing date Aug 4, 2025

    MLS# 1922724 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. 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

    Commercial Land Near Walmart

    This is a 22-acre vacant commercial property located across from Walmart on Highway M-55 in Houghton Lake, MI. The property includes upland along M-55 and wetland acreage to the rear. Back-to-back billboards on the frontage generate a total monthly income of $610 ($305 each side).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.695195068359
    Latitude
    44.298393423073

    Nearby Similar for Sale

    • $950,000
      32.00 Acres

      Houghton Lake Campground Opportunity

      Established campground near Houghton Lake with multiple revenue streams.
      9371 Carlos Ave, Houghton Lake, MI 48629
      View Details
    • $1,190,000
      6,476 SF

      Houghton Lake Waterfront Cabin Resort

      Lakefront cabin resort on Houghton Lake with multiple residences.
      10913 E Houghton Lake Dr, 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 Rd, Houghton Lake, MI 48629
      View Details
    • $1,190,000
      6,476 SF

      Houghton Lakefront Cabin Resort Opportunity

      Lakefront cabin resort on Houghton Lake with multiple residences.
      10913 E Houghton Lake Dr, 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 St, Houghton Lake, MI 48629
      View Details
    • $170,000

      Houghton Lake Duplex Investment Opportunity

      Duplex with rental history near Houghton Lake shores and amenities.
      5407 W Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • $375,000
      6,000 SF

      Established Retail Business Opportunity

      Profitable retail business for sale at a busy intersection.
      8979 W Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • $95,000
      0.16 Acres

      Houghton Lake Storage Opportunity

      Versatile storage space for personal and business use.
      317 Cherry St, Houghton Lake, MI 48629
      View Details
    • $545,000
      3,828 SF

      Houghton Lake Office Building For Sale

      Office building in Houghton Lake, MI with long-term lease.
      2255 S Tower Hill Rd, Houghton Lake, MI 48629
      View Details
    • $545,000

      Houghton Lake Commercial Opportunity

      Commercial property with long-term lease in Houghton Lake, MI.
      2255 S Tower Hill Rd, Houghton Lake, MI 48629
      View Details
    • New
      $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 Dr, 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 Dr, Houghton Lake, MI 48629
      View Details

    FAQs

    What type of property is this?
    Land - 22-acre commercial property across from Walmart with billboard income.
    Where is this land located?
    The property is located at W Houghton Lake Dr Houghton Lake, MI.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: - Highway M-55 frontage across from Walmart.; - Existing billboard income of $610 monthly.; - Vacant commercial property.
    (989) 429-3100
    Request Owner's contact information
    W Houghton Lake Dr Houghton Lake, MI 48629
    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.
    W Houghton Lake Dr
    Houghton Lake, MI 48629
    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
    W Houghton Lake Dr Houghton Lake, MI 48629
    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

    We can help!
    Listing Contact
    Ruth Anne Clemens
    Ruth Anne Clemens
    Real Estate License ID: 6502369433
    (989) 429-3100
    Learn more
    Google sign-in failed. Please try again or use another login method.