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    Lakeside Cabins Investment Property Title is generated by Realmo AI

    11586 N Old 27, Frederic, MI 49733

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    Claim this Listing
    New
    For Sale
    $950,000

    MULTI_FAMILY - Ranch, Cottage - Frederic, MI

    Type:Single Family Residence
    Property size:
    4,077 SF
    Price / SF:
    $233/SF
    Added:
    May 19, 2026
    Days on Market:
    3
    Last Refresh:
    May 21 at 6:06 am

    Property Features for 11586 N Old 27

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    14
    Bathrooms
    8
    Rooms
    Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 14, Bedroom 12, Bedroom 1, Bedroom 11, Bedroom 13, Bedroom 6, Bathroom 3, Bathroom 6, Bedroom 8, Bathroom 4, Bedroom 3, Bedroom 10, Bathroom 7, Bathroom 8, Bathroom 1, Bedroom 4, Bedroom 5, Bathroom 5, Bedroom 9
    Interior features
    Carpet, Ceiling Fans, Hardwood Floors, Smoke Detector, Tile Floors
    Basement
    Crawl Space
    Appliances
    Washer, Refrigerator, Microwave, Dryer
    Standard status
    Active
    APN
    020-006-004-080-00
    Size
    4,077 SF

    Taxes and HOA fees

    Tax Description
    COMM AT A PT S42 DEG 15M W 456.8 FT FROM INTERSEC.OF N LINE OF SE/4 OF NE/4 OF SEC 6 & E LY R.O.W. OF US-27-TH S51 DEG 18ME 184.2 FT TO W LY SHORE CONT. 283-6-4-4 OF HORSESHOE LAKE-TH S LY ALONG SHORE 112.2 FT-TH S81 DEG 30MW 385.8 FT-TH N 42 DEG ...

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Forced Air, Propane (Heating), Baseboard
    Cooling system
    Central Air, Ceiling Fan(s), Wall Unit(s)
    Water source
    Well
    Water front
    1

    Building Details

    Number of units
    8
    Building materials
    Metal Siding, Paved Street, Shed, Steel Siding, Vinyl, Wood
    Architectural style
    Cottage, Ranch

    We can help!

    Listing Contact
    Jim Hodges

    Listing agent Jim Hodges

    Listing office Real Estate One of Gaylord 110 W Main St, Gaylord, MI

    Listing date May 19, 2026

    MLS# 201840145 Listing URL

    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

    • Turn‑key Northern Michigan resort with 8 lakeside cabins.
    • Strong income potential as a rental property.
    • Seven four‑season rental cabins, including caretaker unit.
    • Lakefront access with docks, swim raft, kayaks, and playground.
    • Convenient location near I‑75 and snowmobile trails.
    • Includes essential appliances: Washer, Refrigerator, Microwave, Dryer.

    Overview

    Stolen Acres Resort on Horseshoe Lake presents an investment opportunity with 8 lakeside cabins. Seven of these cabins are suitable for year-round rental. One larger cabin is currently used as caretaker living, with an additional unit attached to a garage and workshop. The resort provides access to two docks, a swim raft, kayaks, a playground area, firepits, and ample parking. The property is located near snowmobile trails and offers year-round recreational opportunities. Situated just 2 miles from I-75, the location provides convenient access for travelers and vacationers. The property is suitable for expanding an investment portfolio, operating a family resort, or general investment, with income potential in a recreational setting. The property size is 4077 square feet and is located in Frederic, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    STOLEN ACRES Vacation Rental

    Suggested Use

    Real Estate Agency Department Store Travel Agency Nursing Home (Bike/Boat/Book/etc) Store Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederic
    County
    Crawford
    State
    Michigan
    Longitude
    -84.711476
    Latitude
    44.853126

    Nearby Similar for Sale

    • $525,000
      5,167 SF

      Restaurant, Bar, and Apartments

      Established restaurant and bar with additional income from apartments.
      6516 N Old 27, Frederic, MI 49733
      View Details
    • $450,000
      9,125 SF

      Commercial Property on Old 27

      Commercial property with multiple buildings and potential uses.
      4848 N Old 27, Frederic, MI 49733
      View Details

    FAQs

    What type of property is this?
    Resort - Turn-key Northern Michigan resort with strong income potential.
    Where is this resort located?
    The property is located at 11586 N Old 27 Frederic, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Turn‑key Northern Michigan resort with 8 lakeside cabins.; Strong income potential as a rental property.; Seven four‑season rental cabins, including caretaker unit.
    (989) 370-9850
    We can help!
    Listing Contact
    Jim Hodges
    Learn More
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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.

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