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    Prime Retail Space Near Supercenter Title is generated by Realmo AI

    11617 N Straits Highway, Cheboygan, MI 49721

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    New
    For Sale
    $850,000

    COMMERCIAL - Cheboygan, MI

    Property size:
    7,000 SF
    Lot size:
    0.84 Acres
    Price / SF:
    $121/SF
    Added:
    May 8, 2026
    Days on Market:
    1
    Last Refresh:
    May 8 at 7:06 pm

    Property Features for 11617 N Straits Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    D-CM
    Standard status
    Active
    APN
    092-006-300-002-00
    Size
    7,000 SF
    Lot size
    0.84 Acres

    Taxes and HOA fees

    Tax Description
    COM CEN 1/4 COR SEC 6 TH S 86DEG 10MIN 30SEC E 1010FT TH S 3DEG 49MIN 49SEC W 280FT TH S 86DEG 10MIN 11SEC E 370FT TH N 3DEG 49MIN 49SEC E 37FT TO POB TH N 3DEG 49MIN 49SEC E 210FT TH S 86DEG 10MIN 11SEC E 169.44FT TO WLY R/W HWY 27 TH S 1DEG 8MIN 41 SEC E ALG R/W 60.19 FT TH S 0DEG 55MIN 40SEC E ALG R/W 40FT TH SLY ALG R/W 80FT TH WLY 185FT M OR L TO POB SEC 6 T 37N R 1W 1392/342

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Floors in Building
    1
    Building materials
    Block

    We can help!

    Listing Contact
    Randy K Ernst

    Listing agent Randy K Ernst

    Listing office Berkshire Hathaway HomeServices-Cheboygan 11506 N Straits Hwy, Gaylord, MI

    Listing date May 8, 2026

    MLS# 201839916

    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

    • Faces the area's #1 anchor store (Wal‑Mart Super Center), guaranteeing high visibility and traffic.
    • Highest daily traffic count in the area.
    • 7,000 sq. ft. of open space with free‑span construction, offering versatile layout options.
    • 37 dedicated parking spaces.
    • Flexible lease terms (NNN) or purchase options available.
    • Convenient location with access to I‑75, US4131, and the Upper Peninsula.

    Overview

    This commercial property offers unmatched visibility and endless possibilities in a high-traffic retail corridor. Fronting a Wal-Mart Super Center, the largest anchor store in the region, the property benefits from the highest daily traffic count in the area. The location is conveniently situated near I-75, US4131, and the Upper Peninsula. The property features 7,000 square feet of open space with free-span construction, providing a blank canvas for various business ventures. There are 37 dedicated, paved parking spaces. The flexible terms are built for success, with the seller motivated to move forward. The property is suitable for a massive flagship store for Trade/DIY, Automotive, or Marine Retail, or subdivision into a high-end Urgent Care Clinic, multiple boutique offices, or a sports-related recreational layout. It sits on a lot of 0.84 acres. The zoning is D-CM.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Advance Auto Parts Auto Parts Store UPS Access Point ... Courier Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheboygan
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.478385
    Latitude
    45.626204

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    FAQs

    What type of property is this?
    Storefront property - High-visibility commercial space with flexible terms and ample parking.
    Where is this storefront property located?
    The property is located at 11617 N Straits Highway Cheboygan, MI.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Faces the area's #1 anchor store (Wal‑Mart Super Center), guaranteeing high visibility and traffic.; Highest daily traffic count in the area.; **7,000 sq. ft. of open space with free‑span construction, offering versatile layout options.**
    (877) 808-7007
    We can help!
    Listing Contact
    Randy K Ernst
    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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