Block Retail
1200 W Houghton Lake Drive, Prudenville, MI 48651
For Sale
$749,000
Commercial, Prudenville, MI
Property Size6,791 SF
Lot Size1.70 Acres
Price / SF$110.29
Days on Market248
Property Features for 1200 W Houghton Lake Drive
General Information
Property type
Property subtype
Zoning description
Parking features
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Building Details
Building materials
Roof type
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS-HL
(989) 366-5522
Listed By:
RUTH CLEMENS · License MI #6506043271
(989) 429-3100
Added: Mar 11
Changed: Oct 2
Last Checked: Nov 13 at 6:06AM
MLS# 1943095
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.
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Investment Insights
Based on property information with market context.
This retail property includes 6,791 square feet on a 1.7-acre parcel. The building has an open interior arrangement with adaptable work areas, customer entry access, and space suited to retail or service operations. Block construction, a membrane roof, and well-kept grounds complete the physical improvements.
The property is located at 1200 W Houghton Lake Drive in Prudenville, Michigan. On-site parking is provided through a dedicated parking lot. A private water source serves the property.
The property is located at 1200 W Houghton Lake Drive in Prudenville, Michigan. On-site parking is provided through a dedicated parking lot. A private water source serves the property.
Key Highlights
- 6,791‑square‑foot retail building on 1.7 acres
- Block construction with membrane roof
- Open interior layout with flexible work areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,172
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$983,440
$983.4K
Cap Rate 7%
$702,457
$702.5K
Cap Rate 9%
$546,356
$546.4K
Market Conditions
NOI Build-Up for 6,791 SF
Gross rent
$81.5K $12.00/SF
− Vacancy
−$11.2K −$1.66/SF
EGI
$70.2K $10.34/SF
− OpEx
−$21.1K −$3.10/SF
NOI
$49.2K $7.24/SF
Area
Roscommon County, MI
Vacancy
13.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$983,440
Cap Rate 7%
$702,457
Cap Rate 9%
$546,356
Alternative Uses
Best Use
Retail
$702.5K
$614.7K – $819.5K
NOI $49,172 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$977.9K – $1.30M
NOI $78,232 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 48651, MI
4,396
Population
3,825
Households
1.1
Avg Household Size
56
Median Age
19%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
62
Density / Sq Mi
$42,938
Median Household Income
$32,917
Median Earnings
$797
Median Rent
$156,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Roscommon County, MI
Properties on Market for Retail space in Roscommon County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Open-layout retail property with flexible work areas, on-site parking, and convenient entry access.
Where is this retail space located?
The property is located at 1200 W Houghton Lake Drive Prudenville, MI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 6,791‑square‑foot retail building on 1.7 acres; Block construction with membrane roof; Open interior layout with flexible work areas
