Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wooded Lot in Shanty Creek Title is generated by Realmo AI

    V/L 151 OLYMPIA FIELDS, Bellaire, MI 49615

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    land - CUSTER TWP, MI

    Lot size:
    0.75 Acres
    Added:
    May 23, 2026
    Days on Market:
    2
    Last Refresh:
    May 24 at 10:06 pm

    Property Features for V/L 151 OLYMPIA FIELDS

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.75 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Janet Piscopo

    Listing agent Janet Piscopo

    Listing office Bellaire 633 Willow Drive, MI

    Listing date May 23, 2026

    MLS# 78080068676 Listing URL

    Copyright © 2026 Coldwell Banker Schmidt 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

    • Enjoy the convenience of close proximity to Cedar River Village amenities: championship golf, skiing, dining, and outdoor pool.
    • Located in Shanty Creek Resorts, offering recreational opportunities.
    • Wooded, level, 3/4 acre lot at the end of a cul‑de‑sac, providing privacy.
    • Minutes from Bellaire and the Chain of Lakes, offering boating, fishing, and dining.
    • Utilities available at the road: natural gas, municipal water, underground utilities, and fiber optic cable.
    • Suitable for building a ranch‑style (min. 1,500 sq ft main floor) or two‑story home (min. 2,000 sq ft) with an attached two‑car garage.

    Overview

    This 0.75-acre lot, identified as Lot 151 Olympia Fields, is situated within Cedar River Village at Shanty Creek Resorts. The property is a wooded and level lot located at the end of a cul-de-sac. It offers privacy and is positioned near Cedar River Village amenities, including golf, skiing, dining, and an outdoor pool. Building requirements stipulate a minimum of 1,500 square feet on the finished main floor for a ranch-style home, or 2,000 square feet for a two-story home, along with an attached two-car garage. Natural gas, municipal water, underground utilities, and fiber optic cable are available at the road. The location provides access to boating, fishing, and dining, and is located minutes from the Village of Bellaire and the Upper and Lower Chain of Lakes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Garden Center Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellaire
    County
    Antrim
    State
    Michigan
    Longitude
    -85.244
    Latitude
    44.9803

    Nearby Similar for Sale

    • $265,000
      1,400 SF

      Restaurant/Retail Space in Bellaire, MI

      Prime commercial space in Bellaire, suitable for various businesses.
      103 S Division Street, Bellaire, MI 49615
      View Details
    • $235,000

      Bellaire Waterfront Lot Opportunity

      Cleared waterfront lot with access to Chain of Lakes.
      Lot 7 Mallard Lane, Bellaire, MI 49615
      View Details
    • $235,000

      Bellaire Waterfront Lot Opportunity

      Waterfront lot with access to Lower Chain of Lakes.
      Lot 9 Mallard Lane, Bellaire, MI 49615
      View Details
    • $289,000
      2,400 SF

      Bellaire Commercial/Industrial Opportunity

      Well-maintained commercial building in Bellaire, Michigan, with retail and residential potential.
      732 E Cayuga, Bellaire, MI 49615
      View Details
    • $235,000

      Bellaire Waterfront Lot for Sale

      Rare waterfront lot with access to Lower Chain of Lakes.
      Lot 3 Harbor Street, Bellaire, MI 49615
      View Details
    • $1,600,000
      3,776 SF

      Established Tree Service Business

      Thriving tree service business with land, buildings, and equipment.
      220 Birch Street, Bellaire, MI 49615
      View Details
    • $29,900

      Golf Course View Residential Lot

      Spacious lot on Cedar River Golf Course with sweeping views.
      V/L 51 TROON SOUTH, KEARNEY TWP, MI 49615
      View Details
    • $29,900

      Golf Course View Land

      Spacious lot on Cedar River Golf Course fairway.
      V/L 51 TROON SOUTH, BELLAIRE, MI 49615
      View Details
    • $9,900

      Wooded Lot Near Shanty Creek

      Expansive 0.77-acre wooded lot in Cedar River Village.
      V/L 59 COLONIAL DRIVE, KEARNEY TWP, MI 49615
      View Details
    • $500,000

      Expansive Land Near Torch Lake

      77 acres near Torch Lake with rolling hills and pole barn.
      7573 ALDEN HIGHWAY, BELLAIRE, MI 49615
      View Details
    • $129,900

      Legend Golf Course Vacant Land

      3.47-acre lot on Legend Golf Course with Lake Bellaire backdrop.
      07 Creek Hill Drive, Bellaire, MI 49615
      View Details
    • $34,900

      Golf Course View Building Lot

      Build your dream home with golf course and nature views.
      2 Forest Trail, Bellaire, MI 49615
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 3/4 acre lot near Shanty Creek Resort amenities.
    Where is this residential land & home lot located?
    The property is located at V/L 151 OLYMPIA FIELDS Bellaire, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Enjoy the convenience of close proximity to Cedar River Village amenities: championship golf, skiing, dining, and outdoor pool.; Located in Shanty Creek Resorts, offering recreational opportunities.; Wooded, level, 3/4 acre lot at the end of a cul‑de‑sac, providing privacy.
    (231) 384-0059
    We can help!
    Listing Contact
    Janet Piscopo
    Real Estate License ID: 6506041607
    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

    Thank You for Inquiry
    V/L 151 OLYMPIA FIELDS, CUSTER TWP, MI 49615
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!