Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wildwood Lake Land Opportunity Title is generated by Realmo AI

    15202 Lakeview Drive, Wolverine, MI 49799

    View on Map
    Claim this Listing
    For Sale
    $175,000

    LAND - Wolverine, MI

    Lot size:
    0.50 Acres
    Added:
    Feb 12, 2026
    Days on Market:
    99
    Last Refresh:
    May 22 at 12:06 pm

    Property Features for 15202 Lakeview Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    251-W23-000-250-00
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Description
    WILDWOOD VALLEY SUBDIVISION NO 2, LOTS 250 & 251. (SECS 21&22, T33N,R2W) 391/549;969/878

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Walter T Ellis

    Listing agent Walter T Ellis License #6506000495

    Listing office Berkshire Hathaway Homeservices Indian River 3412 S Straits Hwy, Indian River, MI

    Listing date Feb 12, 2026

    MLS# 201838728 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

    • Approximately 120 feet of lake frontage on Wildwood Lake.
    • Spacious 24'ft. x 30'ft. garage for storage.
    • 20'ft x 40' ft carport with cement floor, suitable for RVs or boats.
    • Electric is on the property.
    • Natural Gas is available on the road.
    • Fencing on the road and established landscaping.

    Overview

    This property on Wildwood Lake offers an opportunity for a year-round residence or seasonal getaway. It features approximately 120 feet of lake frontage. A 20 ft x 40 ft carport with a cement floor is present, suitable for RVs, boats, or extra storage. Additionally, there is a 24 ft x 30 ft garage, providing space for ATVs, lake toys, and tools. The driveway is in place, and fencing is installed along the road, with some landscaping already established. Electric service is available on the property, and natural gas is accessible on the road. The property is located near Wolverine, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Building Supply Big Box & Wholesale Store Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Wolverine
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.544879
    Latitude
    45.236837

    Nearby Similar for Sale

    • $8,900

      Wooded Land Near Wildwood Lake

      Wooded parcel with private access to all-sports Wildwood Lake.
      Lance Lake Road lot: 58, Wolverine, MI 49799
      View Details
    • $179,900

      Sturgeon River Waterfront Land

      2.7-acre parcel with 170+ feet of Sturgeon River frontage.
      B & C S Straits Highway, Wolverine, MI 49799
      View Details
    • $139,900

      Sturgeon River Waterfront Land Parcel

      1.4-acre waterfront lot on the Sturgeon River.
      8993 S Straits Highway, Wolverine, MI 49799
      View Details
    • $54,000

      Land with New Storage Building

      Land with new storage building near trails and Wildwood Lake.
      16271 Timberline Drive lot: 100, Wolverine, MI 49799
      View Details
    • $6,500

      Wooded Lot in Wolverine, MI

      Private 0.41-acre wooded lot in Wolverine, MI.
      15182 Promenade Des Skieurs lot: 41, Wolverine, MI 49799
      View Details
    • $17,000

      Land For Sale Wolverine, MI

      Land available for purchase in Wolverine, Michigan.
      113200 Congdon Road, Wolverine, MI 49799
      View Details
    • $129,900

      Waterfront Land on Wildwood Lake

      One-acre waterfront property with 84 feet of frontage.
      L 100-101 High Pine Court lot: 100 & 101, Wolverine, MI 49799
      View Details
    • $135,000

      Wildwood Lake Waterfront Land

      One-acre waterfront property on Wildwood Lake in Wolverine, Michigan.
      3472 High Pine Court, Wolverine, MI 49799
      View Details
    • $5,500

      Land Near Sturgeon River

      Recreational land near Sturgeon River, Wolverine, MI. Close to amenities.
      15190 Promenade Des Skieurs lot: 40, Wolverine, MI 49799
      View Details
    • $138,000

      Waterfront Land in Wolverine, Michigan

      Wooded 1.34-acre parcel with 107' frontage on Wildwood Lake.
      15472 Lakeview Drive lot: 214 & 215, Wolverine, MI 49799
      View Details
    • $21,500

      Land in Wolverine, Michigan

      Affordable lot with drive and cleared area for foundation.
      16253 Timberline Drive lot: 101, Wolverine, MI 49799
      View Details
    • $574,000

      Updated Commercial Building in Wolverine

      Five-unit commercial building in downtown Wolverine with excellent rental income.
      12909 S Straits Highway, Wolverine, MI 49799
      View Details

    FAQs

    What type of property is this?
    Recreation land - Land with lake frontage, carport, and garage near Wolverine.
    Where is this recreation land located?
    The property is located at 15202 Lakeview Drive Wolverine, MI.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Approximately 120 feet of lake frontage on Wildwood Lake.; Spacious 24'ft. x 30'ft. garage for storage.; 20'ft x 40' ft carport with cement floor, suitable for RVs or boats.
    (231) 420-1123
    We can help!
    Listing Contact
    Walter T Ellis
    Real Estate License ID: 6506000495
    Learn More
    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
    15202 Lakeview Drive, Wolverine, MI 49799
    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!