Retail Building with Rear
For Sale
$670,000
2121 W Houghton Lake Drive, Prudenville, MI 48651
The former deli includes a block foundation and a flexible interior layout with additional space at the rear.
Property Size5,500 SF
Price / SF$121.82
Days on Market11
Property Features for 2121 W Houghton Lake Drive
General Information
Standard status
Active
Size
5,500 SF
Zoning
201 Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Block Foundation
No
90 x 264
Paved
5500.0
Building Details
Building Size
5,500 SF
Listing Agency:
NextHome Up North
(989) 273-3883
Listed By:
Chet Wheeler
Source:
Graylingrealestate
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 4:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NextHome Up North
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property contains 5,500 square feet and has a block foundation. Its interior includes a rear area, and the building previously operated as a deli. The existing layout supports a range of commercial configurations without relying on a specific use plan.
The property is on M-55 at 2121 W Houghton Lake Drive in Prudenville, Michigan, a short walk from Walmart. Zoning is 201 Commercial.
The property is on M-55 at 2121 W Houghton Lake Drive in Prudenville, Michigan, a short walk from Walmart. Zoning is 201 Commercial.
Key Highlights
- 5,500 square feet of retail space
- Previously operated as a deli
- Rear area offers additional interior space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,824
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$796,480
$796.5K
Cap Rate 7%
$568,914
$568.9K
Cap Rate 9%
$442,489
$442.5K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$66.0K $12.00/SF
− Vacancy
−$9.1K −$1.66/SF
EGI
$56.9K $10.34/SF
− OpEx
−$17.1K −$3.10/SF
NOI
$39.8K $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%
$796,480
Cap Rate 7%
$568,914
Cap Rate 9%
$442,489
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,824 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
194
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
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The former deli includes a block foundation and a flexible interior layout with additional space at the rear.
Where is this retail space located?
The property is located at 2121 W Houghton Lake Drive Prudenville, MI.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 5,500 square feet of retail space; Previously operated as a deli; Rear area offers additional interior space
