Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Redevelopment Opportunity in Prudenville, MI Title is generated by Realmo AI

    2545 S Gladwin R, Prudenville, MI

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    24,392 SF building on 2.45 acres in Prudenville, MI.

    Type:RETAIL
    Property size:
    24,392 SF
    Lot size:
    2.45 Acres
    Added:
    Nov 28, 2025
    Days on Market:
    175
    Last Refresh:
    Apr 5 at 8:57 pm

    Property Features for 2545 S Gladwin R

    General Information

    Standard status
    Active
    Size
    24,392 SF
    Lot size
    2.45 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jack Melton
    Jack Melton

    Listing agent Jack Melton

    Listing office Colliers

    Listing date Nov 28, 2025

    Source Moodyscre

    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 Colliers

    HighLights

    • Prime location at signalized intersection of M‑55 & M‑18 offering excellent visibility and access.
    • High traffic counts: 12,673 VPD on Oakdale Drive SW and 11,559 VPD on S Gladwin Road NW.
    • Substantial 24,392 SF building on 2.45 acres.
    • Surrounded by national and local retailers including Walmart, Home Depot, and Walgreens.
    • Ideal for redevelopment or continued retail/grocery use.
    • Zoned Commercial for flexible future use.

    Overview

    The property features a 24,392-square-foot building situated on 2.45 acres. It is located at a signalized intersection of M-55 and M-18 in Prudenville, Michigan, offering excellent visibility and access. The location benefits from strong traffic counts, with 12,673 vehicles per day on Oakdale Drive SW and 11,559 vehicles per day on S Gladwin Road NW. The surrounding area includes national and local retailers such as Walmart, Family Fare Supermarket, Home Depot, Dollar General, Walgreens, McDonald’s, and Arby’s. The property benefits from a strong regional draw with steady year-round traffic. The property is currently owner-occupied and is ideal for redevelopment or continued retail or grocery use. Formerly a supermarket, the property includes 76 surface parking spaces, providing a ratio of 3.12 spaces per 1,000 square feet. It is zoned commercial, allowing for flexible future use.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Prudenville
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.652
    Latitude
    44.2984

    Nearby Similar for Sale

    • $749,000
      6,791 SF

      Versatile Commercial Property in Prudenville

      High-visibility commercial building suitable for diverse business operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $749,000
      6,791 SF

      Versatile Commercial Property in Prudenville

      High-visibility commercial building suitable for diverse business operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $350,000
      14,810 SF

      Versatile Commercial Building Near Houghton Lake

      Commercial building near Houghton Lake suitable for retail, office, or apartments.
      960 W Houghton Lake, Prudenville, MI 48651
      View Details
    • $360,000
      2,880 SF

      Profitable Car Wash Investment Opportunity

      Well-maintained car wash on a high-traffic corridor near Houghton Lake.
      225 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $360,000

      Profitable Car Wash Investment Opportunity

      Well-maintained car wash on Highway M-55 near Houghton Lake.
      225 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $690,000

      Commercial Opportunity in Houghton Lake

      Well-maintained commercial building with flexible layout in a prime location.
      2121 West Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $690,000

      Commercial Opportunity in Houghton Lake

      Well-maintained commercial building with flexible layout in a prime location.
      2121 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $749,000
      6,791 SF

      Versatile Commercial Property For Sale

      High-traffic location suitable for retail, service, or mixed commercial operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $1,199,999

      Hospitality Investment Opportunity in Prudenville

      Hospitality and resort investment opportunity on Houghton Lake's East Bay.
      104 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $325,000
      32,770 SF

      Former School Redevelopment Opportunity

      32,770 SF former school for commercial/residential redevelopment in Prudenville.
      604 Sullivan Avenue, Prudenville, MI 48651
      View Details
    • $194,900
      7 SF

      Recreational Property with Development Potential

      7.25 acre recreational property with commercial building and development potential.
      1391 W Houghton Lake Drive Prudenville, MI 48651, MI 48651
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - 24,392 SF building on 2.45 acres in Prudenville, MI.
    Where is this grocery and convenience store located?
    The property is located at 2545 S Gladwin R Prudenville, MI.
    What are key features of this property?
    This property features: Prime location at signalized intersection of M‑55 & M‑18 offering excellent visibility and access.; High traffic counts: 12,673 VPD on Oakdale Drive SW and 11,559 VPD on S Gladwin Road NW.; Substantial 24,392 SF building on 2.45 acres.
    (248) 226-1656 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jack Melton
    Jack Melton
    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
    2545 S Gladwin R, Prudenville, MI
    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!