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    The Largest CRE Database in the US with Over 1 Million Listings

    3943 Skookum Rd Luther, MI 49656

    Sponsored
    For Sale
    $6,200,000

    Northern Michigan Wedding Venue, Corporate Retreat, Camp or Private Lodge -670 Acres + Lake

    Property size:
    22,000 SF

    Description

    Added:
    Sep 29, 2025
    Days on Market:
    121
    Welcome to Rockwell Lodge, a rare opportunity to own nearly 670 acres of pristine Northern Michigan wilderness with a private 40-acre lake at its heart. This secluded retreat in Ellsworth Township, Lake County, combines unmatched natural beauty with extensive improvements, offering endless recreational and lifestyle possibilities. The land is a diverse mix of rolling hills, mature hardwoods, planted pines, wetlands, and elevated ridges overlooking Rockwell Lake—home to largemouth bass, bluegill, and walleye. Abundant wildlife thrives across the property, including whitetail deer, turkey, black bear, and grouse, making it a true sportsman’s paradise.

    The centerpiece is the 11,800+ sq. ft. Rockwell Lodge, featuring 10 private hotel-style rooms with fireplaces and balconies, a grand lobby with stone fireplace and beamed cathedral ceilings, conference and dining space for large gatherings, and a full commercial kitchen. Additional accommodations include four rustic camp-style cabins with bunk space and classrooms, and a recently renovated 2,100 sq. ft. residence with 4 bedrooms, 2 baths, and modern finishes—ideal for a manager’s home or private retreat. Supporting structures include a heated 2,400 sq. ft. maintenance building with carport (2021), storage garage, well house, boat shed, and more.

    Outdoor amenities include two permanent docks, a lakeside patio and firepit, walking trails, a gated private entry, and approximately 25 paved parking spaces. Utilities are well-equipped with multiple propane tanks, backup diesel generator, and private well/septic systems. With over two miles of road frontage, including paved access, the property offers flexibility for future use or potential land divisions.
    Whether envisioned as a private family estate, corporate retreat, hunting and fishing lodge, or conservation legacy property, Rockwell Lodge offers a once-in-a-lifetime chance to own one of Michigan’s most unique large-acreage retreats. Contact Ken Weaver at 231-668-6303 OR Johnny and Matt Crane at 231-350-8039

    Property Features for 3943 Skookum Rd

    General Information

    Property type
    Wedding venues
    Square Feet
    22,000 SF
    Class
    A
    Total Parking Spaces
    25
    Elevators
    No
    Lot Size
    29,185,200 SF

    Building Details

    Year Built
    2009
    Buildings
    6
    Stories
    2
    Units
    19

    We can help!

    Listing Contact
    traversenorth

    Learn more

    Property Insight Report

    HighLights

    • 670 Acres Private 40+ acre Lake 12,000 sq ft lodge 4 additional duplex cottages Updated home
    Location Intelligence

    Current Use by Public Records

    The Rockwell Lake Lodge Lodge Hillsdale College Biological College

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Luther
    State
    Michigan
    Longitude
    -85.646174556095
    Latitude
    44.04347095

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    FAQs

    What type of property is this?
    Wedding venue - Northern Michigan Wedding Venue, Corporate Retreat, Camp or Private Lodge -670 Acres + Lake
    Where is this wedding venue located?
    The property is located at 3943 Skookum Rd Luther, MI.
    What is the asking price?
    The asking price for this property is $6,200,000.
    What are key features of this property?
    This property features: 670 Acres Private 40+ acre Lake 12,000 sq ft lodge 4 additional duplex cottages Updated home
    (231) 357-0821
    Request Owner's contact information
    3943 Skookum Rd Luther, MI 49656
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    Luther, MI 49656
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    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
    3943 Skookum Rd Luther, MI 49656
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    We can help!
    Listing Contact
    traversenorth
    (231) 357-0821
    Learn more
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