Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    5 acres Co 513 T Rapid River, MI 49878

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $125,000

    Vacant Land - Rapid River, MI

    Lot size:
    4.90 Acres
    Added:
    Jan 14, 2026
    Days on Market:
    113
    Last Refresh:
    May 7 at 5:06 am

    Property Features for 5 acres Co 513 T

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Mixed Use
    Standard status
    Active Under Contract
    APN
    Part of 003-275-015-00
    Lot size
    4.90 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2900

    Utilities

    Water front features
    Lake Frontage, All Sports Lake, Great Lake, Waterfront, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    ROB SULLIVAN
    ROB SULLIVAN

    Listing agent ROB SULLIVAN License #6502362192

    Listing office NORTHERN MICHIGAN LAND BROKERS 325 Erickson, Marquette, MI

    Listing date Jan 14, 2026

    MLS# 50197534 Listing URL

    Copyright © 2026 Upper Peninsula Association 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

    • 4.9‑acre parcel on the desirable Stonington Peninsula.
    • Lake Frontage and Waterfront features.
    • Abundant recreational opportunities including fishing, hunting, and side‑by‑side riding.
    • Easy, year‑round access.
    • Electric available at the road.
    • 15 minutes south of Rapid River.

    Overview

    Recreational Land Near Rapid River

    This 4.9-acre parcel is located on the Stonington Peninsula, approximately 15 minutes south of Rapid River. The property offers recreational and homestead opportunities, including fishing, hunting, and side-by-side riding. It is suited for a variety of uses and provides an opportunity to develop into a homestead or recreational retreat. The land has easy, year-round access, and electricity is available at the road. The property is located in Delta County, with mixed-use zoning.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Rapid River
    County
    Delta
    State
    Michigan
    Longitude
    -86.9626052
    Latitude
    45.9941608

    Nearby Similar for Sale

    • $299,900
      3,938 SF

      Iconic Restaurant and Bar Opportunity

      Historic restaurant and bar with residential income potential.
      10468 S Main, Rapid River, MI 49878
      View Details
    • $18,900

      Wooded Lot in Rapid River

      Beautiful 1.13 acre wooded lot in a private setting.
      10431 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $13,500

      Wooded Lot in Rapid River

      Beautiful wooded lot in a private, quiet, country setting.
      10490 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $14,000

      Wooded Lot in Rapid River

      Large wooded lot in a private, quiet, country setting.
      10481 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $13,500

      Wooded Lot in Rapid River

      Large, wooded lot in a private, quiet, country setting.
      10492 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $13,500

      Wooded Lot in Rapid River

      Large, wooded lot in a private, quiet, country setting.
      10494 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $19,900

      Wooded Lot in Rapid River

      Large wooded lot in a private, quiet, country setting.
      10441 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $18,900

      Wooded Lot in Rapid River

      Large, wooded lot in a private, quiet, country setting.
      10451 BREEZY R.22 LANE, RAPID RIVER, MI 49878
      View Details
    • $25,000

      Land on Stonington Peninsula

      Wooded 2-acre lot near Hiawatha National Forest.
      TBD East Stonington Aa.5, Rapid River, MI 49878
      View Details
    • $159,000

      Waterfront Land on Whitefish River

      Waterfront land with foundation and utilities ready in Rapid River.
      7952 Garth Point 25.25, Rapid River, MI 49878
      View Details
    • $49,900

      Land in Rapid River, MI

      Commercial land with high traffic exposure in Rapid River.
      7683 US2 HIGHWAY, RAPID RIVER, MI 49878
      View Details
    • $14,500

      Wooded Lot in Rapid River

      Beautiful wooded lot in a private, quiet, country setting.
      10471 BREEZY R.2 LANE, RAPID RIVER, MI 49878
      View Details

    FAQs

    What type of property is this?
    Recreation land - 4.9-acre parcel on Stonington Peninsula, 15 minutes from Rapid River.
    Where is this recreation land located?
    The property is located at 5 acres Co 513 T Rapid River, MI.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: 4.9‑acre parcel on the desirable Stonington Peninsula.; Lake Frontage and Waterfront features.; Abundant recreational opportunities including fishing, hunting, and side‑by‑side riding.
    (906) 236-5806
    We can help!
    Listing Contact
    ROB SULLIVAN
    ROB SULLIVAN
    Real Estate License ID: 6502362192
    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
    5 acres Co 513 T, Rapid River, MI 49878
    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!