Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    2.5-Acre Parcel Near Manistee Lake Title is generated by Realmo AI

    5038 NE East Shore Drive, Kalkaska, MI 49646

    View on Map
    Claim this Listing
    For Sale
    $70,000

    Vacant Land Improved - Kalkaska, MI

    Lot size:
    2.50 Acres
    Added:
    Oct 17, 2025
    Days on Market:
    218
    Last Refresh:
    May 22 at 4:06 pm

    Property Features for 5038 NE East Shore Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential,Metes and Bounds
    Exterior features
    None, Rv Parking
    Standard status
    Active
    Lot size
    2.50 Acres

    Utilities

    Water front features
    Inland Lake, Public Lake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Frank Franco
    Frank Franco

    Listing agent Frank Franco

    Listing office REMAX Bayshore - Kalkaska 303 N Cedar Street, Traverse City, MI

    Listing date Oct 17, 2025

    MLS# 1939676 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2. 5‑acre wooded parcel with mature hardwoods offering beauty and privacy.
    • Electric and well already installed on the property.
    • Short walk to Manistee Lake with access to fishing, boating, and swimming.
    • Located near main ORV and snowmobile trail systems for year‑round adventure.
    • County‑maintained asphalt road with high‑speed internet and natural gas available.
    • Close proximity to numerous other lakes and the Manistee River for outdoor recreation.

    Overview

    This 2.5-acre parcel is located in Kalkaska County and is near Manistee Lake. The property is wooded with mature hardwoods, offering beauty and privacy. It is equipped with electric and a well. This parcel is suited for a home, cabin, or up-north retreat. Manistee Lake provides access to fishing, boating, and swimming. The area is near other lakes and the main ORV and snowmobile trail systems. The Manistee River is a short drive away. Located on a county-maintained asphalt road, the property has high-speed internet and natural gas available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Hotel & Motel Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalkaska
    County
    Kalkaska
    State
    Michigan
    Longitude
    -85.010324
    Latitude
    44.786746

    Nearby Similar for Sale

    • $839,650
      2,618 SF

      Turnkey Inn on Blue Bear Trail

      Established inn with modern facilities and prime trail access.
      19 W Bear Lake, Kalkaska, MI 49646
      View Details
    • $399,000
      5,920 SF

      Kalkaska Industrial Zoned Property

      Industrial property with heavy power, ample parking, and office space.
      103 S Essex Street, Kalkaska, MI 49646
      View Details
    • $450,000
      7,316 SF

      Kalkaska Industrial Property For Sale

      Versatile industrial property with office and warehouse space in Kalkaska.
      206 E Park Drive, Kalkaska, MI 49646
      View Details
    • $2,900,000
      31,000 SF

      Kalkaska Warehouse with Office Space

      31,000+ sqft warehouse with offices in Kalkaska, Michigan.
      210 W Park, Kalkaska, MI 49646
      View Details
    • $399,000
      5,920 SF

      Kalkaska Industrial Zoned Property

      Industrial property with heavy power and dedicated office space.
      103 S Essex Street, Kalkaska, MI 49646
      View Details
    • $39,900

      Kalkaska Vacant Land Near Recreation

      3.3-acre parcel near state land and Manistee River access.
      171 NE Kleehammer Club Drive, Kalkaska, MI 49646
      View Details
    • $64,000

      Forested Land Near Manistee Lake

      4.7 acres of forested land near Manistee Lake.
      5766 E Shore Drive, Kalkaska, MI 49646
      View Details
    • $39,900

      Vacant Land with Private Frontage

      2.2 acres of waterfront land with well in Kalkaska, MI.
      312 Blue Heron Drive, Kalkaska, MI 49646
      View Details
    • $150,000
      1,090 SF

      Kalkaska Office Building For Sale

      Office building in high-traffic location with many possibilities.
      522 S Cedar, Kalkaska, MI 49646
      View Details
    • $28,000

      Kalkaska Vacant Land Near Manistee Lake

      1.17-acre parcel near Manistee Lake, ideal for recreation.
      V/L NE County Road 612, Kalkaska, MI 49646
      View Details
    • $236,500

      Recreational Land Near Manistee Lake

      One acre property with heated pole barn near Sands Park.
      4063 NE Sands Park Drive, Kalkaska, MI 49646
      View Details
    • $37,900

      Kalkaska Land Near Amenities

      Wooded 0.6-acre parcel near town, golf, and Log Lake.
      1949 FAIRWAYS DRIVE, KALKASKA, MI 49646
      View Details

    FAQs

    What type of property is this?
    Land - 2.5-acre parcel in Kalkaska County with electric and well.
    Where is this land located?
    The property is located at 5038 NE East Shore Drive Kalkaska, MI.
    What is the asking price?
    The asking price for this property is $70,000.
    What are key features of this property?
    This property features: 2. 5‑acre wooded parcel with mature hardwoods offering beauty and privacy.; Electric and well already installed on the property.; Short walk to Manistee Lake with access to fishing, boating, and swimming.
    (231) 645-3767
    We can help!
    Listing Contact
    Frank Franco
    Frank Franco
    Real Estate License ID: 6 5 0 1 4 2 4 5 2 6
    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
    5038 NE East Shore Drive, Kalkaska, MI 49646-9092
    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!