Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pentwater Land For Sale Title is generated by Realmo AI

    5164 Monroe Road, Pentwater, MI 49449

    View on Map
    Claim this Listing
    For Sale
    $795,000

    Commercial land available west of US31 in Pentwater, Michigan.

    Added:
    Mar 24, 2026
    Days on Market:
    66
    Last Refresh:
    May 24 at 6:45 am

    Property Features for 5164 Monroe Road

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Katie Saunders

    Listing agent Katie Saunders

    Listing office Five Star Real Estate - Town Square Group Pentwater

    Listing date Mar 24, 2026

    Source Evrealestate

    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 Five Star Real Estate - Town Square Group Pentwater

    HighLights

    • Water view to enjoy from your new home
    • Includes a dock, perfect for boating enthusiasts
    • Central air conditioning for year‑round comfort
    • Natural gas heating available
    • Forced air heating also included
    • Built in 1930

    Overview

    This commercial land is located west of US31, accessible from the Monroe Road exit. Situated on the right side heading west, the property is just west of Longbridge Road in Pentwater, Oceana County, Michigan.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Hotel & Motel Bar & Pub Bed & Breakfast Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Pentwater
    County
    Oceana
    State
    Michigan
    Longitude
    -86.410505
    Latitude
    43.766964

    Nearby Similar for Sale

    • $649,900
      8,292 SF

      Historic Pentwater Landmark For Sale

      Historic building in Pentwater Village, ideal for adaptive reuse.
      327 S Hancock Street, Pentwater, MI 49449
      View Details
    • $1,200,000

      Lake Michigan Beachfront Land

      1.3 acre beachfront property with 200 feet of frontage.
      S Montgomery Boulevard, Pentwater, MI 49449
      View Details
    • $375,000
      1,395 SF

      Established Bakery in Downtown Pentwater

      Well-established 1,300 SF bakery with lake views for sale.
      560 N Hancock Street, Pentwater, MI 49449
      View Details
    • $99,500

      Pentwater Village Building Site

      Wooded lot near downtown and Lake Michigan Beach.
      PARCEL B E SANDS STREET, PENTWATER, MI 49449
      View Details
    • $650,000
      865 SF

      Established Winery Near Lake Michigan

      Turnkey winery opportunity on 10 acres near Lake Michigan.
      7397 S Pere Marquette Highway, Pentwater, MI 49449
      View Details
    • $99,500

      Pentwater Village Building Site

      Wooded lot near downtown and Lake Michigan Beach.
      Parcel B E Sands Street, Pentwater, MI 49449
      View Details
    • $119,999

      Land in Pentwater, Michigan

      Land with development potential near Lake Michigan in Pentwater.
      704 N MORRIS STREET, PENTWATER, MI 49449
      View Details
    • $675,000
      4,452 SF

      Established Restaurant in Pentwater, MI

      Well-known restaurant with liquor license, FF&E, and outdoor patio.
      Pentwater, MI 49449
      View Details
    • $69,000

      Secluded Building Site Near Pentwater

      Wooded 0.95-acre building site near Pentwater Lake.
      Mohawk Street, Pentwater, MI 49449
      View Details
    • $119,999

      Pentwater Land with Development Potential

      Land in Pentwater, MI, offering development or versatile ownership.
      704 N Morris Street, Pentwater, MI 49449
      View Details
    • $175,000

      Pentwater Residential Lot For Sale

      Three-acre residential lot in Pentwater Village, walking distance to amenities.
      vl 3rd Avenue, Pentwater, MI 49449
      View Details
    • $1,100,000

      Lake Michigan Wooded Waterfront Land

      Rare 0.71-acre Lake Michigan property with 110 feet of frontage.
      5271 Lake Breeze Drive, Pentwater Vlg, MI 49449
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available west of US31 in Pentwater, Michigan.
    Where is this commercial land located?
    The property is located at 5164 Monroe Road Pentwater, MI.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Water view to enjoy from your new home; Includes a dock, perfect for boating enthusiasts; Central air conditioning for year‑round comfort
    (231) 690-3605
    We can help!
    Listing Contact
    Katie Saunders
    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
    5164 Monroe Road, Pentwater, MI 49449
    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!