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

    54821 S Tear Lake Road, Houghton, MI 49931

    View on Map
    Claim this Listing
    Pending
    $249,900

    LAND - Houghton, MI

    Lot size:
    8.70 Acres
    Added:
    May 1, 2026
    Days on Market:
    22
    Last Refresh:
    May 22 at 4:06 am

    Property Features for 54821 S Tear Lake Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    8.70 Acres

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    JOSH STEIN
    JOSH STEIN

    Listing agent JOSH STEIN License #6502371572

    Listing office NORTHERN MICHIGAN LAND BROKERS - H 405 Sheldon Avenue, Houghton, MI

    Listing date May 1, 2026

    MLS# 50206104 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

    • Private lakefront property with 240' of frontage on Tear Lake.
    • 8.7 acre surveyed property with a large pole barn.
    • Year‑round county road access and electricity already brought in.
    • Located minutes from Lake Superior, Breakers, and the city of Houghton.
    • Features a trail system through a mature forest with old growth trees.
    • No zoning in Stanton Township.

    Overview

    This 8.7-acre surveyed property in Stanton Township offers privacy and features 330' of dead end road frontage on Tear Lake Road, along with approximately 240' of lakefront on private Tear Lake. A large pole barn is included. The property has year-round county road access and already has electricity brought in. A trail system provides access to the forest, which includes old growth red oak trees, mature maple, and red pine. The spring-fed private lake is suitable for fishing, boating, swimming, and kayaking. Additional acreage is available. The property is located minutes from Breakers, Lake Superior, and the city of Houghton. There is no zoning in Stanton Township.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Houghton
    County
    Houghton
    State
    Michigan
    Longitude
    -88.659772
    Latitude
    47.207357

    Nearby Similar for Sale

    • $1,250,000
      6,927 SF

      Remodeled Restaurant on US41 Highway

      Remodeled restaurant near Michigan Tech and recreational trails.
      47409 US41 Highway, Houghton, MI 49931
      View Details
    • $275,000
      2,624 SF

      Houghton Duplex Investment Opportunity

      Up-and-down duplex, potential single-family conversion in 2027.
      309 W Montezuma Avenue, Houghton, MI 49931
      View Details
    • $368,000

      Houghton Vacant Commercial Land

      8.7 acre commercial property in Houghton, Michigan for sale.
      47663 Main Street, Houghton, MI 49931
      View Details
    • $499,900

      Houghton Land Development Opportunity

      75+ acres of prime land in Houghton, Michigan.
      Cedar Street, Houghton, MI 49931
      View Details
    • $39,900

      Houghton Land Ready For Development

      Vacant land zoned R-3, ideal for residential development.
      TBD2 Datolite Street, Houghton, MI 49931
      View Details
    • $79,900

      Wooded Acreage Near Lake Superior

      7.56 acres of pristine wooded land near Houghton.
      TBD75 S Tear Lake Road, Houghton, MI 49931
      View Details
    • Contact for pricing

      Premier Student Housing Community

      A 428-bed student housing community near Michigan Tech.
      408 Fairview St, Houghton, MI 49931
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Private 8.7-acre lakefront property with pole barn near Houghton.
    Where is this waterfront land located?
    The property is located at 54821 S Tear Lake Road Houghton, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Private lakefront property with **240' of frontage on Tear Lake.**; **8.7 acre surveyed property** with a large pole barn.; Year‑round county road access and electricity already brought in.
    (906) 370-4898
    We can help!
    Listing Contact
    JOSH STEIN
    JOSH STEIN
    Real Estate License ID: 6502371572
    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
    54821 S Tear Lake Road, Houghton, MI 49931
    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!