Mixed-Use Property with Large
For Sale
$675,000
5783 W Houghton Lake Drive, Houghton Lake, MI 48629
A residence with multiple en suites pairs with a substantial shop featuring a built-in lounge.
Property Size6,750 SF
Price / SF$100
Days on Market13
Property Features for 5783 W Houghton Lake Drive
General Information
Standard status
Active
Size
6,750 SF
Zoning
Commercial/Res
Amenities
outdoor putting green
rooftop deck
built-in lounge area
No
0.67
0.67 acres
Blacktop
6750.0
Building Details
Building Size
6,750 SF
Listing Agency:
(989) 273-3883
Listed By:
Bailey Millikin
Source:
Graylingrealestate
Added: Oct 19
Changed: Oct 31
Last Checked: Oct 31 at 2:03AM
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 Bailey Millikin
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Investment Insights
Based on property information with market context.
This mixed-use property combines approximately 2,750 square feet of residential space with a 50' x 80' shop. The home has multiple en suites and spacious gathering areas, while the shop includes a built-in lounge. Commercial/Res zoning is in place, and the parcel contains 0.67 acres.
Outdoor features include a rooftop deck with views of Houghton Lake and a putting green. The shop provides space for vehicles, boats, storage, hobbies, or business activity.
Outdoor features include a rooftop deck with views of Houghton Lake and a putting green. The shop provides space for vehicles, boats, storage, hobbies, or business activity.
Key Highlights
- Approximately 2,750 sq. ft. of residential space
- 50' x 80' shop with a built‑in lounge
- Commercial/Res zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,334
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,680
$946.7K
Cap Rate 7%
$676,200
$676.2K
Cap Rate 9%
$525,933
$525.9K
Market Conditions
NOI Build-Up for 6,750 SF
Gross rent
$89.1K $13.20/SF
− Vacancy
−$13.4K −$1.98/SF
EGI
$75.7K $11.22/SF
− OpEx
−$28.4K −$4.21/SF
NOI
$47.3K $7.01/SF
Area
Roscommon County, MI
Vacancy
15.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,680
Cap Rate 7%
$676,200
Cap Rate 9%
$525,933
Alternative Uses
Best Use
Mixed Use
$676.2K
$591.7K – $788.9K
NOI $47,334 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$409.5K
$358.3K – $477.8K
NOI $28,667 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.11M
$972.0K – $1.30M
NOI $77,760 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
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Business Placement
Demographics for 48629, MI
7,420
Population
7,248
Households
1
Avg Household Size
56
Median Age
18%
College-Educated
90%
High-School Grad
77.5 sq mi
ZIP Area
96
Density / Sq Mi
$54,622
Median Household Income
$33,544
Median Earnings
$784
Median Rent
$142,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A residence with multiple en suites pairs with a substantial shop featuring a built-in lounge.
Where is this mixed-use property located?
The property is located at 5783 W Houghton Lake Drive Houghton Lake, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Approximately 2,750 sq. ft. of residential space; 50' x 80' shop with a built‑in lounge; Commercial/Res zoning
