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    5973 W M-72 Highway Grayling, MI 49738

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    Claim this Listing
    For Sale
    $950,000

    COMMERCIAL - Grayling, MI

    Lot size:
    16.00 Acres
    Added:
    Oct 17, 2025
    Days on Market:
    197
    Last Refresh:
    May 1 at 8:06 pm

    Property Features for 5973 W M-72 Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    402 & 201
    Parking features
    Assigned, Parking Lot
    Basement
    Crawl Space
    Standard status
    Active
    APN
    040-41-018-06-020-00, 060 & 040, 007-11-045-00
    Lot size
    16.00 Acres

    Taxes and HOA fees

    Tax Description
    PART OF SEC 18 AND SEC 7, T26N-R3W

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well
    Water front
    1

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Mary E. Becker

    Listing agent Mary E. Becker License #6504357853

    Listing office Heart of Up North Realty, LLC 9947 Outing PL, Grayling, MI

    Listing date Oct 17, 2025

    MLS# 201837672

    Copyright © 2026 Water Wonderland Board 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.

    Overview

    Finley's Riverside Cabins For Sale

    Finley's Riverside Cabins presents a remarkable business opportunity, situated on over 16 scenic wooded acres with over 1000 feet of AuSable River frontage. This well-established vacation rental business features 7 beautifully remodeled cabins with modern amenities. The property is located on a bustling stretch of M-72, just west of downtown Grayling, Michigan. The business is open year-round and experiences growing repeat business annually. An outdoor pavilion offers seating for 80, suitable for weddings, graduations, reunions, and parties. A secluded riverside ceremony space and ample parking are available. Several wooded walking trails lead to a canal off the river, a spring-fed pond, a kayak/canoe launch area, and multiple seating areas. The river bend is known as a prime trout fishing spot. The property includes an on-site caretaker's apartment, a John Deere lawn tractor/snowblower, 2 generators, and an Ankee Security System. The cabins are tastefully decorated and fully furnished. The year-round cabin foundations are protected by Foundation Systems of Michigan with a transferrable warranty and an extra foot of insulation. Window Source triple pane windows are installed for insulating efficiency. Roof Maxx treatment has been applied to the shingles. Grayling municipal water is coming soon. The zoning is 402 & 201.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Campgrounds

    Map

    City
    Grayling
    County
    Crawford
    State
    Michigan
    Longitude
    -84.72657
    Latitude
    44.656913

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    FAQs

    What type of property is this?
    Campground - Established vacation rental business on 16 acres with river frontage.
    Where is this campground located?
    The property is located at 5973 W M-72 Highway Grayling, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Established, turn‑key vacation rental business with repeat clientele and year‑round operation.; Enjoy **over 1000' of AuSable River frontage** on 16 scenic wooded acres, known for excellent trout fishing.; Seven beautifully remodeled and fully furnished cabins with modern amenities.
    (586) 242-1179
    We can help!
    Listing Contact
    Mary E. Becker
    Real Estate License ID: 6504357853
    Learn More
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    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.

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    5973 W M-72 Highway, Grayling, MI 49738

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