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

    62 Oak Drive Avenue, Gladstone, MI 49837

    View on Map
    Claim this Listing
    For Sale
    $57,500

    LAND - Gladstone, MI

    Lot size:
    1.80 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    28
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 62 Oak Drive Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.80 Acres

    Taxes and HOA fees

    Tax Annual Amount
    900

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    ARTHUR VANDAMME

    Listing agent ARTHUR VANDAMME License #6501432541

    Listing office COLDWELL BANKER SCHMIDT ESCANABA 110 N 13TH STREET, ESCANABA, MI

    Listing date Apr 24, 2026

    MLS# 50205281 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

    • Two desirable lots being sold together.
    • Located in a very desirable area.
    • Lots have been cleaned out, with most of the brush gone.
    • Good trees are left.
    • Public water source available.

    Overview

    Two lots are available for sale together in a desirable area. The lots have been cleaned out, with most of the brush removed while leaving the good trees. The combined lot size is 1.8 acres. The property is located in Gladstone, Michigan.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Gladstone
    County
    Delta
    State
    Michigan
    Longitude
    -87.0533
    Latitude
    45.8921

    Nearby Similar for Sale

    • $324,900
      2,584 SF

      Former Grocery Store with Potential

      Well-known former grocery store with multiple income opportunities.
      2821 S Hill Road, Gladstone, MI 49837
      View Details
    • $560,000
      2,560 SF

      110-Acre Farm with Modern Home

      Flat Rock farm featuring a 2022-built home and outbuildings.
      3624 21st, Gladstone, MI 49837
      View Details
    • $119,900
      1,480 SF

      Commercial Building with Apartment

      Commercial building with storefront and one-bedroom apartment in Gladstone.
      813 Delta Avenue, Gladstone, MI 49837
      View Details
    • $219,995
      3,694 SF

      Downtown Gladstone Mixed-Use Investment

      Turn-key mixed-use property in the heart of downtown Gladstone.
      905 Delta Avenue, Gladstone, MI 49837
      View Details
    • $11,500

      Residential Land in Gladstone, MI

      Large residential lot available for building a dream home.
      701 N 17TH STREET, GLADSTONE, MI 49837
      View Details
    • $255,000

      Prime Commercial Land on Highway

      2.1 acres of high-visibility commercial land on US Highway.
      US Hwy 2 & 41 Highway, Gladstone, MI 49837
      View Details
    • $925,000
      115,800 SF

      Industrial Space with Crane System

      115,800 SF industrial space featuring extensive crane system.
      103 N 12th St, Gladstone, MI
      View Details
    • $57,500

      Land in Desirable Gladstone Area

      Two cleaned lots in Gladstone, being sold together.
      62 OAK DRIVE AVENUE, GLADSTONE, MI 49837
      View Details
    • $78,000

      Residential Land Overlooking Little Bay

      Residential land in curated subdivision near Lake Bluff Country Club.
      7448 Lake Bluff 19.4 Road, Gladstone, MI 49837
      View Details
    • $349,900
      1,500 SF

      Gladstone Commercial Property For Sale

      1,500 sq ft commercial building on 0.29 acres.
      6998 US2 Highway, Gladstone, MI 49837
      View Details
    • $79,000

      Hardwood Land Parcel For Sale

      Ten acre wooded parcel perfect for building a dream home.
      26TH RD Parcel A, Gladstone, MI 49837
      View Details

    FAQs

    What type of property is this?
    Land - Two cleaned lots in a desirable area, sold together.
    Where is this land located?
    The property is located at 62 Oak Drive Avenue Gladstone, MI.
    What is the asking price?
    The asking price for this property is $57,500.
    What are key features of this property?
    This property features: Two desirable lots being sold together.; Located in a very desirable area.; Lots have been cleaned out, with most of the brush gone.
    (906) 553-2722
    We can help!
    Listing Contact
    ARTHUR VANDAMME
    Real Estate License ID: 6501432541
    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
    62 Oak Drive Avenue, Gladstone, MI 49837
    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!