Lake-View Build-Ready Land with Electric Pole
For Sale
$85,000
6743 Beach Rd, Johannesburg, MI 49751
Two adjoining lake-view lots with installed driveway and a 24x24 electric pole building for flexible build plans.
Property Size576 SF
Price / SF$147.57
Days on Market52
Property Features for 6743 Beach Rd
General Information
Standard status
Active
Size
576 SF
Property subtype
Land
Listing Agency:
eXp Realty LLC
(231) 633-8942
Listed By:
Beth Olosky · License #6501424604
(231) 633-8942
Source:
Elliman
Added: Jun 19
Changed: Aug 8
Last Checked: Jul 16 at 4:55AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This listing includes two adjoining lots positioned to capture lake views and a “water all around” feel between Little Bear Lake and Big Bear Lake. The property is presented as build-ready land, with an installed driveway already in place. For immediate use, there is a 24x24 pole building with electric power available, providing a practical base for storing tools and equipment now, with room to support future home or cabin plans.
The site’s setting is centered on the lake corridor experience, with scenic outlooks intended to keep the property connected to the surrounding water. Based on the provided mobility scores, the location is car-dependent, which is consistent with access patterns for out-lake properties.
This is a straightforward choice for buyers looking for versatile land with meaningful existing improvements rather than raw, unimproved acreage. The driveway and electric-equipped pole building can help simplify early steps for a future build, while the two-lot configuration offers flexibility for how the site is planned for a home, cabin, or long-term use.
The site’s setting is centered on the lake corridor experience, with scenic outlooks intended to keep the property connected to the surrounding water. Based on the provided mobility scores, the location is car-dependent, which is consistent with access patterns for out-lake properties.
This is a straightforward choice for buyers looking for versatile land with meaningful existing improvements rather than raw, unimproved acreage. The driveway and electric-equipped pole building can help simplify early steps for a future build, while the two-lot configuration offers flexibility for how the site is planned for a home, cabin, or long-term use.
Key Highlights
- Two adjoining lake‑view lots located between Little Bear Lake and Big Bear Lake
- Scenic lake views with water all around
- Driveway already installed on the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,805
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$156,100
$156.1K
Cap Rate 7%
$111,500
$111.5K
Cap Rate 9%
$86,722
$86.7K
Market Conditions
NOI Build-Up for 576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$12.3K $21.36/SF
− Vacancy
−$295 −$0.51/SF
EGI
$12.0K $20.85/SF
− OpEx
−$4.2K −$7.30/SF
NOI
$7.8K $13.55/SF
Area
Otsego County, MI
Vacancy
2.40%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$156,100
Cap Rate 7%
$111,500
Cap Rate 9%
$86,722
Alternative Uses
Best Use
Industrial
$649.7K
$568.5K – $758.0K
NOI $45,481 @ 7.0% cap · market cap 53.51%
Second Best
Flex RnD
$111.5K
$97.6K – $130.1K
NOI $7,805 @ 7.0% cap · market cap 9.18%
Theoretical Best
Warehouse
$789.0K
$690.3K – $920.5K
NOI $55,227 @ 7.0% cap · market cap 64.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 49751, MI
2,014
Population
1,765
Households
1.1
Avg Household Size
53
Median Age
24%
College-Educated
93%
High-School Grad
155.1 sq mi
ZIP Area
13
Density / Sq Mi
$65,833
Median Household Income
$35,595
Median Earnings
$863
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Two adjoining lake-view lots with installed driveway and a 24x24 electric pole building for flexible build plans.
Where is this residential land & home lot located?
The property is located at 6743 Beach Rd Johannesburg, MI.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Two adjoining lake‑view lots located between Little Bear Lake and Big Bear Lake; Scenic lake views with water all around; Driveway already installed on the property
