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    7775 Saddlebag Lake Rd Lake Odessa, MI 48849

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    For Sale
    $395,000

    Commercial property with high exposure along M-66, near I-96.

    Type:Commercial
    Property size:
    4,800 SF
    Added:
    Mar 30, 2026
    Days on Market:
    31
    Last Refresh:
    Mar 30 at 4:18 am

    Property Features for 7775 Saddlebag Lake Rd

    General Information

    Standard status
    Active
    Size
    4,800 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Caren L Dermody

    Listing agent Caren L Dermody

    Listing office

    Listing date Mar 30, 2026

    Source Elliman

    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 Caren L Dermody

    Overview

    M-66 Commercial Property For Sale

    Located east of Lake Odessa and less than 10 minutes south of I-96, this commercial property offers high exposure along M-66. The current zoning is C-1, which allows for many different uses. The main building provides 3200 square feet of space, with an additional attached 1600 square feet of office or showroom space that includes 2 bathrooms. The property features a large, paved parking area.
    Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Bob's Auto Sales Car Dealership JMG Customs 4x4 ... Car Dealership KDS Motorsports LLC Car Dealership

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Skin Care Clinic Storage Facility HVAC Service Garden Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Odessa
    County
    Ionia
    State
    Michigan
    Longitude
    -85.07493
    Latitude
    42.76499

    Nearby Similar for Sale

    • $300,000
      900 SF

      Lake Odessa Commercial Opportunity

      1.42 acres with 900 sqft building near I-96.
      7225 Saddlebag Lake Road, Lake Odessa, MI 48849
      View Details
    • $160,000
      900 SF

      Lake Odessa Commercial Opportunity

      0.42 acres with a 900 sqft building for sale.
      7225 Saddlebag Lake Road, Lake Odessa, MI 48849
      View Details
    • $399,900
      3,600 SF

      Prime Location Retail Opportunity

      High-exposure retail space in Woodbury, near Lake Odessa.
      11994 W Grand Ledge Highway, Lake Odessa, MI 48849
      View Details
    • $1,265,000
      13,200 SF

      Established Retail Building in Lake Odessa

      Two-tenant retail building with long-term leases in Lake Odessa, MI.
      820 Jordan Lake Ave, Lake Odessa, MI 48849
      View Details

    FAQs

    What type of property is this?
    Showroom - Commercial property with high exposure along M-66, near I-96.
    Where is this showroom located?
    The property is located at 7775 Saddlebag Lake Rd Lake Odessa, MI.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: High exposure location along M‑66.; Zoned C‑1, offering many different uses.; Main building is **3200 sq. ft.**
    (616) 617-9860
    We can help!
    Listing Contact
    Caren L Dermody
    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.

    More about this property
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