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    8646 Thendara Boulevard Independence Twp, MI 48348

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    For Sale
    $799,900

    MULTI_FAMILY - Other - Independence Twp, MI

    Property size:
    6,200 SF
    Price / SF:
    $129/SF
    Added:
    Oct 15, 2025
    Days on Market:
    205
    Last Refresh:
    May 7 at 4:06 pm

    Property Features for 8646 Thendara Boulevard

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family,Residential
    Bedrooms
    2
    Bathrooms
    4
    Rooms
    Bathroom 3, Bedroom 2, Bathroom 4, Basement, Bathroom 2, Bathroom 1, Bedroom 1
    Pets allowed
    Yes
    Standard status
    Active
    APN
    0812356031
    Size
    6,200 SF

    Taxes and HOA fees

    Tax Description
    T4N, R9E, SEC 12 THENDARA PARK COUNTRY CLUB LOTS 12 TO 16 INCL BLK 5
    Tax Annual Amount
    14689

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Baseboard, Forced Air, Radiant
    Water source
    Well
    Water front features
    Lake, Lake Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1930
    Floors in Building
    3
    Number of units
    7
    Building materials
    Log
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Lia LoChirco

    Listing agent Lia LoChirco License #6501272289

    Listing office LoChirco Realty, LLC 202 Walnut Ste. B, Rochester, MI

    Listing date Oct 15, 2025

    MLS# 20251045982 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Authentic 1930 log cabin with over 6,000 sq ft of living space across two lodges on Walters Lake.
    • Enjoy 38 feet of private lake frontage on an all‑sports lake, perfect for boating and year‑round enjoyment.
    • Currently a successful short‑term rental property generating income.
    • Main lodge features a 17‑foot stone fireplace, spacious loft‑style bedrooms, and nearly 1,000 sq ft of decking.
    • Guest house with two private living quarters and a two‑car garage.
    • Bluff‑top setting with spectacular views and a private road.

    Overview

    Log Cabin on Walters Lake

    This multi-family property, known as The Squirrels Nest Lodge, features a true log cabin on Walters Lake. The main lodge, built in 1930 with locally sourced timbers from Metamora, offers over 3,200 square feet of living space. It includes a 17-foot stone fireplace and loft-style bedrooms. Nearly 1,000 square feet of decking provides views of Walters Lake. The carriage house has been renovated into a guest house with two private living quarters and a two-car garage. The property offers a total of 9 bedrooms, 4 kitchens, and over 6,000 square feet of living space. A private bluff-top setting provides views, and private stairs lead to 38 feet of direct frontage on the all-sports lake. The property is currently operated as a short-term rental and is continuously updated. It is located in Independence Twp, Oakland County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Nail Salon Accounting Firm Big Box & Wholesale Store Daycare Center Kitchen & Bath Showroom Electronics & Wireless Store Computer & Electronic Repair Electrical Service Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence Twp
    County
    Oakland
    State
    Michigan
    Longitude
    -83.349614
    Latitude
    42.764894

    FAQs

    What type of property is this?
    Short term rental property - Historic log cabin with lake frontage, ideal for entertaining.
    Where is this short term rental property located?
    The property is located at 8646 Thendara Boulevard Independence Twp, MI.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Authentic 1930 log cabin with over 6,000 sq ft of living space across two lodges on Walters Lake.; Enjoy **38 feet of private lake frontage** on an all‑sports lake, perfect for boating and year‑round enjoyment.; Currently a successful short‑term rental property generating income.
    (248) 895-9429
    We can help!
    Listing Contact
    Lia LoChirco
    Real Estate License ID: 6501272289
    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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