Houghton Lake Waterfront Commercial
8848 State Avenue, Houghton Lake, MI 48629
New
COMMERCIAL - Houghton Lake, MI
Type:Retail
Property size:
2,880 SFLot size:
0.32 AcresPrice / SF:
$147/SF- Added:
- May 22, 2026
- Days on Market:
- 1
- Last Refresh:
- May 22 at 1:06 pm
Property Features for 8848 State Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- C-W
- Parking features
- Parking Lot
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 006-120-010-1000
- Size
- 2,880 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- 1111/1533 1111/1532 970/1799 L951/P2607 L833/P6 L383/P502 234 LOTS 10, 11 & 12 BEBEE SUBD SPLIT/COMBINED ON 11/22/2019 FROM 006-120-010-0000, 006-120-011-0000;
- Tax Annual Amount
- 3706
Utilities
- Water source
- Well
- Water front
- 1
Building Details
- Floors in Building
- 1
Listing agent Laura Corpe License #6501426430 (989) 387-8067
Listing office KW Northern Michigan Team Partners 4556 W Higgins Lake Dr, Roscommon, MI (989) 745-8992
Listing date May 22, 2026
MLS# 201840270
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.
HighLights
- Prime commercial waterfront property with 138 feet of canal frontage and direct access to Houghton Lake.
- Zoned commercial waterfront, allowing for diverse business opportunities and potential for special exception uses.
- Established business location: The iconic Navajo Trading Post, the area's only dedicated gift store.
- Existing income from five rented boat slips.
- Flexible owner‑operator setup: Rear portion of the building currently used as residential living quarters and storage.
- High visibility and recognition as one of the oldest buildings in Houghton Lake.
Overview
The iconic Navajo Trading Post in Houghton Lake is available. This commercial/residential waterfront property is located on the southwest side of Houghton Lake and offers potential for investors, entrepreneurs, or those looking to live and work in one location. Zoned commercial waterfront, the property features 138 feet of canal frontage with direct access to Houghton Lake. All five boat slips are currently rented for the season. As one of the oldest buildings in Houghton Lake, this spacious property offers flexibility for commercial opportunities. Permitted uses include motels, retail shops, restaurants, and single-family dwellings. Special exception uses may include condominiums, microbreweries, and marinas. The rear portion of the building is currently utilized as residential living quarters and storage space, creating an opportunity for an owner-operator setup. The property has 0.32 acres and a building size of 2880 square feet. The property is located in Houghton Lake, MI. The property is zoned C-W. This property is suitable for expanding a business, investing in waterfront property, or bringing a new vision to life.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$243.6K
NOI $21,926 @ 9.00% cap · cautious / downside scenario
Moderate
$313.2K
NOI $21,926 @ 7.00% cap · market / base-case scenario
Aggressive
$438.5K
NOI $21,926 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.4k | $14.04 |
| − Vacancy | −$11.2k | −$3.89 |
| EGI | $29.2k | $10.15 |
| − OpEx | −$7.3k | −$2.54 |
| NOI | $21.9k | $7.61 |
2,880 SF · lease $14.04/SF/yr · vacancy 27.70% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$313.2K
$274.1K – $365.4K
NOI $21,926 @ 7.0% cap · market cap 5.16%
Second Best
Retail
$297.9K
$260.7K – $347.6K
NOI $20,854 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$474.0K
$414.7K – $553.0K
NOI $33,178 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Houghton Lake
- County
- Roscommon
- State
- Michigan
- Longitude
- -84.791844
- Latitude
- 44.33612
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Unique commercial/residential property with waterfront access and endless potential.
Where is this storefront property located?
The property is located at 8848 State Avenue Houghton Lake, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime commercial waterfront property with **138 feet of canal frontage** and direct access to Houghton Lake.; Zoned commercial waterfront, allowing for diverse business opportunities and potential for special exception uses.; Established business location: The iconic Navajo Trading Post, the area's only dedicated gift store.
