Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land Parcel with Highway Access Title is generated by Realmo AI

    00 S Park, Benzonia, MI 49616

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Open land parcel with deeded highway access and utilities.

    Type:Land
    Added:
    Aug 16, 2024
    Days on Market:
    656
    Last Refresh:
    May 12 at 9:29 pm

    Property Features for 00 S Park

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Robert Weisbrodt

    Listing agent Robert Weisbrodt License #6505229531

    Listing office Real Estate One Beulah

    Listing date Aug 16, 2024

    Source Crexi

    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 Real Estate One Beulah

    HighLights

    • Deeded access to US 31.
    • Percable soil.
    • Utilities close by.
    • Mostly open land.
    • Access through Tractor Supply.
    • Adjacent to US 31 (behind).

    Overview

    This for sale land parcel is mostly open with brush and not tall trees. It features deeded access to US 31 through Tractor Supply and an adjacent area. The soil is percable, and utilities are located close to the property.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Benzonia
    County
    Benzie
    State
    Michigan
    Longitude
    -86.0759
    Latitude
    44.5694

    Nearby Similar for Sale

    • $149,900
      1,500 SF

      Storage Condo in Benzonia, MI

      Luxury storage condo near Crystal Lake Boat Launch.
      6868 South Street, Benzonia, MI 49616
      View Details
    • $450,000
      5,975 SF

      Benzonia Commercial Property for Sale

      Retail property in Benzonia, MI, spanning 5,975 square feet.
      1020 Michigan Avenue, Benzonia, MI 49616
      View Details
    • $150,000

      Benzonia Vacant Land Opportunity

      Vacant land in Benzie County near Crystal and Michigan Lakes.
      1452 Case Road, Benzonia, MI 49616
      View Details
    • $65,000

      Wooded Land in Joyfield Township

      5.25 acres of wooded land ready for development.
      00 DEMERLY ROAD, JOYFIELD TWP, MI 49616
      View Details
    • $225,000
      2,381 SF

      Retail Condo in High-Traffic Area

      Retail condo in a busy, well-located retail center.
      1681 Benzie Highway, Benzonia, MI 49616
      View Details
    • $189,000

      Historic Barn on 8+ Acres

      Unique property with historic barn and development potential in Benzonia.
      7699 Benzie Highway, Benzonia, MI 49616
      View Details
    • $65,000

      Wooded Land in Benzonia, MI

      5.25 acres of wooded land, ideal for cabin or home.
      00 DEMERLY ROAD, BENZONIA, MI 49616
      View Details
    • $225,000
      2,381 SF

      Retail Condo in Benzonia

      Retail condo unit in high-traffic location near Crystal Lake.
      1681 Benzie Hwy, Benzonia, MI 49616
      View Details
    • $124,000

      Wooded Acreage in Northern Michigan

      8.08 acres near state land, rivers, and resorts.
      5766 Wallaker Road, Benzonia, MI 49616
      View Details
    • $124,000

      Wooded Acreage in Benzie County

      8.08 acres near state land, rivers, and resorts.
      5766 WALLAKER ROAD, BENZONIA, MI 49616
      View Details
    • $245,000

      Benzonia Acreage: Recreation and Conservation

      47+ acres with conservation easement in Benzie County, Michigan.
      Love Road, Benzonia, MI 49616
      View Details
    • $124,000

      Wooded Acreage in Benzie County

      8.08 acres near state land, rivers, and resorts.
      5766 WALLAKER ROAD, BENZONIA, MI 49616
      View Details

    FAQs

    What type of property is this?
    Land - Open land parcel with deeded highway access and utilities.
    Where is this land located?
    The property is located at 00 S Park Benzonia, MI.
    What is the asking price?
    The asking price for this property is $50,000.
    What are key features of this property?
    This property features: Deeded access to US 31.; Percable soil.; Utilities close by.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Weisbrodt
    Real Estate License ID: 6505229531
    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
    00 S Park, Benzonia, MI 49616
    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!