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    9239 E 8 Mile Rd Luther, MI 49656

    Sponsored
    For Sale
    $1,189,000

    168 Acre Northern Michigan Start Up Campground

    Property size:
    3,000 SF

    Description

    Added:
    Feb 2, 2026
    Days on Market:
    1
    This is a rare opportunity to acquire a large-scale Northern Michigan hospitality-ty and lifestyle
    property located directly across from the Manistee National Forest—one of the Midwest’s premier
    outdoor destinations. Spanning approximately 168 heavily wooded acres, the property offers
    immediate access to over 840 square miles of public land and more than 330 miles of trails,
    creating an exceptional and difficult-to-replicate setting.

    Currently operated as a private residence with established rental income, the property is well
    suited for expansion as a campground, glamping retreat, eco-lodge, or destination hospitality
    business. Strong regional demand for outdoor recreation, combined with the property’s size,
    infrastructure, and location, pro-vides meaningful upside for future owners.
    Existing Improvements & Income Infrastructure
    The property includes multiple income-producing and guest-ready structures, including a large
    year-round custom yurt, a two-bedroom shipping container home, a modern bathhouse with hot tub, and
    four established glamping tents.
    Additional improvements include a large pole barn for storage or operations, livestock pens, a
    scenic pond, and more than five miles of private internal trails that enhance both guest experience
    and operational flexibility. Utilities include traditional electric service combined with a
    renewable solar power system, reducing operating costs and appealing to eco-conscious guests.
    Location & Recreational Appeal
    The lifestyle offering is exceptional, with direct proximity to the Manistee National Forest, easy
    access to ORV and trail systems, and nearby Little Manistee and Pine River access for fishing,
    kayaking, and paddling. The area supports year-round recreation including hunting, hiking, and
    riding, delivering an authentic Northern Michigan experience that balances privacy, nature, and
    accessibility.

    Development Flexibility

    The township has no zoning restrictions, with only county and state requirements, offering rare
    flexibility for future development. New ownership may expand the existing hospitality operation, add
    lodging or campsites, or enjoy the property as a private retreat with income potential.

    Property Features for 9239 E 8 Mile Rd

    General Information

    Property type
    Campgrounds
    Square Feet
    3,000 SF
    Class
    A
    Total Parking Spaces
    30
    Elevators
    N/A
    Lot Size
    7,318,080 SF

    Building Details

    Year Built/Renovated
    2024/2024
    Buildings
    7
    Stories
    1

    We can help!

    Listing Contact
    Kenneth Weaver

    Learn more

    Location Intelligence

    Current Use by Public Records

    Campgrounds

    Map

    City
    Luther
    State
    Michigan
    Longitude
    -85.622316
    Latitude
    44.103644

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    FAQs

    What type of property is this?
    Campground - 168 Acre Northern Michigan Start Up Campground
    Where is this campground located?
    The property is located at 9239 E 8 Mile Rd Luther, MI.
    What is the asking price?
    The asking price for this property is $1,189,000.
    (231) 357-0821
    Request Owner's contact information
    9239 E 8 Mile Rd Luther, MI 49656
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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
    9239 E 8 Mile Rd Luther, MI 49656
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    We can help!
    Listing Contact
    Kenneth Weaver
    (231) 357-0821
    Learn more
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