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    2989 Houghton Lake Dr Houghton Lake, MI 48629

    Sponsored
    For Sale
    $249,900

    Four-unit complex, high-traffic location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a four-unit apartment complex situated on a prime commercial lot in Houghton Lake, Michigan. Located at 2989 W Houghton Lake Drive, 48629, this property boasts 47 feet of frontage on M-55, ensuring high visibility and accessibility. Previously a motel, the building has been thoughtfully converted into four individual units, each featuring a kitchenette and bathroom. In total, the complex offers six bedrooms and four bathrooms, providing ample space for residents or guests. The convenient location, directly behind Pop-A-Top, offers easy access to local amenities and high traffic volume. The property's configuration allows for various income-generating strategies, including on-site management or off-site landlord options. The asking price is $249,900. This property presents a unique opportunity for investors seeking a strong return on investment in a desirable location. The ample parking and private entrance from M-55 add to the property's appeal. This is a turnkey operation ready for immediate income generation or further development. The property is zoned for commercial use and offers significant potential for future growth and expansion. Don't miss this chance to acquire a well-positioned, income-producing asset in a thriving Michigan community.

    Property Features for 2989 Houghton Lake Dr

    General Information

    Property type
    Land

    HighLights

    • Four‑unit apartment complex on a prime commercial lot in Houghton Lake, MI.
    • 47 feet of M‑55 frontage provides high visibility and accessibility.
    • Converted motel with four units, each featuring a kitchenette and bathroom; six bedrooms and four bathrooms total.
    • Located behind Pop‑A‑Top, offering high traffic and convenient access to amenities.
    • $249,900 asking price; turnkey operation with potential for immediate income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Hotel & Motel Department Store Cafe & Coffee Shop Storage Facility Travel Agency Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.6978678
    Latitude
    44.2980765

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    FAQs

    What type of property is this?
    Land - Four-unit complex, high-traffic location.
    Where is this land located?
    The property is located at 2989 Houghton Lake Dr Houghton Lake, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Four-unit apartment complex on a prime commercial lot in Houghton Lake, MI.; 47 feet of M-55 frontage provides high visibility and accessibility.; Converted motel with four units, each featuring a kitchenette and bathroom; six bedrooms and four bathrooms total.
    Request Owner's contact information
    2989 Houghton Lake Dr Houghton Lake, MI 48629
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    Realmo Value Estimation

    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.

    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.

    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
    2989 Houghton Lake Dr Houghton Lake, MI 48629
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