Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Corner Commercial Development Land Title is generated by Realmo AI

    730 W Houghton Lake Drive, Prudenville, MI 48651

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    High-visibility corner lot suitable for commercial development.

    Type:Retail, Special Purpose
    Property size:
    3,059 SF
    Price / SF:
    $208/SF
    Added:
    Jul 14, 2022
    Days on Market:
    1419
    Last Refresh:
    May 12 at 8:16 pm

    Property Features for 730 W Houghton Lake Drive

    General Information

    Standard status
    Active
    Size
    3,059 SF
    Property subtype
    Retail, Special Purpose

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Ruth Clemens
    Ruth Clemens

    Listing agent Ruth Clemens License #65-06043271

    Listing office Coldwell Banker Commercial Schmidt, Realtors Prudenville

    Listing date Jul 14, 2022

    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 Coldwell Banker Commercial Schmidt, Realtors Prudenville

    HighLights

    • Prime corner lot location at the intersection of M‑18 South & M‑55.
    • High visibility due to its location across from Walgreens at a five‑corner stop light.
    • Zoned Village Mixed Use, allowing for numerous development options.
    • Ideal for commercial development.
    • Great exposure to traffic.
    • Adjacent lakefront vacant lot available for additional purchase.

    Overview

    Located at the corner of M-18 South and M-55, this property is situated across from Walgreens. The site benefits from a five-corner stop light location, offering high visibility and exposure. Zoned Village Mixed Use, the property presents numerous options for development. The property size is 3059 square feet. An adjacent lakefront vacant lot is also available for purchase.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Prudenville
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.651367
    Latitude
    44.299488

    Nearby Similar for Sale

    • $749,000
      6,791 SF

      Versatile Commercial Property in Prudenville

      High-visibility commercial building suitable for diverse business operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $749,000
      6,791 SF

      Versatile Commercial Property in Prudenville

      High-visibility commercial building suitable for diverse business operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $350,000
      14,810 SF

      Versatile Commercial Building Near Houghton Lake

      Commercial building near Houghton Lake suitable for retail, office, or apartments.
      960 W Houghton Lake, Prudenville, MI 48651
      View Details
    • $550,000
      7,872 SF

      Prudenville Warehouse with Guaranteed Income

      Warehouse property in Prudenville, MI with guaranteed annual income.
      618 W West Branch Road, Prudenville, MI 48651
      View Details
    • $550,000
      7,872 SF

      Prudenville Commercial Property for Sale

      Commercial property in Prudenville, MI with guaranteed annual income.
      618 West Branch Road, Prudenville, MI 48651
      View Details
    • $360,000
      2,880 SF

      Profitable Car Wash Investment Opportunity

      Well-maintained car wash on a high-traffic corridor near Houghton Lake.
      225 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $360,000

      Profitable Car Wash Investment Opportunity

      Well-maintained car wash on Highway M-55 near Houghton Lake.
      225 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $685,000

      Prudenville Commercial Opportunity on M-55

      Well-maintained commercial building with flexible layout in high-traffic location.
      2121 West Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $685,000

      Prime Commercial Opportunity in Prudenville

      Well-maintained commercial building with flexible layout in high-traffic location.
      2121 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $749,000
      6,791 SF

      Versatile Commercial Property For Sale

      High-traffic location suitable for retail, service, or mixed commercial operations.
      1200 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $1,199,999

      Hospitality Investment Opportunity in Prudenville

      Hospitality and resort investment opportunity on Houghton Lake's East Bay.
      104 W Houghton Lake Drive, Prudenville, MI 48651
      View Details
    • $30,000

      Residential Lot Near Houghton Lake

      Land in Indian Village neighborhood, close to Houghton Lake.
      Chippewa Trail lot: 2, Prudenville, MI 48651
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-visibility corner lot suitable for commercial development.
    Where is this commercial land located?
    The property is located at 730 W Houghton Lake Drive Prudenville, MI.
    What is the asking price?
    The asking price for this property is $639,000.
    What are key features of this property?
    This property features: Prime corner lot location at the intersection of M‑18 South & M‑55.; High visibility due to its location across from Walgreens at a five‑corner stop light.; Zoned Village Mixed Use, allowing for numerous development options.
    (989) 429-3100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ruth Clemens
    Ruth Clemens
    Real Estate License ID: 65-06043271
    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
    730 W Houghton Lake Drive, Prudenville, MI 48651
    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!