Prime Corner Commercial Development
For Sale
Contact for pricing
730 W Houghton Lake Drive, Prudenville, MI 48651
High-visibility corner lot suitable for commercial development.
Property Size3,059 SF
Price / SF$208.89
Days on Market1569
Property Features for 730 W Houghton Lake Drive
General Information
Standard status
Active
Size
3,059 SF
Property subtype
Special Purpose
Zoning
Village Mixed Use
Building Details
Year Built
1987
Listing Agency:
Coldwell Banker Commercial Schmidt, Realtors Prudenville
Listed By:
Ruth Clemens · License #65-06043271
(989) 429-3100
Source:
Crexi
Added: Jul 14, 2022
Changed: Oct 25
Last Checked: Oct 28 at 8:49AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,451
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,020
$429.0K
Cap Rate 7%
$306,443
$306.4K
Cap Rate 9%
$238,344
$238.3K
Market Conditions
NOI Build-Up for 3,059 SF
Gross rent
$40.4K $13.20/SF
− Vacancy
−$6.1K −$1.98/SF
EGI
$34.3K $11.22/SF
− OpEx
−$12.9K −$4.21/SF
NOI
$21.5K $7.01/SF
Area
Roscommon County, MI
Vacancy
15.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,020
Cap Rate 7%
$306,443
Cap Rate 9%
$238,344
Alternative Uses
Best Use
Mixed Use
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.4K
$440.5K – $587.3K
NOI $35,240 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 48651, MI
4,396
Population
3,825
Households
1.1
Avg Household Size
56
Median Age
19%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
62
Density / Sq Mi
$42,938
Median Household Income
$32,917
Median Earnings
$797
Median Rent
$156,000
Median Home Value
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Frequently Asked Questions
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.
