4562 W Houghton Lake Dr, Houghton Lake, MI 48629
For Sale
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This 10,152-square-foot vacant retail building, formerly a drug store, presents a unique investment opportunity in Houghton Lake, Michigan. Built in 1990, this single-building property sits on a 0.97-acre lot at 4562 W Houghton Lake Dr, 48629. The property is strategically located along a high-traffic corridor (over 12,700 vehicles daily) with excellent visibility and proximity to major highways US-127 and I-75, making it easily accessible. The location benefits from a strong local economy driven by tourism in this popular Northern Michigan resort and fishing destination situated on Michigan's largest inland lake. The surrounding area boasts a high concentration of national retailers, including Arby's, Dollar Tree, McDonald's, Home Depot, and Walmart. The property's strong demographics include an average household income exceeding $61,993 within a one-mile radius and over 9,250 residents within a five-mile radius. This well-maintained building is available for sale or lease and offers excellent investment potential in a growing area. The property is currently vacant and ready for immediate occupancy. This net lease property offers a single tenancy and has no remaining lease term.
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Eileen M. North, RPh Pharmacy
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United States Postal Service Post Office Logistics Service
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Rite Aid Pharmacy
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higi Physician
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Rite Aid Photo (Bike/Boat/Book/etc) Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.