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    Property profile & analytics
    FOR SALE
    Commercial real estate

    4562 W Houghton Lake Dr, Houghton Lake, MI 48629

    0.97 ac lot
    Trust Owned 16-yr Hold Free & Clear
    Property ID
    US43-3568675
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Lot 0.97 ac (42,253 SF)
    APN 003-714-001-0000
    UPID US43-3568675
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Eileen M. North, RPh Pharmacy
    • United States Postal Service Post Office Logistics Service
    • Rite Aid Pharmacy
    • higi Physician
    • Rite Aid Photo (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    The Mona Geller Survivors Trust · 16 yrs held
    The Mona Geller Survivors Trust
    since 2009
    1 recorded transaction
    2009
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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