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    4562 Houghton Lake Dr Houghton Lake, MI 48629

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    10,152 SF Vacant Drug Store

    Property size:
    10,152 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 Features for 4562 Houghton Lake Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,152 SF
    Lot Size
    42,253 SF

    Building Details

    Year Built
    1990
    Buildings
    1

    HighLights

    • 10,268 SF free‑standing building, built in 1993.
    • Prime Houghton Lake location, a popular Northern Michigan tourist destination.
    • Situated on Michigan's largest inland lake, with a tourism‑based economy.
    • High traffic count (12,700+ vehicles daily) on W Houghton Lake Dr.
    • Excellent access to US‑127 and I‑75.
    • Strong demographics: >$61,993 average household income (1‑mile radius) and >9,250 residents (5‑mile radius).
    Property Profile Location Intelligence

    Current Use by Public Records

    Eileen M. North, ... Pharmacy United States Postal ... Post Office Rite Aid Drug Store higi Health Consultant Rite Aid Photo Photo Lab

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.730372652247
    Latitude
    44.298262637109

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    FAQs

    What type of property is this?
    Individual retail property - 10,152 SF Vacant Drug Store
    Where is this individual retail property located?
    The property is located at 4562 Houghton Lake Dr Houghton Lake, MI.
    What are key features of this property?
    This property features: 10,268 SF free-standing building, built in 1993.; Prime Houghton Lake location, a popular Northern Michigan tourist destination.; Situated on Michigan's largest inland lake, with a tourism-based economy.
    Request Owner's contact information
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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
    4562 Houghton Lake Dr Houghton Lake, MI 48629
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