Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Land on Otter Lake Title is generated by Realmo AI

    Cass Lake Rd, Waterford, MI 48328

    View on Map
    Claim this Listing
    For Sale
    $199,900

    LAND - Waterford Twp, MI

    Lot size:
    0.21 Acres
    Added:
    Apr 20, 2026
    Days on Market:
    34
    Last Refresh:
    May 23 at 2:06 am

    Property Features for Cass Lake Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Multi-Family,Residential,
    Standard status
    Active
    APN
    1335462003
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    T3N, R9E, SEC 35 VENICE OF THE LAKES LOT 305
    Tax Annual Amount
    241

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Ann Byer

    Listing agent Ann Byer License #6505371182

    Listing office Coldwell Banker Metro Real Estate 1362 W Huron St, Commerce, MI

    Listing date Apr 20, 2026

    MLS# 20261026903 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 94 feet of waterfront on Otter Lake
    • Two lots (305 & 306) being sold together
    • Large waterfront property (roughly 96 by 96 feet)
    • Backs up to Sylvan (Cass Lake Rd)
    • Located in Waterford Township
    • Public Water Source

    Overview

    Two waterfront lots, 305 and 306, are available for sale as a pair. The combined property offers approximately 94 feet of waterfront on Otter Lake, with dimensions of roughly 96 by 96 feet. The land backs up to Cass Lake Road and is situated just south of Bamford Street in Waterford Township, MI. The total lot size is 0.21 acres. The zoning is Multi-Family and Residential. Local variances have been granted to neighboring properties in the past through Waterford Township.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.355773
    Latitude
    42.638286

    Nearby Similar for Sale

    • $649,000
      5,081 SF

      Commercial Building on Corner Lot

      Four-unit commercial building with high visibility and income potential.
      1362 Huron Street, Waterford, MI 48328
      View Details
    • $499,900
      2,519 SF

      Commercial Building on Dixie Highway

      2,500+ sq ft commercial building in high-traffic area.
      4680 Dixie Highway, Waterford, MI 48329
      View Details
    • $120,000
      3,628 SF

      Asian Grocery & Restaurant Opportunity

      Turnkey Asian grocery and restaurant in prime Waterford location.
      2510 Dixie Highway, Waterford, MI 48328
      View Details
    • $1,749,900
      10,468 SF

      Waterford Marina on Loon Lake

      Marina with boat docks and storage on Loon Lake.
      4030 Dixie Highway, Waterford, MI 48329
      View Details
    • $450,000
      1,493 SF

      Waterford Commercial Property For Sale

      Commercial property in Waterford, MI, suitable for retail or office.
      101 N Telegraph Road, Waterford, MI 48328
      View Details
    • $450,000
      2,500 SF

      Established Medical Office on Elizabeth Lake

      Medical office building on Elizabeth Lake Road in Waterford Township.
      2561 Elizabeth Lake Road, Waterford, MI 48328
      View Details
    • $85,000

      High-Visibility Corner Lot on Dixie

      Corner lot on high-traffic Dixie Highway, Waterford Twp.
      2830 Dixie Highway, Waterford Twp, MI 48328
      View Details
    • $650,000
      4,000 SF

      Self-Serve Car Wash For Sale

      4-bay car wash with vacuum stations in high-traffic area.
      1400 Airport Rd, Waterford, MI 48328
      View Details
    • $450,000
      2,292 SF

      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
      2661 DIXIE, Waterford, MI 48328
      View Details
    • $1,300,000
      12,000 SF

      Versatile Commercial Building on Cooley Lake

      Adaptable commercial asset in a thriving growth market.
      7570 Cooley Lake Rd, WaterfordCharterTownship_Oakland, MI 48327
      View Details
    • $425,000
      3,714 SF

      Waterford Office Building For Sale

      Well-maintained office building on Highland Road, ideal for owner-user.
      5685 Highland Road, Waterford, MI 48327
      View Details
    • $499,900
      2,500 SF

      Commercial Building on Dixie Highway

      2,500 SF commercial building on high-traffic Dixie Highway.
      4680 Dixie Hwy, WaterfordCharterTownship_Oakland, MI 48329
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lots totaling 94 feet on Otter Lake.
    Where is this waterfront land located?
    The property is located at Cass Lake Rd Waterford, MI.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: 94 feet of waterfront on Otter Lake; Two lots (305 & 306) being sold together; Large waterfront property (roughly 96 by 96 feet)
    (248) 242-7282
    We can help!
    Listing Contact
    Ann Byer
    Real Estate License ID: 6505371182
    Learn More
    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
    Cass Lake Rd, Waterford Twp, MI 48328
    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!