Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land in Welcoming Grayling Neighborhood Title is generated by Realmo AI

    V/L L18-21 Monroe Avenue, Grayling, MI 49738

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land, Other - Grayling, MI

    Added:
    Sep 5, 2025
    Days on Market:
    260
    Last Refresh:
    May 22 at 3:06 pm

    Property Features for V/L L18-21 Monroe Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Morgan Robinson

    Listing agent Morgan Robinson License #6506047322,PersonLicenseNumber

    Listing office NextHome Up North 4772 W Houghton Lake Dr, MI

    Listing date Sep 5, 2025

    MLS# 201836896 Listing URL

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

    HighLights

    • Great location in a welcoming neighborhood.
    • Offers potential to build a dream home, getaway, or investment property.
    • Close to town, recreation, and Grayling amenities.
    • Peaceful and quiet northern Michigan living.
    • Land parcel ready for development.
    • Beautiful setting.

    Overview

    Located in a welcoming neighborhood, this land parcel is situated in Grayling, Michigan. The property offers potential for building a dream home, a getaway, or for future investment. The location provides quiet northern Michigan living, with proximity to town and recreation. The property is located on Monroe Avenue in Grayling, MI 49738.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Grayling
    County
    Crawford
    State
    Michigan
    Longitude
    -84.8141861
    Latitude
    44.6696167

    Nearby Similar for Sale

    • $660,000
      2,300 SF

      Recreational/Resort,Bed & Breakfast,Marina,Other - Grayling, MI

      Thriving business opportunity with retail, equipment, and vacation rental.
      100 State St, Grayling, MI 49738
      View Details
    • $195,000
      1,056 SF

      M-72 Frontage Investment Property

      Well-maintained commercial property on high-visibility M-72 in Grayling.
      307 Huron Street, Grayling, MI 49738
      View Details
    • $475,000
      321 SF

      Lakefront Land with Bunkhouse

      3.1-acre build site with 150' frontage on Lake Margrethe.
      3500 Borchers Way, Grayling, MI 49738
      View Details
    • $849,900
      15,026 SF

      Turnkey Income Property with On-Site Living

      Diversified income property featuring apartments, motel, and commercial building.
      615 S I 75 Business Loop, Grayling, MI 49738
      View Details
    • $101,550

      Commercial Land Ready to Build

      Commercial parcel near Grayling Hospital with high visibility.
      Parcel B N Down River Road, Grayling, MI 49738
      View Details
    • $101,550
      18,149 SF

      Commercial Parcel in Grayling, MI

      Commercial land parcel near Grayling Hospital, ready to build.
      North Down River Road, Grayling, MI 49738
      View Details
    • $18,500

      Golf Course Lot in Grayling

      1.26 acre lot on The Patriot Golf Course.
      6 Fairway Court, Grayling, MI 49738
      View Details
    • $19,800

      Residential Lots in Northwood Estates

      Residential lots with utilities in Grayling, near schools and amenities.
      Northwood Drive lot: 13, Grayling, MI 49738
      View Details
    • $19,800

      Residential Lots in Northwood Estates

      Residential lots with utilities near schools and shopping.
      Northwood Drive lot: 11, Grayling, MI 49738
      View Details
    • $19,800

      Residential Lots in Northwood Estates

      Available lots with utilities in Grayling, Michigan.
      Northwood Drive lot: 5, Grayling, MI 49738
      View Details
    • $19,800

      Residential Lots in Grayling Township

      Available lots with utilities in Northwood Estates, Grayling, MI.
      Northwood Drive lot: 4, Grayling, MI 49738
      View Details
    • $15,900

      Wooded Building Site in Grayling

      Wooded lot near town with utilities and paved road.
      Helen Drive lot: 31, Grayling, MI 49738
      View Details

    FAQs

    What type of property is this?
    Land - Land parcel in Grayling, ready for your dream home.
    Where is this land located?
    The property is located at V/L L18-21 Monroe Avenue Grayling, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Great location in a welcoming neighborhood.; Offers potential to build a dream home, getaway, or investment property.; Close to town, recreation, and Grayling amenities.
    (517) 643-1834
    We can help!
    Listing Contact
    Morgan Robinson
    Real Estate License ID: 6506047322,PersonLicenseNumber
    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
    V/L L18-21 Monroe Avenue, Grayling, MI 49738
    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!