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    Waterfront Golf Course Opportunity Title is generated by Realmo AI

    Nahma Golf Club 8588 LL Road, Nahma, MI 49878

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    Claim this Listing
    For Sale
    Under Contract
    $600,000

    COMMERCIAL - Nahma, MI

    Property size:
    1,500 SF
    Lot size:
    58.00 Acres
    Price / SF:
    $400/SF
    Added:
    Oct 23, 2025
    Days on Market:
    211
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for Nahma Golf Club 8588 LL Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Patio and Porch features
    Patio
    Exterior features
    Deck/Patio
    Standard status
    Active Under Contract
    Size
    1,500 SF
    Lot size
    58.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    12841

    Utilities

    Sewer type
    Mound Septic
    Heating system
    Forced Air, Zoned
    Cooling system
    Ceiling Fan(s)
    Water source
    Well, Private
    Water front
    1

    Building Details

    Year built
    1984
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    BOB SULLIVAN
    BOB SULLIVAN

    Listing agent BOB SULLIVAN License #6502138854

    Listing office NORTHERN MICHIGAN LAND BROKERS 325 Erickson, Marquette, MI

    Listing date Oct 23, 2025

    MLS# 50192375

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront golf course on Lake Michigan's Big Bay de Noc.
    • Turnkey business opportunity with existing golf course (Nahma Golf Club) and 90 active members.
    • Development potential with 3 surveyed parcels ready for building or sale.
    • Includes full‑service bar with liquor license, golf carts, mowers, tools, and inventory.
    • Established business since 1922 with opportunity for owner to operate seasonally (6 months).
    • Easy access to US 2 between Rapid River and Manistique.

    Overview

    The Nahma Golf Club presents an opportunity to own a golf course located on Lake Michigan's Big Bay de Noc in Michigan's Upper Peninsula. The property includes a full bar, a storage pole barn, a workshop, and a 9-hole golf course. The golf course has been in operation since 1922 and has 90 active members. The property spans 58 acres and features waterfrontage. The existing buildings total 1500 square feet and are in good condition. The property offers multiple development opportunities, including building a waterfront home, creating waterfront and golf course frontage homesites for sale or rent. There are three surveyed parcels ready for construction or sale separate from the course. The sale includes all inventory, golf carts, mowers, tools, a full-service bar, and a liquor license. The Nahma Golf Club is a member of the UPGA and is located minutes from US 2 between Rapid River and Manistique. The golf course is open to the public and hosts several tournaments each year. The current owner will provide a business tutorial in the spring of 2026 to ensure a smooth transition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Golf courses & driving ...

    Map

    City
    Nahma
    County
    Delta
    State
    Michigan
    Longitude
    -86.637292
    Latitude
    45.856258

    FAQs

    What type of property is this?
    Golf course & driving range - Turnkey golf course with waterfront and development potential.
    Where is this golf course & driving range located?
    The property is located at Nahma Golf Club 8588 LL Road Nahma, MI.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Waterfront golf course on Lake Michigan's Big Bay de Noc.; Turnkey business opportunity with existing golf course (Nahma Golf Club) and 90 active members.; Development potential with 3 surveyed parcels ready for building or sale.
    (906) 361-4212
    We can help!
    Listing Contact
    BOB SULLIVAN
    BOB SULLIVAN
    Real Estate License ID: 6502138854
    Learn More
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    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.

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