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    Buildable Residential Lot in Spring Lake Title is generated by Realmo AI

    Pruin Street, Spring Lake, MI 49456

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    Picture of Residential land & home lots at Pruin Street, Spring Lake, MI
    For Sale
    $89,900

    LAND - Spring Lake, MI

    Lot size:
    0.46 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 3:06 am

    Property Features for Pruin Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    70-03-23-199-056
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PART OF RESERVE NO 1 OF VINECREST BEACH & PART OF GOVT LOT 3 COM S 0D 09M E 50 FT, S 81D 06M 38S W 461.11 FT FROM CEN 1/4 COR, TH S 81D 06M 38S W 16.5 FT ALG S'LY LI VINECREST BEACH EXT, TH N 10D 46M W 330 FT, N 81D 06M 32S E 40 FT TO W'LY LI RESERVE NO 1, TH S 10D 16M E 20 FT ALG SD W'LY LI, TH N 81D 06M 32S E 82.1 FT, TH S 10D 46M E 135 FT, TH S 81D 06M 38S W 105.5 FT, TH S 10D 46M E 175 FT TO B
    Tax Annual Amount
    1387

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    William E Carlston

    Listing agent William E Carlston License #6506021186

    Listing office Greenridge - Nexes 880 W Broadway Ave, Muskegon, MI

    Listing date Jun 5, 2026

    MLS# 26027388 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Buildable vacant lot in the Spring Lake area
    • Located near Spring Lake plus restaurants, shopping, and easy highway access
    • In the Spring Lake School District
    • Electricity available

    Overview

    This offering is a vacant, buildable residential lot in Spring Lake, Michigan. The property is presented as a single parcel suitable for constructing a custom home or other residential development based on buyer requirements and due diligence. The seller has provided lot size information and describes the site as ready for a buyer’s vision.

    The parcel is located in the Spring Lake area, with convenience to local restaurants and shopping and access to nearby highways for regional connectivity. The location is also noted as being within the Spring Lake School District, which may be an important consideration for owner-occupants.

    For buyers looking to build, this land listing provides a straightforward option to purchase a residential lot and plan their preferred home design. Because all additional details can materially affect project design and feasibility, the buyer and buyer’s agent should verify all information, including any development requirements, utilities, and site conditions, prior to moving forward.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Spring Lake
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.177494
    Latitude
    43.067049

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    FAQs

    What type of property is this?
    Residential land & home lot - Vacant parcel in the Spring Lake School District with easy access to shopping, dining, and nearby recreation.
    Where is this residential land & home lot located?
    The property is located at Pruin Street Spring Lake, MI.
    What is the asking price?
    The asking price for this property is $89,900.
    What are key features of this property?
    This property features: Buildable vacant lot in the Spring Lake area; Located near Spring Lake plus restaurants, shopping, and easy highway access; In the Spring Lake School District
    (231) 739-3501
    We can help!
    Listing Contact
    William E Carlston
    Real Estate License ID: 6506021186
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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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