Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    21150 M-68 Onaway, MI 49765

    • Land
    • 9.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 21150 M-68

    Lot size
    9.50 lot acres
    Property type
    Land

    Description

    This exceptional 9.5-acre parcel of commercially zoned vacant land presents a unique investment opportunity in Onaway, Michigan. Located at 21150 M-68, this property boasts a highly desirable location within Presque Isle County, offering significant potential for development. The land is identified by APN 160-206-000-005-00 and is currently listed at $150,000. Its expansive size provides ample space for a variety of commercial ventures, making it ideal for entrepreneurs and investors seeking to establish a presence in this growing area. The property's convenient location offers easy access to key transportation routes, ensuring excellent visibility and accessibility for any future business. With its prime location and substantial acreage, this property represents a rare chance to acquire a significant commercial land holding in a thriving Michigan community. The zoning allows for a wide range of commercial uses, providing flexibility for diverse development plans. This is an exceptional opportunity to capitalize on the potential of this valuable asset in a desirable location. Serious inquiries are encouraged to explore the possibilities this property offers. The property is ready for immediate development, presenting a streamlined path to realizing your commercial vision. Don't miss this chance to secure a piece of Onaway's promising future. The asking price reflects the significant value and potential of this exceptional land parcel.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Onaway
    County
    Presque Isle
    State
    Michigan
    Longitude
    -84.237
    Latitude
    45.3545

    Comparable in this City

    • Value Estimation by Request

      Onaway, MI 49765

      COMMERCIAL (GENERAL)
      Onaway, MI 49765
      View Details
    • Value Estimation by Request
      1.19 Acres

      9235 101st Hwy

      COMMERCIAL (GENERAL) • 1.19 Acres
      9235 101st Hwy, Onaway, MI 49765-9111
      View Details
    • Value Estimation by Request
      0.10 Acres

      Onaway, MI 49765

      COMMERCIAL (GENERAL) • 0.10 Acres
      Onaway, MI 49765
      View Details
    • Value Estimation by Request
      24.15 Acres

      Onaway, MI 49765

      COMMERCIAL (GENERAL) • 24.15 Acres
      Onaway, MI 49765
      View Details
    • Value Estimation by Request
      0.23 Acres

      Onaway, MI 49765

      COMMERCIAL (GENERAL) • 0.23 Acres
      Onaway, MI 49765
      View Details
    • Value Estimation by Request
      1.37 Acres

      2036 M 211th Rd

      COMMERCIAL (GENERAL) • 1.37 Acres
      2036 M 211th Rd, Onaway, MI 49765-9627
      View Details

    Similar Nearby for Sale

    • $89,000

      41 Acres of Natural Beauty

      Expansive land with woods, clearings, and rolling terrain.
      21000 Ash Hwy, Onaway, MI 49765
      View Details
    • $140,000
      9.50 Acres

      Onaway, MI Commercial Land

      9.5-acre commercial land near Onaway, Michigan, the Sturgeon Capital.
      21150 M-68, Onaway, MI 49765
      View Details
    • $99,996

      Recreational Land Near Snowmobile Trail

      19 wooded acres with pole barn near snowmobile trail.
      6350 E Tower Rd, Onaway, MI 49765
      View Details
    • $89,000
      41.04 Acres

      41 Acres of Vacant Land

      41.04 acres of residential and recreational land in Onaway, MI.
      21000 Ash Hwy, Onaway, MI 49765
      View Details
    • $99,000
      33.60 Acres

      Buildable Hunting Land in Onaway

      33.6 acres of wooded hunting land with utilities available.
      S County Line Rd, Onaway, MI 49765
      View Details
    • $150,000
      9.50 Acres

      21150 M-68, Onaway, MI 49765

      Commercial real estate • 9.50 Acres
      21150 M-68, Onaway, MI 49765
      View Details
    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.
    21150 M-68
    Onaway, MI 49765
    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

    Google sign-in failed. Please try again or use another login method.