Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    8306 Us 131 Mancelona, MI 49659

    • Investment properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mancelona Motel / Motel / Hotel
    • Our Apartment / Apartment Building

    Property Details for 8306 Us 131

    Property type
    Investment properties

    Description

    This exceptional investment opportunity in Mancelona, Michigan, is situated at the highly visible corner of US-131 and M-66, offering unparalleled access and visibility. The property currently generates a strong monthly gross income of $18,000 from its 25 rental units, comprised of a diverse mix of apartment sizes to cater to a wide range of tenants. These units include three one-bedroom apartments, one two-bedroom apartment, one three-bedroom modular home, and several efficiency units, some with kitchenettes. Recent upgrades include the installation of four brand-new hot water heaters, ensuring tenant comfort and minimizing maintenance concerns. Further enhancing the property's appeal are on-site coin-operated laundry facilities, providing an additional revenue stream. The property now benefits from city water and sewer connections, eliminating potential infrastructure challenges. New gas lines were installed in January 2025. The single-story building presents a significant opportunity for expansion, with the potential to add two more rental units, increasing the property's income potential even further. This turnkey operation offers a compelling investment opportunity for those seeking a high-yield, low-maintenance rental property in a prime location. The property is priced at $925,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mancelona
    County
    Antrim
    State
    Michigan
    Longitude
    -85.1309
    Latitude
    44.833

    Comparable in this City

    • Value Estimation by Request

      Mancelona, MI 49659

      VACANT COMMERCIAL LAND
      Mancelona, MI 49659
      View Details
    • Value Estimation by Request

      Us 131

      VACANT COMMERCIAL LAND
      Us 131, Mancelona, MI 49659
      View Details
    • Value Estimation by Request

      Us 131

      VACANT COMMERCIAL LAND
      Us 131, Mancelona, MI 49659
      View Details
    • Value Estimation by Request

      Us 131

      VACANT COMMERCIAL LAND
      Us 131, Mancelona, MI 49659
      View Details
    • Value Estimation by Request

      Us 131

      VACANT COMMERCIAL LAND
      Us 131, Mancelona, MI 49659
      View Details
    • Value Estimation by Request

      Us 131

      VACANT COMMERCIAL LAND
      Us 131, Mancelona, MI 49659
      View Details

    Similar Nearby for Sale

    • $365,000
      1,380 SF

      Thriving Mancelona Business w/ RV Sites

      Gas Station, Party Store, RV Hookups - High Potential!
      11380 Starvation Lake Rd, Mancelona, MI 49659
      View Details
    • $335,000
      80.00 Acres

      80-Acre Corner Parcel in Mancelona

      Unzoned 80-acre parcel suitable for residential, recreational, or commercial use.
      4856 Mancelona Rd, Mancelona, MI 49659
      View Details
    • Contact for pricing
      2.50 Acres

      Mancelona Land with Owner Financing

      2.5 acres near Mancelona, suitable for various uses.
      A Johnson Rd, Mancelona, MI 49659
      View Details
    • $336,950
      67.39 Acres

      Versatile Acreage in Mancelona, MI

      Unzoned 67+ acre land parcel on M-66 and Wetzel Lake Rd.
      7387 M-66, Mancelona, MI 49659
      View Details
    • $90,000
      35.00 Acres

      Mancelona Land Ideal for Hunting

      35 acre Mancelona land perfect for outdoor recreation.
      Vl Mancelona Rd, Mancelona, MI 49659
      View Details
    • $230,000
      53.00 Acres

      53 Acres of Rolling Land

      53 acres near public land, ideal for recreation or building.
      5721 Scholl Rd, Mancelona, MI 49659
      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.
    8306 Us 131
    Mancelona, MI 49659
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.