Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1070 Houghton Lake Dr Houghton Lake, MI 48651
    Back to Search
    Property profile & analytics

    1070 Houghton Lake Dr, Houghton Lake, MI 48651

    View on Map
    • Day care centers
    • 3,500 SF
    • 0.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Day care centers

    Property Details for 1070 Houghton Lake Dr

    Year built
    1991
    Lot size
    0.40 lot acres
    Property type
    Day care centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional mixed-use property, located at 1070 W Houghton Lake Dr, Houghton Lake, MI 48651, presents a unique investment opportunity. The 3,500 square foot building, constructed in 1991 and renovated in 2020, sits on a 0.4-acre lot with ample parking for 12 vehicles. Currently vacant with an occupancy date of October 15, 2024, this property offers immense flexibility. The building features 13 rooms suitable for various uses, including private offices, treatment rooms, or suites. Additional spaces include a large living room with a fireplace and a sizable kitchen. The property's zoning permits multi-family use, opening doors to diverse possibilities such as a medical/dental practice, spa/salon, daycare, or even conversion to a single-family home or duplex. Its prime location on the highly visible M-55 W Houghton Lake Road ensures excellent visibility and accessibility. The asking price is $349,900, translating to $99.97 per square foot. This two-building, single-story property represents a compelling investment for owner-users seeking a versatile and well-located asset in a thriving community. The property is privately owned.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.6582
    Latitude
    44.2987

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      3515 Houghton Lake Dr

      Retail properties & Spaces
      3515 Houghton Lake Dr, Houghton Lake, MI 48651
      View Details
    • Value Estimation by Request
      1,500 SF

      1256 West Branch Rd

      Golf courses & driving ranges
      1256 West Branch Rd, Prudenville, MI 48651
      View Details
    • Value Estimation by Request

      Ew Br Rd

      VACANT COMMERCIAL LAND
      Ew Br Rd, Prudenville, MI 48651
      View Details
    • Value Estimation by Request

      Ew Br Rd

      INDUSTRIAL (GENERAL)
      Ew Br Rd, Prudenville, MI 48651
      View Details
    • Value Estimation by Request

      211 Ww Br Rd Ste, Unit 106

      COMMERCIAL CONDOMINUIM
      211 Ww Br Rd Ste, Prudenville, MI 48651-9512
      View Details
    • Value Estimation by Request

      211 Ww Br Rd Ste, Unit 107

      COMMERCIAL CONDOMINUIM
      211 Ww Br Rd Ste, Prudenville, MI 48651-9512
      View Details

    Similar Nearby for Sale

    • $325,000
      32,770 SF

      Former School Redevelopment Opportunity

      32,770 SF former school for commercial/residential redevelopment in Prudenville.
      604 Sullivan Ave, Prudenville, MI 48651
      View Details
    • $194,900

      Recreational Property with Development Potential

      7.25 acre recreational property with commercial building and development potential.
      1391 W Houghton Lake Dr, Prudenville, MI 48651
      View Details
    • Contact for pricing
      3,059 SF

      Prime Corner Commercial Development Land

      High-visibility corner lot suitable for commercial development.
      730 W Houghton Lake Dr, Prudenville, MI 48651
      View Details
    • $749,000
      6,791 SF

      Versatile Commercial Property in Prudenville

      High-visibility commercial building suitable for diverse business operations.
      1200 W Houghton Lake Dr, Prudenville, MI 48651
      View Details
    • Contact for pricing
      6,791 SF

      Versatile Commercial Property For Sale

      High-traffic location suitable for retail, service, or mixed commercial operations.
      1200 W Houghton Lake Dr, Prudenville, MI 48651
      View Details
    • $350,000
      14,810 SF

      Versatile Commercial Building Near Houghton Lake

      Commercial building near Houghton Lake suitable for retail, office, or apartments.
      960 W Houghton Lake Dr, Prudenville, MI 48651
      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.
    1070 Houghton Lake Dr
    Houghton Lake, MI 48651
    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
    1070 Houghton Lake Dr, Houghton Lake, MI, 48651
    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!