Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    M-32 Crittenden Ct Alpena, MI 49707
    Property profile & analytics

    M-32 Crittenden Ct Alpena, MI 49707

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for M-32 Crittenden Ct

    Property type
    Land

    Description

    This exceptional 75,800 square foot commercial lot, located at Lot 8 M-32 Crittenden Court in Alpena, Michigan, presents a unique investment opportunity. Priced at $175,000, this B2-zoned property boasts prime visibility and high traffic counts due to its strategic location on M-32, just 1.8 miles west of the busy M-32/Bagley Street corridor. The site benefits from readily available municipal water, sewer, natural gas, and electricity, representing significant cost savings for future development. This location is in the fastest-growing area of Alpena County and enjoys high visibility from multiple traffic lanes. The lot is conveniently accessed via a service drive off M-32 (Crittenden Court), offering excellent signage opportunities. Anchored by a newly constructed Aldi's and a Hampton Inn under construction, this area is surrounded by a thriving commercial landscape including Walmart, Meijer, Home Depot, McDonald's, Culver's, Applebee's, Walgreens, Biggby Coffee, Starbucks, Marshalls, Auto Zone, PNC Bank, and WellCare. The parcel's size can be adjusted, and additional land may be available. The APN is 012-020-000-650-12. Detailed site layouts and pricing information are available upon request. This is an ideal location for a variety of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Alpena
    County
    Alpena
    State
    Michigan
    Longitude
    -83.4909
    Latitude
    45.0766

    Comparable in this City

    • Value Estimation by Request

      M-32 Crittenden Ct

      Land
      M-32 Crittenden Ct, Alpena, MI 49707
      View Details
    • Value Estimation by Request

      6 M-32/Crittenden Ct

      Land
      6 M-32/Crittenden Ct, Alpena, MI 49707
      View Details
    • Value Estimation by Request
      768 SF

      Alpena, MI 49707

      Commercial real estate • 768 SF
      Alpena, MI 49707
      View Details
    • Value Estimation by Request
      2.02 Acres

      860 Commerce Dr

      COMMERCIAL (GENERAL) • 2.02 Acres
      860 Commerce Dr, Alpena, MI 49707-1955
      View Details
    • Value Estimation by Request
      0.08 Acres

      224 Fletcher St

      COMMERCIAL (GENERAL) • 0.08 Acres
      224 Fletcher St, Alpena, MI 49707
      View Details
    • Value Estimation by Request
      0.87 Acres

      128 Grant St

      COMMERCIAL (GENERAL) • 0.87 Acres
      128 Grant St, Alpena, MI 49707-3610
      View Details

    Similar Nearby for Sale

    • $220,000
      22.40 Acres

      Northern Michigan Land with River Frontage

      22.4 acres with 1,780 feet of Thunder Bay River frontage.
      6378 Macey Ln, Alpena, MI 49707
      View Details
    • Contact for pricing

      Commercial Lot in Growing Area

      Commercial lot in Alpena Township, high visibility and traffic.
      M-32 Crittenden Ct, Alpena, MI 49707
      View Details
    • Contact for pricing
      0.25 Acres

      Residential Land in Alpena, MI

      Residential land ready for construction with city utilities.
      2971 Noralin Dr, Alpena, MI 49707
      View Details
    • $235,000
      3.49 Acres

      Alpena Commercial Land For Sale

      Commercial land with complete infrastructure in a high-traffic area.
      M-32/Crittenden Ct, Alpena, MI 49707
      View Details
    • $199,000
      6,044 SF

      Alpena Commercial Building - Great Potential

      High-traffic location, versatile space, motivated seller.
      612 Ripley Blvd, Alpena, MI 49707
      View Details
    • $349,500
      768 SF

      Alpena Commercial Lot - Prime Location

      Build Your Dream Business - Double Lot!
      Alpena, MI 49707
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Alpena Retail Space Available

      Retail space in Alpena near downtown and local attractions.
      1132 W Chisholm St, Alpena, MI 49707
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Alpena Center

      92,000 SF neighborhood center with great visibility and access.
      2207-2215 Us Highway 23 S, Alpena, MI 49707
      View Details
    • $6 SF/Yr
      13,600 SF

      Alpena Retail Space For Lease

      6,000 SF retail space in Alpena, Michigan available for lease.
      2682 S Us Highway 23, Alpena, MI 49707
      View Details
    • Contact for pricing
      900 SF

      Retail Center in Alpena, Michigan

      90,979 SF retail center with great visibility and access.
      2205 Us Highway 23 S, Alpena, MI 49707
      View Details
    • Contact for pricing

      Alpena Retail and Office Spaces

      Neighborhood center with retail, restaurant, and office space available.
      2205-2219 Us Highway 23, Alpena, MI 49707
      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.
    M-32 Crittenden Ct
    Alpena, MI 49707
    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
    M-32 Crittenden Ct, Alpena, MI, 49707
    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!