Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1952 Houghton Lake Dr prudenville, MI 48651
    Back to Search
    Property profile & analytics

    1952 Houghton Lake Dr prudenville, MI 48651

    View on Map
    • Industrial properties
    • 8,000 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 1952 Houghton Lake Dr

    Lot size
    1.00 lot acres
    Property size
    8,000 SF
    Property type
    Industrial properties
    Property subtype
    Hemp farms

    Description

    This exceptional 8,000-square-foot industrial property in Prudenville, Michigan, presents a unique opportunity for cannabis cultivation. Located on a one-acre lot at 1952 W Houghton Lake Dr, 48651, this single-story building boasts a 16-foot ceiling height and features 14 dock-high doors and one loading dock. Renovated in 2021, the facility includes 4,880 square feet of turnkey cultivation space, currently configured with three 430-square-foot flowering rooms, one 430-square-foot drying room, and one 313-square-foot vegetative room. An additional 3,120 square feet of former retail space offers significant expansion potential, easily adaptable for additional drying or flowering rooms. High-end features include 5 tons of HVAC per grow room, automated watering systems, two Quest dehumidifiers, 15 Gavita 1500-watt LED lights per flowering room, and Troll Master Pro controls in all rooms. The property benefits from a recently replaced roof and repaved driveway, and boasts an 800-amp, 480-volt electrical output. The asking price is $895,000 for a fee simple absolute ownership, or a lease is available at $8,500 per month plus NNN. Seller financing options may be available for qualified buyers. The property is zoned commercial and is currently vacant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    prudenville
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.6762
    Latitude
    44.2991

    Comparable in this City

    • Value Estimation by Request

      Ew Br Rd

      INDUSTRIAL (GENERAL)
      Ew Br Rd, Prudenville, MI 48651
      View Details
    • Value Estimation by Request
      1,500 SF

      1256 West Branch Rd

      Industrial properties • 1,500 SF
      1256 West Branch Rd, Prudenville, MI 48651
      View Details
    • Value Estimation by Request
      1.31 Acres

      Ew Br Rd

      INDUSTRIAL (GENERAL) • 1.31 Acres
      Ew Br 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

      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

    • $450,000
      1,500 SF

      Prudenville Adventure Golf Business

      Established Mini Golf Course, 2.47 Acres
      1256 West Branch Rd, Prudenville, MI 48651
      View Details
    • $360,000
      2,880 SF

      Profitable Car Wash Investment Opportunity

      Well-maintained car wash on a high-traffic corridor near Houghton Lake.
      225 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
      Pending

      Lake James Community Lot

      0.9 acre lot with lake access.
      00 Lake James Rd, Prudenville, MI 48651
      View Details
    • $749,000
      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
    • $59,900
      0.19 Acres

      Waterfront Lot on Lake James

      Vacant waterfront lot on Lake James ready for your vision.
      425 Atwood 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.
    1952 Houghton Lake Dr
    prudenville, 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
    1952 Houghton Lake Dr, prudenville, 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!