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    10343 Hilltop Rd Suttons Bay, MI 49682

    • Bars
    • 11,270 SF
    • 78.37 lot acres
    For Sale
    View listing
    $3,990,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3108127
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ciccone Vineyard & Winery / Wedding Venue / Wine Bar

    Property Details for 10343 Hilltop Rd

    Year built
    1990
    Lot size
    78.37 lot acres
    Property size
    11,270 SF
    Property type
    Bars
    Property subtype
    Pubs

    Description

    This exceptional turnkey opportunity presents a thriving Northern Michigan winery and private residence nestled on 78.37 acres in Suttons Bay, Leelanau County (49682). The 11,270 square foot property, built in 1990, boasts a successful wine and event business, currently producing 3,000 cases annually and distributing to 45 states. The impressive estate features a five-bedroom, 4.5-bathroom home with stunning Grand Traverse Bay views, offering flexible uses including bed and breakfast or event guest space. The home includes a recently updated kitchen, ample storage, and a three-car attached garage. The expansive property includes 13 acres of primarily cool-climate vinifera grapes, with potential for up to 8 more acres of planting. The existing vineyard benefits from loam soil, ideal for water retention, air circulation, and fertility. A flexible tasting room with indoor/outdoor spaces accommodates events for up to 250 people, complemented by a strong wine club membership exceeding 600. This unique property offers a blend of residential comfort, established business success, and significant growth potential, all within a picturesque setting. The asking price is $3,990,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Suttons Bay
    County
    Leelanau
    State
    Michigan
    Longitude
    -85.6469392
    Latitude
    44.907257

    Comparable in this City

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      West Bay Shore Village: Prime MI Location

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      Condo with Boat Slip on Bay

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      Updated Bay Cliff Condo

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    • $89,900
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      Residential Lot in Suttons Bay

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    Similar Nearby for Sale

    • $3,700,000
      18,000 SF

      West Bay Shore Village: Prime MI Location

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      5046 Bay Shore Dr, Suttons Bay, MI 49682
      View Details
    • $1,050,000

      Condo with Boat Slip on Bay

      Condo with 50-foot boat slip near Suttons Bay.
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    • $1,050,000

      Condo with Boat Slip on Bay

      Condo with boat slip near Suttons Bay amenities and attractions.
      704 N Dockside Cir, Suttons Bay, MI 49682
      View Details
    • $1,050,000
      1,893 SF

      Condo with Boat Slip on Bay

      Condo with boat slip near Suttons Bay amenities and attractions.
      704 N Dockside Cir, Suttons Bay, MI 49682
      View Details
    • $895,000

      Updated Bay Cliff Condo

      Renovated condo with bay views and community amenities.
      898 N Bay Cliff Dr, Suttons Bay, MI 49682
      View Details
    • $89,900
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      Residential Lot in Suttons Bay

      1.26-acre build-ready lot with seasonal bay views.
      12251 E Spinnaker Ln, Suttons Bay, MI 49682
      View Details
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    Suttons Bay, MI 49682
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    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
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