Property profile

1229 Mackinaw Ave Cheboygan, MI 49721

OFF-MARKET
Other commercial real estate
Property ID
US43-3488354
1.05 ac lot
Individually Owned Free & Clear
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Property summary

AI-generated overview

The property is a historic landmark building constructed in 1889 and formerly used as the Third Ward Elementary Schoolhouse in Cheboygan. The structure features original stone foundation elements, tall windows, grand interior architectural character with soaring ceilings, and expansive room areas. The site includes a lot measuring 0.67 acres. The building’s layout and size provide flexibility for multiple potential uses, including conversion to a residential estate or private residence, multi-unit apartment configuration, boutique hotel or bed-and-breakfast, daycare facility, non-profit headquarters, corporate office space, community center, or wedding and event venue, subject to applicable regulations and permitting.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 1.05 ac (45,738 SF)
APN 053-C08-001-004-00
UPID US43-3488354

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1229 Mackinaw Ave Cheboygan, MI 49721-1036
Cheboygan metro Census 960200
Google Maps

Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2026
Last sale
$7,900
5 recorded transactions
2026
$15,000
2025
$418
2025
$371
2020
$7,900
2017
$8,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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