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Property profile & analytics
OFF-MARKET
Commercial real estate
32884 Maxton Rd, Drummond Island, MI 49726-9521
Individually Owned
16-yr Hold
Free & Clear
Property ID
US43-3516460
Property summary
AI-generated overview
This exceptional turnkey resort opportunity on Drummond Island, Michigan, presents a unique chance to acquire a well-established and profitable business. The property boasts 8 charming cottages and 25 full-service RV sites, all situated on 16 acres with 630 feet of prime Lake Huron waterfront. The sale includes 6 pontoon boats and 4 fishing boats, generating significant rental income. A comfortable owner's residence and a one-bedroom apartment are included, providing on-site living and additional rental potential. The property is zoned COMMERCIAL/RESIDENT and features ample parking, air conditioning, and common areas. With a loyal clientele and room for expansion, this resort offers a blend of established success and future growth potential. The asking price is $1,700,000 for the 5,500 square foot property, representing a price per square foot of $309.09. This is a rare opportunity to own a thriving business in a breathtaking location.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
APN
006-265-017-25
UPID
US43-3516460
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Laneen Hoover · 16 yrs held
Laneen Hoover
since 2010
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Drummond Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Drummond Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$1,890
Tax year 2020
Assessed value
$60,600
Assessed 2023
Previous assessed
$60,600
+0.0% YoY
Effective rate
3.12%
On assessed value
Total market value
$121,200
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
APN
006-265-017-25
UPID
US43-3516460
Jurisdiction
CHIPPEWA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Current owner
From public records · entity-resolved
Laneen Hoover
Individual
Free & Clear · 16 yrs held
Mailing address
32884 S MAXTON RD, DRUMMOND ISLAND, MI 49726-9521
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2010
$80,000
Laneen Hoover
Barbara L Fabeck
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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