Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3900 Houghton Lk Dr Houghton Lake, MI 48629-9215
    Back to Search
    Property profile & analytics

    3900 Houghton Lk Dr Houghton Lake, MI 48629-9215

    View on Map
    • Commercial real estate
    • 0.23 lot acres
    Off-Market
    Last Sale Dec 5, 2024
    $105,000
    Property ID
    US43-4106122
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Joe's Coney Island / Restaurant

    Property Details for 3900 Houghton Lk Dr

    Lot size
    0.23 lot acres
    Property type
    Commercial real estate
    APN
    003-198-005-0000
    APU
    31980050000

    Description

    This exceptional commercial property, located at 3900 W Houghton Lake Dr, Houghton Lake, MI 48629, presents a unique investment opportunity. Currently operating as a successful diner, "Joe's Coney Island," this business and building are offered for sale at $225,000. The property boasts a prime location in a bustling area of Houghton Lake, within Roscommon County. The existing diner features a clean and well-maintained kitchen, ample storage space, and included equipment, providing a solid foundation for continued operation or a complete transformation. The building's layout offers additional space, allowing for expansion and adaptation to suit a variety of concepts. The versatile design lends itself to diverse culinary ventures, such as a café, bistro, or pub, or even non-food-related businesses. The existing business operations are included in the sale, providing a turnkey opportunity for immediate revenue generation. This property offers a blend of established success and significant untapped potential, making it an attractive investment for both seasoned entrepreneurs and newcomers seeking a thriving business in a desirable location. The latitude and longitude coordinates are 44.2986831, -84.7167469. Contact us for more information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Houghton Lake
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.7167
    Latitude
    44.2987

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $1,730
    $0.00
    $0.00
    $54,100
    -
    $0.00
    $0.00
    $108,200

    Comparable in this City

    • Value Estimation by Request
      1.41 Acres

      Nwc Huntington Rd & Reserve Rd

      Multifamily properties • 1.41 Acres
      0 Nwc Huntington Rd & Reserve Rd, Houghton Lake, MI 48629
      View Details
    • Value Estimation by Request
      0.45 Acres

      102 Myron Ln

      COMMERCIAL (GENERAL) • 0.45 Acres
      102 Myron Ln, Houghton Lake, MI 48629-9013
      View Details
    • Value Estimation by Request
      0.13 Acres

      900 Shoreline Dr

      COMMERCIAL (GENERAL) • 0.13 Acres
      900 Shoreline Dr, Houghton Lake, MI 48629-8816
      View Details
    • Value Estimation by Request
      0.60 Acres

      Standard St

      COMMERCIAL (GENERAL) • 0.60 Acres
      Standard St, Houghton Lake, MI 48629
      View Details
    • Value Estimation by Request

      Stoneschool Rd

      COMMERCIAL (GENERAL)
      Stoneschool Rd, Houghton Lake, MI 48629
      View Details
    • Value Estimation by Request
      0.23 Acres

      117 Beech St

      COMMERCIAL (GENERAL) • 0.23 Acres
      117 Beech St, Houghton Lake, MI 48629-9700
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Houghton Lake Buildable Golf Lot

      Buildable lot with golf course and lake access.
      26 Questview Dr, Houghton Lake, MI 48629
      View Details
    • Contact for pricing
      10,152 SF

      Houghton Lake Retail Space

      10,152 SF Vacant Drug Store
      4562 Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • $192,900
      2.21 Acres

      HOUGHTON LAKE Waterfront Land

      2.21 acres with Barney Lake frontage and recreational opportunities.
      2.21 Ac Snow Bowl Rd, Houghton Lake, MI 48629
      View Details
    • $150,000
      5.00 Acres

      Prime Commercial Acreage on M-55

      Commercial land with high visibility on M-55 corner location.
      5 W Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • $255,900
      1.24 Acres

      Houghton Lake Waterfront Recreational Land

      1.24 acres with Barney Lake frontage near state land.
      1.24 Acres Snowbowl Rd, Houghton Lake, MI 48629
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      1,100 SF

      Retail Space Near Future Coffee

      1,100 SF retail space with high visibility and traffic.
      3580 West Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Walmart Shadow

      Retail space available within a Walmart shadow center.
      2131 W Houghton Lake Dr, Houghton Lake, MI 48629
      View Details
    • Contact for pricing

      Retail Space in Prudenville Center

      Retail space available in a newly constructed strip center.
      1953 W Houghton Lake Dr, Prudenville, MI 48629
      View Details
    • Contact for pricing

      Commercial Land Near Shopping Center

      Land with exposure near M-55 and national retailers.
      3451 W Houghton Lake Dr, Houghton Lake, MI 48629
      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.
    3900 Houghton Lk Dr
    Houghton Lake, MI 48629-9215
    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
    3900 Houghton Lk Dr, Houghton Lake, MI, 48629
    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!