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    6191 Larson Rd Fountain, MI 49410
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    6191 Larson Rd Fountain, MI 49410

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    • Residential income homes
    For Sale
    $1,500,100
    View Listing →
    Blue Lake Lakeside Cabin Resort For Sale
    $1,500,100
    8,212 SF

    Blue Lake Lakeside Cabin Resort

    14 Cabins, 3.91 Acres, Prime Location

    6191 Larson Rd, Fountain, MI 49410
    View Listing
    Property ID
    US43-1595832
    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

    • Blue Lake Resort / Hotel & Motel / Resort

    Property Details for 6191 Larson Rd

    Property type
    Residential income homes

    Description

    This exceptional Michigan lakefront property offers 14 charming cabins, including thirteen two-bedroom and one single-bedroom unit, situated on the pristine shores of Blue Lake. Boasting 500 feet of sandy beach frontage, the resort provides direct lake access and a variety of recreational amenities, including kayaks, paddle boats, and ten fishing boats. Community spaces feature fire pits and picnic tables. The property is the largest unrestricted property on Blue Lake, offering a unique investment opportunity due to its exclusive nature; no other rentals are permitted on the lake. Nearby attractions include scenic hiking trails in Manistee and Ludington. The sale includes two properties: 6191 N Larson Rd and 5858 E Deer Rd, totaling 14 cabins. The asking price is $1,600,100. All information should be verified by the buyer. This is a rare opportunity to acquire a fully operational, established resort with significant potential for growth and profitability in a highly desirable location. The property's unique features, including its size and exclusive rental status, make it a truly exceptional investment.

    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
    Fountain
    County
    Mason
    State
    Michigan
    Longitude
    -86.1333761
    Latitude
    44.0658044

    Comparable in this City

    • $1,500,100
      8,212 SF

      Blue Lake Lakeside Cabin Resort

      14 Cabins, 3.91 Acres, Prime Location
      6191 Larson Rd, Fountain, MI 49410
      View Details
    • $61,600
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      Wooded Acreage Near Gun Lake

      7.87 acres of wooded land, suitable for building or hunting.
      E Beyer Rd, Fountain, MI 49410
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      Waterfront Land on Ford Lake

      Vacant waterfront land with pole barn near Manistee National Forest.
      5341 N Benson Rd, Fountain, MI 49410
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      Versatile 20-Acre Northern Michigan Land

      Ideal 20-acre tract for homestead, hunting, or recreation.
      20A N Campbell Rd, Fountain, MI 49410
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    • $249,900
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      Established Tavern in Tourist Destination

      Thriving tavern with living quarters in a tourist destination.
      4108 E Main St, Fountain, MI 49410
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    • $85,000
      7.06 Acres

      Wooded Acreage Near Pere Marquette River

      7 wooded acres near Pere Marquette River with recreational potential.
      S Walhalla Rd, Fountain, MI 49410
      View Details

    Similar Nearby for Sale

    • $1,500,100
      8,212 SF

      Blue Lake Lakeside Cabin Resort

      14 Cabins, 3.91 Acres, Prime Location
      6191 Larson Rd, Fountain, MI 49410
      View Details
    • $61,600
      7.87 Acres

      Wooded Acreage Near Gun Lake

      7.87 acres of wooded land, suitable for building or hunting.
      E Beyer Rd, Fountain, MI 49410
      View Details
    • $225,000
      1.25 Acres

      Waterfront Land on Ford Lake

      Vacant waterfront land with pole barn near Manistee National Forest.
      5341 N Benson Rd, Fountain, MI 49410
      View Details
    • $115,000
      20.00 Acres

      Versatile 20-Acre Northern Michigan Land

      Ideal 20-acre tract for homestead, hunting, or recreation.
      20A N Campbell Rd, Fountain, MI 49410
      View Details
    • $249,900
      3,707 SF

      Established Tavern in Tourist Destination

      Thriving tavern with living quarters in a tourist destination.
      4108 E Main St, Fountain, MI 49410
      View Details
    • $85,000
      7.06 Acres

      Wooded Acreage Near Pere Marquette River

      7 wooded acres near Pere Marquette River with recreational potential.
      S Walhalla Rd, Fountain, MI 49410
      View Details
    View Listing
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    Fountain, MI 49410
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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.

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