Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land Ready for Development Title is generated by Realmo AI

    11709 North Star, Charlevoix, MI 49720

    View on Map
    Claim this Listing
    For Sale
    $60,000

    Commercial/Industrial - Charlevoix, MI

    Lot size:
    0.50 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    45
    Last Refresh:
    May 29 at 12:06 pm

    Property Features for 11709 North Star

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Standard status
    Active
    APN
    007-465-005-00 & 006-00
    Lot size
    0.50 Acres

    Building Details

    Number of units
    2
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Loren Musilek
    Loren Musilek

    Listing agent Loren Musilek License #6506039269

    Listing office Berkshire Hathaway HomeServices Real Estate 203 Bridge St., Charlevoix, MI

    Listing date Apr 15, 2026

    MLS# 473491 Listing URL

    Copyright © 2026 Northern Michigan MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Shovel‑ready lots offer a simplified building process.
    • Electricity underground to each site.
    • Can accommodate a 40' x 60' metal storage building.
    • Metal roof potential.
    • Part of North Star Storage Phase I.
    • Price: $30,000 per lot.

    Overview

    Two commercial lots, identified as Lots 5 & 6 in Phase I of North Star Storage, are available for sale. The total lot size is 0.5 acres. Located in Charlevoix, MI 49720, these lots are shovel-ready and equipped with underground electricity to each site. Each lot can accommodate a free-standing 40' x 60' metal storage building, making them suitable for commercial or industrial use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Gym & Fitness Center Department Store Discount Store Daycare Center Pet Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charlevoix
    County
    Charlevoix
    State
    Michigan
    Longitude
    -85.3038
    Latitude
    45.2393

    Nearby Similar for Sale

    • $425,000
      1,600 SF

      Established Restaurant Business Opportunity

      Profitable restaurant business with equipment and recipes included in sale.
      212 Bridge St, Charlevoix, MI 49720
      View Details
    • $489,000
      4,140 SF

      Commercial Building Near Downtown

      Commercial building with two tenants and space for a third.
      802 Bridge, Charlevoix, MI 49720
      View Details
    • $1,595,000
      14,937 SF

      Mixed-Use Commercial Building in Charlevoix

      Fully leased commercial building in the heart of Charlevoix.
      201 State, Charlevoix, MI 49720-0000
      View Details
    • $399,000
      2,500 SF

      High-Visibility Commercial Building Near Charlevoix

      2,500 sq ft standalone building, ideal for various businesses.
      6536 N M-66, Charlevoix, MI 49720
      View Details
    • $895,000
      3,800 SF

      Historic Charlevoix House with Rental Units

      Historic lodging with eight rentable units and established rental history.
      202 Michigan, Charlevoix, MI 49720
      View Details
    • $395,000

      Commercial Land Near Downtown Charlevoix

      3.2 acres of commercial land with redevelopment potential.
      12877 US-31 N, CHARLEVOIX, MI 49720
      View Details
    • $795,000
      3,850 SF

      Charlevoix Bed & Breakfast Opportunity

      Bed & Breakfast near channel and main street in Charlevoix.
      109 Petoskey, Charlevoix, MI 49720
      View Details
    • $349,000
      1,989 SF

      Mixed-Use Building in Charlevoix, MI

      Versatile mixed-use commercial building with business and residential income.
      1301 Bridge, Charlevoix, MI 49720
      View Details
    • $289,000

      55 Foot Boat Slip

      55-foot boat slip on Lake Charlevoix with amenities.
      202 Ferry, Charlevoix, MI 49720
      View Details
    • $329,000

      Commercial Land with Planned Pole Barn

      Commercial land with planned 40'x80' pole barn near Charlevoix.
      13715 Clark, Charlevoix, MI 49720
      View Details
    • $1,700,000
      3,814 SF

      Bed and Breakfast Opportunity

      Bed and Breakfast in a highly visible and desired location.
      113 Michigan, Charlevoix, MI 49720
      View Details
    • $415,000

      Commercial Building Near US-31

      Versatile commercial building with warehouse and office space for sale.
      14260 Stover Rd, CharlevoixTownship_Charlevoix, MI 49720
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two commercial lots suitable for storage buildings in Charlevoix, MI.
    Where is this commercial land located?
    The property is located at 11709 North Star Charlevoix, MI.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: Shovel‑ready lots offer a simplified building process.; Electricity underground to each site.; Can accommodate a 40' x 60' metal storage building.
    (231) 547-6768
    We can help!
    Listing Contact
    Loren Musilek
    Loren Musilek
    Real Estate License ID: 6506039269
    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.
    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
    11709 North Star, Charlevoix, MI 49720
    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!