Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12877 Us-31 N Charlevoix, MI 49720

    Sponsored
    For Sale
    $449,000

    land - CHARLEVOIX, MI

    Lot size:
    3.20 Acres
    Days on Market:
    52
    Last Refresh:
    Feb 20 at 7:06 pm

    Property Features for 12877 Us-31 N

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.20 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alex MacKenzie

    Coldwell Banker Schmidt Family Of Companies

    Listing agent Alex MacKenzie (866) 603-5140

    Listing date Dec 31, 2025

    MLS# 1928493 Listing URL

    Copyright © 2026 Coldwell Banker Schmidt REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land North of Downtown

    This commercial property is located just north of Downtown Charlevoix. The property features approximately 3.2 acres with 200' of frontage on US-31. Zoned commercial and located approximately 1.5 miles from downtown, this property has redevelopment potential for a number of commercial uses. The residence on the property is currently occupied on a month-to-month basis, and all structures are being sold as-is.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Hotel & Motel Gym & Fitness Center Department Store Accounting Firm Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlevoix
    County
    Charlevoix
    State
    Michigan
    Longitude
    -85.2377702
    Latitude
    45.3274792

    Nearby Similar for Sale

    • $1,595,000
      14,937 SF

      Mixed-Use Commercial Building in Charlevoix

      Fully leased commercial building in the heart of Charlevoix.
      201 State St, 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 Ave, Charlevoix, MI 49720
      View Details
    • $425,000
      1,600 SF

      Established Downtown Charlevoix Business

      Turnkey restaurant opportunity with equipment and recipes included.
      212 Bridge St, 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 Ave, 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 Ave, Charlevoix, MI 49720
      View Details
    • $1,450,000
      5,656 SF

      Mixed-Use Building in Downtown Charlevoix

      5,656 SF mixed-use building with diversified income streams.
      109 & 111 Brg, 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 St, Charlevoix, MI 49720
      View Details
    • $192,500

      40-Foot Slip on Lake Charlevoix

      40-foot boat slip with amenities on Lake Charlevoix.
      202 Ferry Ave, Charlevoix, MI 49720
      View Details
    • $140,000

      30-Foot Boat Slip in Charlevoix

      30-foot boat slip with amenities in Charlevoix, Michigan.
      202 Ferry Ave, Charlevoix, MI 49720
      View Details
    • $132,500

      30-Foot Slip at Northwest Marine

      30-foot boat slip with amenities at Northwest Marine Yacht Club.
      202 Ferry Ave, Charlevoix, MI 49720
      View Details
    • $129,000
      0.07 Acres

      New Charlevoix Flex Space

      New flex space with in-floor heat near Charlevoix.
      13715 Clark Rd, Charlevoix, MI 49720
      View Details
    • $209,000
      1,800 SF

      Newer Commercial/Industrial Pole Barn

      Newer 1800 SF commercial/industrial pole barn near city launch.
      13715 Clark Rd, Charlevoix, MI 49720
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.2 acres of commercial land with frontage on US-31.
    Where is this commercial land located?
    The property is located at 12877 Us-31 N Charlevoix, MI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: - Highly visible commercial property on US-31.; - Approximately 3.2 acres of land.; - 200' of frontage on US-31.
    (231) 929-2300
    Request Owner's contact information
    12877 Us-31 N Charlevoix, MI 49720
    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.
    12877 Us-31 N
    Charlevoix, MI 49720
    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
    12877 Us-31 N Charlevoix, MI 49720
    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

    We can help!
    Listing Contact
    Alex MacKenzie
    Real Estate License ID: 6501406999
    (231) 929-2300 (866) 603-5140 (231) 499-0529
    Learn more
    Google sign-in failed. Please try again or use another login method.