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    3636 W Empire Highway Empire, MI 49630

    View on Map
    For Sale
    $130,000

    None - Empire, MI

    Property size:
    1,600 SF
    Added:
    Aug 15, 2025
    Days on Market:
    231
    Last Refresh:
    Apr 2 at 7:06 am

    Property Features for 3636 W Empire Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Basement Y/N
    1
    Standard status
    Active
    Size
    1,600 SF

    Taxes and HOA fees

    TaxAnnualAmount
    1696
    Expense value
    654
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Year built
    2025
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Ranae Ihme
    Ranae Ihme

    Listing agent Ranae Ihme

    Listing office LVR Realty, LLC 6546 S State Street, Glen Arbor, MI

    Listing date Aug 15, 2025

    MLS# 1937585 Listing URL

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

    Overview

    New Storage Space Near Glen Lake

    This is a new 1600 square foot pole barn, measuring 40 x 40, with a certificate of occupancy. It features two service doors on the sides and two 14' x 14' insulated overhead doors. The space could potentially have a divider installed after purchase and be sold as two separate spaces. A water spicket and one shared bathroom are available for use within the pole barn facility; the bathroom is located on the back side of the building. The property is in close proximity to Glen Lake, Glen Arbor, Empire, Lake Ann, Long Lake, and Traverse City. The intended use of the property is for storage of boats, seasonal vehicles, docks, water toys, or other items. Association dues are approximately $750 annually and cover snow plowing and road maintenance. Additional similar units are planned for completion in fall 2025.
    Location Intelligence

    Current Use by Public Records

    Glen Lake Recreational ... Storage Facility

    Suggested Use

    Storage Facility Grocery & Convenience Store Food Market Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Empire
    County
    Leelanau
    State
    Michigan
    Longitude
    -85.931201
    Latitude
    44.8081495

    Nearby Similar for Sale

    • $130,000

      Vacant Lot for Storage

      40x40 storage spaces near Glen Lake, Glen Arbor, and Empire.
      3636 W Empire Highway, Empire, MI 49630
      View Details
    • $399,000

      Operational Orchard with Lake Views

      12+ acre apple orchard with Lake Michigan views.
      8200 W Empire Highway, Empire, MI 49630
      View Details
    • $2,295,000
      3 SF

      Glen Lake Manor Redevelopment Opportunity

      Historic Glen Lake Manor on 5 wooded acres with frontage.
      7345 W Glenmere Road Empire, MI 49630, MI 49630
      View Details

    FAQs

    What type of property is this?
    Self storage facility - 1600 SF storage space near Glen Lake, Empire, MI.
    Where is this self storage facility located?
    The property is located at 3636 W Empire Highway Empire, MI.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Brand new 1600 sq ft pole barn with certificate of occupancy.; Features two 14' x 14' insulated overhead doors for easy access.; Ideal for storing boats, vehicles, and other seasonal items.
    (231) 334-6100
    We can help!
    Listing Contact
    Ranae Ihme
    Ranae Ihme
    Learn More
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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.

    More about this property
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