Mixed-Use Development
For Sale
$1,995,000
4160 M-72 E, Williamsburg, MI 49690
Commercial, Williamsburg, MI
Property Size12,259 SF
Lot Size4.35 Acres
Price / SF$162.74
Days on Market263
Property Features for 4160 M-72 E
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Retail, Commercial, Planned Unit Development
Parking features
Parking Lot
Lot features
Freestanding
Directions
From Traverse City, take US-31 N to E M-72 in Acme and turn right. Property is on the right, just past KOTI Vacation Rentals and Northern Michigan Veterinary Hospital.
Subdivision
Grand Traverse
Standard status
Active
Size
12,259 SF
Lot size
4.35 Acres
Taxes and HOA fees
Tax Description
Lengthy legal - See Associated Documents
Tax Annual Amount
126931
Legal Description
Lengthy legal - See Associated Documents
Building Details
Building materials
Frame
Listing Agency:
REMAX Bayshore - West Shore Dr TC · RE/MAX International
(231) 941-4500
Listed By:
Robert Brick · License #6502134537
(231) 715-1464
Added: Dec 12, 2025
Changed: Aug 19
Last Checked: Sep 1 at 5:06PM
MLS# 1941135
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.
Investment Insights
Based on property information with market context.
This 4.35-acre mixed-use property includes an existing building and an approved PD for additional construction. The approved plan accommodates a 32,300-square-foot building footprint with a 45-foot height requirement, retail space on the first floor for up to 19 units, and two floors of residential condominium units. Site infrastructure is in place, including underground sewer, water, electric, cable, and storm water management. A parking lot is also included.
The property is located at 4160 M-72 E in Williamsburg, adjacent to Acme Meijer and approximately 1/4 mile from the east arm of Grand Traverse Bay and Bayside Park. Turtle Creek Casino is 3.5 miles away, while Grand Traverse Resort & Spa and its golf courses are less than 1.5 miles from the site. Direct access to the TART Trail and the bridge over Acme Creek provides a connection to the adjoining KOTI property.
The property is located at 4160 M-72 E in Williamsburg, adjacent to Acme Meijer and approximately 1/4 mile from the east arm of Grand Traverse Bay and Bayside Park. Turtle Creek Casino is 3.5 miles away, while Grand Traverse Resort & Spa and its golf courses are less than 1.5 miles from the site. Direct access to the TART Trail and the bridge over Acme Creek provides a connection to the adjoining KOTI property.
Key Highlights
- 4.35‑acre mixed‑use property at 4160 M‑72 E, Williamsburg, MI 49690
- Approved PD allows a 32,300 sq ft building footprint with a 45‑foot height requirement
- Plan provides first‑floor retail space for up to 19 units plus 2 residential condominium floors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$151,580
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,031,600
$3.0M
Cap Rate 7%
$2,165,429
$2.2M
Cap Rate 9%
$1,684,222
$1.7M
Market Conditions
NOI Build-Up for 12,259 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$235.4K $19.20/SF
− Vacancy
−$18.8K −$1.54/SF
EGI
$216.5K $17.66/SF
− OpEx
−$65.0K −$5.30/SF
NOI
$151.6K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,031,600
Cap Rate 7%
$2,165,429
Cap Rate 9%
$1,684,222
Alternative Uses
Best Use
Retail
$2.17M
$1.89M – $2.53M
NOI $151,580 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,510 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,415 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 49690, MI
6,494
Population
3,476
Households
1.9
Avg Household Size
50
Median Age
45%
College-Educated
97%
High-School Grad
82.7 sq mi
ZIP Area
79
Density / Sq Mi
$105,701
Median Household Income
$47,114
Median Earnings
$1,279
Median Rent
$329,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Approved mixed-use plan with an existing building and fully developed underground site infrastructure.
Where is this mixed-use property located?
The property is located at 4160 M-72 E Williamsburg, MI.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4.35‑acre mixed‑use property at 4160 M‑72 E, Williamsburg, MI 49690; Approved PD allows a 32,300 sq ft building footprint with a 45‑foot height requirement; Plan provides first‑floor retail space for up to 19 units plus 2 residential condominium floors
