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    Versatile Commercial Property Near Boyne Title is generated by Realmo AI

    580 S M-75, Boyne City, MI 49712

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    Claim this Listing
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    For Sale
    $449,000

    Commercial/Industrial - Boyne City, MI

    Property size:
    3,790 SF
    Lot size:
    2.02 Acres
    Price / SF:
    $118/SF
    Added:
    May 19, 2026
    Days on Market:
    7
    Last Refresh:
    May 25 at 3:06 am

    Property Features for 580 S M-75

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    1
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1, Bedroom 1
    Interior features
    Refrigerator, Washer, Ample Parking, Hardwood Floors, Dryer, Range, Exhaust Fan
    Basement Y/N
    1
    Appliances
    Dryer, Range, Refrigerator
    Standard status
    Active
    APN
    part of 002-006-025-30
    Size
    3,790 SF
    Lot size
    2.02 Acres

    Utilities

    Heating system
    Baseboard, Forced Air, Hot Water (Heating), Natural Gas

    Building Details

    Floors in Building
    2
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Erika Nita
    Erika Nita

    Listing agent Erika Nita

    Listing office @properties Christie's International Real Estate - Petoskey 416 E. Mitchell, Suite 1, Boyne City, MI

    Listing date May 19, 2026

    MLS# 479379 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

    • Commercially zoned 2‑acre property near Boyne Mountain Resort, suitable for business owners, investors, or live‑work arrangements.
    • Expansive building with 2790 sq ft of finished space, adaptable for offices, retail, workshops, or storage, with a 10‑foot garage door.
    • Includes a 1000 sq ft, 1‑bedroom apartment with full kitchen and open living space, ideal for owner's residence, employee housing, or rental income.
    • Located just 3 miles from Boyne Mountain, offering convenient access to skiing, golf, dining, and other recreational activities.
    • Versatile property with features such as ample parking, hardwood floors, and included appliances (refrigerator, washer, dryer, range).
    • Heating system includes baseboard, forced air, hot water, and natural gas.

    Overview

    Located just outside Boyne City and minutes from Boyne Mountain Resort, this 2.02-acre commercially zoned property offers opportunities for business owners, investors, entrepreneurs, or those seeking a live-work lifestyle. The expansive building, most recently used as office space, is designed to accommodate various commercial and mixed-use possibilities. The main level features 2790 finished square feet with a well-finished interior layout, three half bathrooms, and a 10-foot garage door suitable for storage, workshop use, service operations, or equipment access. The space is suited for professional offices, contractor headquarters, showroom space, creative studios, retail concepts, recreational storage, and other opportunities. Above, there is a 1000 square foot 1-bedroom, 3/4-bath apartment with a full kitchen, dining area, and an open-concept living space. The upper-level living quarters can be used as an owner’s residence, employee housing, rental opportunity, or guest accommodations. The property is approximately 3 miles from Boyne Mountain, near skiing, golf, mountain biking, dining, and year-round tourism. The location offers a balance of privacy, accessibility, and potential.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $413.9K
    NOI $37,248 @ 9.00% cap · cautious / downside scenario
    Moderate
    $532.1K
    NOI $37,248 @ 7.00% cap · market / base-case scenario
    Aggressive
    $745.0K
    NOI $37,248 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $63.7k $16.80
    − Vacancy −$14.0k −$3.70
    EGI $49.7k $13.10
    − OpEx −$12.4k −$3.28
    NOI $37.2k $9.83
    3,790 SF · lease $16.80/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $532.1K
    $465.6K – $620.8K (±1% cap)
    NOI $37,248 @ 7.0% cap · market cap 8.30%
    Second Best
    Mixed Use
    $517.7K
    $453.0K – $604.0K (±1% cap)
    NOI $36,242 @ 7.0% cap · market cap 8.07%
    Theoretical Best
    Office A
    $767.2K
    $671.3K – $895.1K (±1% cap)
    NOI $53,703 @ 7.0% cap · market cap 11.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Boyne City
    County
    Charlevoix
    State
    Michigan
    Longitude
    -85.0165
    Latitude
    45.1711

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    FAQs

    What type of property is this?
    Mixed-use property - Commercially zoned property with mixed-use possibilities near Boyne Mountain.
    Where is this mixed-use property located?
    The property is located at 580 S M-75 Boyne City, 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: Commercially zoned 2‑acre property near Boyne Mountain Resort, suitable for business owners, investors, or live‑work arrangements.; Expansive building with **2790 sq ft of finished space**, adaptable for offices, retail, workshops, or storage, with a **10‑foot garage door**.; Includes a **1000 sq ft, 1‑bedroom apartment** with full kitchen and open living space, ideal for owner's residence, employee housing, or rental income.
    (231) 631-2946
    We can help!
    Listing Contact
    Erika Nita
    Erika Nita
    Real Estate License ID: 6501408018
    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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