Standalone Office
For Sale
$399,000
6536 N M-66 Highway, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size2,500 SF
Lot Size0.52 Acres
Price / SF$159.60
Days on Market69
Property Features for 6536 N M-66 Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Com
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
From US 31 turn onto M 66 N, property is on the left in the old Kmart parking lot.
Subdivision
Charlevoix City
Standard status
Active
APN
004-035-012-50
Size
2,500 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
See Attached
Legal Description
See Attached
Amenities
secure, walk-in vault
Building Details
Year built
2010
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed By:
A. Mitts Lee
(231) 675-1977
Added: Jul 2
Changed: Aug 19
Last Checked: Sep 8 at 6:06AM
MLS# 479219
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.
Investment Insights
Based on property information with market context.
This standalone office building provides 2,500 square feet of professional workspace in a configuration that includes a lobby, multiple private offices, and a dedicated conference room. A secure walk-in vault and existing parking add practical functionality for a range of office operations. Built in 2010, the property is zoned Com.
The building is positioned along the M-66 corridor, approximately 4 miles from downtown Charlevoix. Its location in Charlevoix, Michigan, combines a visible highway setting with convenient proximity to the downtown area.
The building is positioned along the M-66 corridor, approximately 4 miles from downtown Charlevoix. Its location in Charlevoix, Michigan, combines a visible highway setting with convenient proximity to the downtown area.
Key Highlights
- 2,500‑square‑foot standalone office building
- Built in 2010 and zoned Com
- Located on the M‑66 corridor, 4 miles from downtown Charlevoix
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
$24,570
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
6.16%
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%
$491,400
$491.4K
Cap Rate 7%
$351,000
$351.0K
Cap Rate 9%
$273,000
$273.0K
Market Conditions
NOI Build-Up for 2,500 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
$42.0K $16.80/SF
− Vacancy
−$9.2K −$3.70/SF
EGI
$32.8K $13.10/SF
− OpEx
−$8.2K −$3.28/SF
NOI
$24.6K $9.83/SF
Area
Charlevoix County, MI
Vacancy
22.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$491,400
Cap Rate 7%
$351,000
Cap Rate 9%
$273,000
Alternative Uses
Best Use
Office B
$351.0K
$307.1K – $409.5K
NOI $24,570 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$506.1K
$442.8K – $590.4K
NOI $35,424 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 49720, MI
9,127
Population
6,236
Households
1.5
Avg Household Size
52
Median Age
38%
College-Educated
97%
High-School Grad
95.5 sq mi
ZIP Area
96
Density / Sq Mi
$76,127
Median Household Income
$41,563
Median Earnings
$985
Median Rent
$265,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Professional office layout with private rooms, conference space, secure vault, and on-site parking.
Where is this office building located?
The property is located at 6536 N M-66 Highway Charlevoix, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,500‑square‑foot standalone office building; Built in 2010 and zoned Com; Located on the M‑66 corridor, 4 miles from downtown Charlevoix
