Residential Income Property with Road
8921 US-31 Grawn, MI 49637
8921 US-31, Grawn, MI, 49637
$395,000
For Sale
$395,000
COMMERCIAL - Grawn, MI
Property Size1,276 SF
Lot Size3.20 Acres
Price / SF$309.56
Days on Market412
Property Features for 8921 US-31
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Exterior features
- Vinyl, Stone
- Standard status
- Active
- Size
- 1,276 SF
- Lot size
- 3.20 Acres
Taxes and HOA fees
- Tax Description
- COM AT INT OF S R/W LN US 31 & W LN OF NW 1/4 OF NW 1/4 TH E ALONG R/W LINE 33 FT TO POB TH S 300 FT E 460 FT N 300 FT TH W ALONG R/W US 31 460 FT TO POB SEC 15 T26N R12W. 3 A.
Utilities
- Water source
- Private
Building Details
- Building materials
- Frame
- Roof type
- Asphalt
Listing Agency
Bouwman Realty Group
(231) 631-4919
2784 M-137, Interlochen, MI
Listed by
Laurie Bouwman
(231) 631-4919
Added: Jun 2, 2025 Checked: Jul 18 at 5:06 am
MLS# 1934600
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 property includes a residential structure with character features, situated on a wooded back setting. Improvements noted in the remarks include a two-car garage, two large sheds, and a fieldstone fireplace. The offering is supported by substantial road frontage and includes options described for land configuration, including the ability to split the property if desired.
The site is located in Grawn, Michigan, with frontage on US Highway 31. The property is currently zoned Residential, while the Future Master Plan of the township designates the property for Commercial use, and the remarks state zoning can be changed per the township. The location is described as very close to Interlochen Corners, where development is underway, and within reach of Interlochen Village, Interlochen Center for the Arts, and Traverse City.
For buyers, this may be of interest where residential income or mixed-use planning is being considered, given the combination of a livable home, outbuildings, and documented commercial designation in the township’s future plan. The significant road frontage and potential to split the land can support different operational concepts, subject to applicable approvals and the township’s process for zoning changes.
The site is located in Grawn, Michigan, with frontage on US Highway 31. The property is currently zoned Residential, while the Future Master Plan of the township designates the property for Commercial use, and the remarks state zoning can be changed per the township. The location is described as very close to Interlochen Corners, where development is underway, and within reach of Interlochen Village, Interlochen Center for the Arts, and Traverse City.
For buyers, this may be of interest where residential income or mixed-use planning is being considered, given the combination of a livable home, outbuildings, and documented commercial designation in the township’s future plan. The significant road frontage and potential to split the land can support different operational concepts, subject to applicable approvals and the township’s process for zoning changes.
Key Highlights
- Over 425 ft of road frontage on US Highway 31
- Futures master plan designates the property Commercial (currently zoned Residential; change may be possible per Township)
- Home features a two‑car garage plus two large sheds
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.0k | $18.00 |
| − Vacancy | −$919 | −$0.72 |
| EGI | $22.0k | $17.28 |
| − OpEx | −$9.9k | −$7.78 |
| NOI | $12.1k | $9.50 |
1,276 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$173.2K
$151.6K – $202.1K
NOI $12,127 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$277.2K
$242.5K – $323.4K
NOI $19,403 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Extensive highway frontage and on-site structures offer flexible use considerations, with commercial designation noted in the township plan.
Where is this single family property located?
The property is located at 8921 US-31 Grawn, MI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Over 425 ft of road frontage on US Highway 31; Futures master plan designates the property Commercial (currently zoned Residential; change may be possible per Township); Home features a two‑car garage plus two large sheds
