Land with Pole
Farrell Rd Central Lake, MI 49622
Farrell Rd, Central Lake, MI, 49622
$187,000
For Sale
$187,000
LAND - Central Lake, MI
Property Size1,200 SF
Lot Size2.50 Acres
Price / SF$155.83
Days on Market15
Property Features for Farrell Rd
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- Res-Vacant
- Standard status
- Active
- APN
- 05-01-031-023-41
- Lot size
- 2.50 Acres
Taxes and HOA fees
- Tax Description
- COM A THE S 1/4 COR OF SEC 31; TH ALG THE N-S 1/4 LINE OF SD SEC N 00 DEG 08'59" E 659.78 cont....
Listing agency
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed by
Steve Parafin
(231) 676-0234
Added: Jul 8 Checked: Jul 22 at 4:06AM
MLS# 480059
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 2.5-acre parcel includes a 30x40 pole building with a 12-ft overhang and frontage on Eastport Creek. The property offers an existing structure in place for future storage and other uses, with usable acreage to support a range of potential site plans.
Located on Farrell Rd near Eastport, MI, the property is described as only minutes from Torch Lake. The listing notes buyer responsibility to verify all intended uses, zoning, building requirements, and utility availability.
Zoning is listed as Res-Vacant. Prospective buyers should confirm what uses and improvements may be permitted for this creek-front site and existing building.
Located on Farrell Rd near Eastport, MI, the property is described as only minutes from Torch Lake. The listing notes buyer responsibility to verify all intended uses, zoning, building requirements, and utility availability.
Zoning is listed as Res-Vacant. Prospective buyers should confirm what uses and improvements may be permitted for this creek-front site and existing building.
Key Highlights
- 2.5‑acre parcel just outside Eastport, MI with frontage on Eastport Creek
- 30x40 pole building with 12‑ft overhang on the property
- Property located on Farrell Road, minutes from Torch Lake
Local Financial Insights For Warehouse
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 | $9.6k | $8.04 |
| − Vacancy | −$357 | −$0.30 |
| EGI | $9.3k | $7.74 |
| − OpEx | −$1.4k | −$1.16 |
| NOI | $7.9k | $6.58 |
1,200 SF · lease $8.04/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$112.8K
$98.7K – $131.6K
NOI $7,897 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$213.6K
$186.9K – $249.2K
NOI $14,949 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Waterfront Land
Similar For Sale Nearby
FAQs
What type of property is this?
Warehouse - 2.5-acre parcel includes a 30x40 pole building with 12-ft overhang and frontage on Eastport Creek.
Where is this warehouse located?
The property is located at Farrell Rd Central Lake, MI.
What is the asking price?
The asking price for this property is $187,000.
What are key features of this property?
This property features: 2.5‑acre parcel just outside Eastport, MI with frontage on Eastport Creek; 30x40 pole building with 12‑ft overhang on the property; Property located on Farrell Road, minutes from Torch Lake
