Industrial Zoned Warehouse
05321 Block Road Charlevoix, MI 49720
For Sale
$1,200,000
Five-acre industrial-zoned property with prime US-31 South road frontage and a commercial building.
Property Size9,600 SF
Lot Size5.00 Acres
Price / SF$125
Days on Market59
Property Features for 05321 Block Road
General Information
Standard status
Active
Size
9,600 SF
Lot size
5.00 Acres
Property subtype
Commercial
Building Details
Year Built
2019
Listing Agency:
Real Estate One - Charlevoix
Listed By:
Dennis Mitchell
(231) 526-9889
Source:
Harborsir
Added: Jun 1
Changed: Jul 11
Last Checked: Jul 28 at 11:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate One - Charlevoix
Investment Insights
Based on property information with market context.
This for-sale industrial property includes approximately five acres zoned Industrial and a commercial building of about 9,600 square feet. The site is positioned for businesses that need space within an industrial zoning framework.
The property has prime road frontage on US-31 South and is located just two miles south of Charlevoix “the Beautiful,” a Lake Michigan destination.
With its industrial zoning and highway frontage, the property offers a straightforward setup for prospective owners evaluating an industrial site for their business needs.
The property has prime road frontage on US-31 South and is located just two miles south of Charlevoix “the Beautiful,” a Lake Michigan destination.
With its industrial zoning and highway frontage, the property offers a straightforward setup for prospective owners evaluating an industrial site for their business needs.
Key Highlights
- 5‑acre property zoned Industrial
- Prime road frontage on US‑31 South
- Located two miles south of Charlevoix
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 | $95.6k | $9.96 |
| − Vacancy | −$9.6k | −$1.00 |
| EGI | $86.1k | $8.96 |
| − OpEx | −$12.9k | −$1.34 |
| NOI | $73.1k | $7.62 |
9,600 SF · lease $9.96/SF/yr · vacancy 10.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.04M
$914.3K – $1.22M
NOI $73,146 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,028 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Warehouse - Five-acre industrial-zoned property with prime US-31 South road frontage and a commercial building.
Where is this warehouse located?
The property is located at 05321 Block Road Charlevoix, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5‑acre property zoned Industrial; Prime road frontage on US‑31 South; Located two miles south of Charlevoix
