Flex Office Industrial
For Sale
$453,840
103 Harbor Dr, Charlevoix, MI 49720
Versatile flex space with an open floor plan, high ceilings, dedicated loading entrance, and off-street parking.
Property Size4,200 SF
Price / SF$108.06
Days on Market269
Property Features for 103 Harbor Dr
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Commercial
Building Details
Year Built
1971
Listing Agency:
Coldwell Banker Schmidt-Charlx
Listed By:
Lynn Robinson · License #6506042298
(231) 838-2024
Source:
Vmrealestatemichigan
Added: Jan 23
Changed: Oct 1
Last Checked: Oct 19 at 7:19AM
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 Coldwell Banker Schmidt-Charlx
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Investment Insights
Based on property information with market context.
Well-positioned commercial building in the City of Charlevoix near the entrance to the Charlevoix Airport. The space is configured with an open floor plan and high ceilings, offering flexible layout options for a range of commercial uses.
The property includes a dedicated loading and unloading entrance, city water and sewer, and natural gas radiant heat. Off-street parking is available for occupants and visitors.
With its versatile interior configuration and practical site features for move-in operations, this building supports both establishing and expanding a business within a high-visibility, accessible setting.
The property includes a dedicated loading and unloading entrance, city water and sewer, and natural gas radiant heat. Off-street parking is available for occupants and visitors.
With its versatile interior configuration and practical site features for move-in operations, this building supports both establishing and expanding a business within a high-visibility, accessible setting.
Key Highlights
- Well‑positioned commercial building in the City of Charlevoix near the entrance to Charlevoix Airport
- Open floor plan with high ceilings and versatile space for a wide range of commercial uses
- Dedicated loading/unloading entrance for easier deliveries and access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,278
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$825,560
$825.6K
Cap Rate 7%
$589,686
$589.7K
Cap Rate 9%
$458,644
$458.6K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$70.6K $16.80/SF
− Vacancy
−$15.5K −$3.70/SF
EGI
$55.0K $13.10/SF
− OpEx
−$13.8K −$3.28/SF
NOI
$41.3K $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 Rate 5%
$825,560
Cap Rate 7%
$589,686
Cap Rate 9%
$458,644
Alternative Uses
Best Use
Office B
$589.7K
$516.0K – $688.0K
NOI $41,278 @ 7.0% cap · market cap 9.10%
Second Best
Flex RnD
$573.9K
$502.2K – $669.5K
NOI $40,172 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$850.2K
$743.9K – $991.9K
NOI $59,512 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex space with an open floor plan, high ceilings, dedicated loading entrance, and off-street parking.
Where is this flex space located?
The property is located at 103 Harbor Dr Charlevoix, MI.
What is the asking price?
The asking price for this property is $453,840.
What are key features of this property?
This property features: Well‑positioned commercial building in the City of Charlevoix near the entrance to Charlevoix Airport; Open floor plan with high ceilings and versatile space for a wide range of commercial uses; Dedicated loading/unloading entrance for easier deliveries and access
