Office Building with Finished
New
For Sale
$787,000
1031 May Street, Charlevoix, MI 49720
Commercial, Charlevoix, MI
Property Size6,369 SF
Lot Size1.36 Acres
Price / SF$123.57
Days on Market4
Property Features for 1031 May Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Commercial
Parking features
Parking Lot
Exterior features
Brick
Lot features
Corner Lot, Freestanding
Directions
Northwest corner of the intersection of Stover Rd and May St.
Subdivision
Charlevoix
Standard status
Active
Size
6,369 SF
Lot size
1.36 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
C2 BEG ON W1/8 LI SEC 35 T34N R8W C/L MAY 315FT N C/L STOVER S ON 1/8 LI 315FT TO C/L STOVER W ALG C/L STOVER 244FT N PARA1/8 LI 315FT E 244FT TO POB BEING PT OF SW1/4 OF NW1/4 SEC 35 T34N R8W SUBJ TO R/W OF STOVER RD & MAY ST.
Legal Description
C2 BEG ON W1/8 LI SEC 35 T34N R8W C/L MAY 315FT N C/L STOVER S ON 1/8 LI 315FT TO C/L STOVER W ALG C/L STOVER 244FT N PARA1/8 LI 315FT E 244FT TO POB BEING PT OF SW1/4 OF NW1/4 SEC 35 T34N R8W SUBJ TO R/W OF STOVER RD & MAY ST.
Building Details
Building materials
Frame
Roof type
Asphalt
Buildings
1
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Noah Endres · License #6501461941
(231) 632-1125
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 31 at 6:06AM
MLS# 1952134
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.
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Investment Insights
Based on property information with market context.
This 6,369-square-foot office property occupies a 1.36-acre site and includes a finished basement. The single-building layout dates to 1998, with frame construction, a brick exterior, an asphalt roof, and a parking lot. PO zoning applies to the property.
At the northwest corner of Stover Road and May Street in Charlevoix, the site has a defined corner position. A five-year deed restriction bars use as a bank or credit union, including related ATMs and kiosks; other commercial uses are permitted subject to local zoning. The building previously operated as a bank.
At the northwest corner of Stover Road and May Street in Charlevoix, the site has a defined corner position. A five-year deed restriction bars use as a bank or credit union, including related ATMs and kiosks; other commercial uses are permitted subject to local zoning. The building previously operated as a bank.
Key Highlights
- 6,369‑square‑foot office building with finished basement
- 1.36‑acre site at the northwest corner of Stover Road and May Street
- Built in 1998; frame construction with brick exterior and asphalt roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,595
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,251,900
$1.3M
Cap Rate 7%
$894,214
$894.2K
Cap Rate 9%
$695,500
$695.5K
Market Conditions
NOI Build-Up for 6,369 SF
Gross rent
$107.0K $16.80/SF
− Vacancy
−$23.5K −$3.70/SF
EGI
$83.5K $13.10/SF
− OpEx
−$20.9K −$3.28/SF
NOI
$62.6K $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 Rate 5%
$1,251,900
Cap Rate 7%
$894,214
Cap Rate 9%
$695,500
Alternative Uses
Best Use
Office B
$894.2K
$782.4K – $1.04M
NOI $62,595 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,246 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - PO zoning and a parking lot support the building’s professional office configuration.
Where is this office building located?
The property is located at 1031 May Street Charlevoix, MI.
What is the asking price?
The asking price for this property is $787,000.
What are key features of this property?
This property features: 6,369‑square‑foot office building with finished basement; 1.36‑acre site at the northwest corner of Stover Road and May Street; Built in 1998; frame construction with brick exterior and asphalt roof
