Climate-Controlled Flex
For Sale
Contact for pricing
117 S Lake Street, East Jordan, MI 49727
An open-plan space accommodates storage, light assembly, showroom, fitness, or contractor operations.
Property Size3,900 SF
Price / SF$0.50
Days on Market18
Property Features for 117 S Lake Street
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Commercial
Additional Details
Conditioned Warehouse
Yes
Property Use
Flex/Warehouse
Building Details
Year Built
1956
Listing Agency:
Manitou Commercial Real Estate, LLC
Listed By:
Kevin Query · License #6502433236
(231) 632-9596
Source:
Goodhomemi
Added: Oct 15
Changed: Oct 28
Last Checked: Nov 1 at 1:43AM
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 Manitou Commercial Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 3,900-square-foot flex and warehouse suite provides climate-controlled space in Lake Street Center. Its open 30' x 130' layout can support light assembly, contractor shop activity, showroom and storage, fitness or recreation uses, and equipment or inventory storage.
The center is located on Lake Street, also designated M-66, in East Jordan. Nearby occupants include contractors and marine and motorsports businesses. Shared parking is available on site. The building dates to 1956.
The center is located on Lake Street, also designated M-66, in East Jordan. Nearby occupants include contractors and marine and motorsports businesses. Shared parking is available on site. The building dates to 1956.
Key Highlights
- 3,900 SF climate‑controlled flex/warehouse suite
- Open 30' x 130' footprint
- Located in Lake Street Center on Lake Street (M‑66), East Jordan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,622
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,440
$432.4K
Cap Rate 7%
$308,886
$308.9K
Cap Rate 9%
$240,244
$240.2K
Market Conditions
NOI Build-Up for 3,900 SF
Gross rent
$35.1K $9.00/SF
− Vacancy
−$4.2K −$1.08/SF
EGI
$30.9K $7.92/SF
− OpEx
−$9.3K −$2.38/SF
NOI
$21.6K $5.54/SF
Area
Charlevoix County, MI
Vacancy
12.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,440
Cap Rate 7%
$308,886
Cap Rate 9%
$240,244
Alternative Uses
Best Use
Flex RnD
$532.9K
$466.3K – $621.7K
NOI $37,303 @ 7.0% cap · market cap 1,912.97%
Second Best
Warehouse
$424.5K
$371.5K – $495.3K
NOI $29,716 @ 7.0% cap · market cap 1,523.90%
Theoretical Best
Office A
$789.4K
$690.8K – $921.0K
NOI $55,261 @ 7.0% cap · market cap 2,833.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49727, MI
6,887
Population
4,075
Households
1.7
Avg Household Size
46
Median Age
24%
College-Educated
92%
High-School Grad
120.0 sq mi
ZIP Area
57
Density / Sq Mi
$70,288
Median Household Income
$42,500
Median Earnings
$821
Median Rent
$187,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - An open-plan space accommodates storage, light assembly, showroom, fitness, or contractor operations.
Where is this flex space located?
The property is located at 117 S Lake Street East Jordan, MI.
What are key features of this property?
This property features: 3,900 SF climate‑controlled flex/warehouse suite; Open 30' x 130' footprint; Located in Lake Street Center on Lake Street (M‑66), East Jordan
