Climate-Controlled Garage Storage
For Sale
$575,000
1217 A Auto Avenue, Harbor Springs, MI 49740
COMMERCIAL - Harbor Springs, MI
Property Size2,160 SF
Price / SF$266.20
Days on Market325
Property Features for 1217 A Auto Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
LTT B-2
Window features
Vinyl Frames
Elementary school district
Harbor Springs
Middle school district
Harbor Springs
High school district
Harbor Springs
Directions
East on West Conway Rd, left on Auto Ave.
Subdivision
Little Traverse
Standard status
Active
APN
08-16-14-100-022
Size
2,160 SF
Taxes and HOA fees
Tax Description
PART OF COM AT W 1/4 COR OF SECTION 14, TH N90o00'00"E 1383.35 FTALG E/W 1/4 OF SD SEC, TH N00o22'29
HOA Fee
$400 Monthly
Legal Description
PART OF COM AT W 1/4 COR OF SECTION 14, TH N90o00'00"E 1383.35 FTALG E/W 1/4 OF SD SEC, TH N00o22'29
Utilities
Heating system
Natural Gas
Water source
Well
Amenities
restrooms
irrigated green space
gated community
Building Details
Year built
2024
Roof type
Metal
Listing Agency:
Graham Real Estate
(231) 526-6251
Listed By:
Heidi Kresnak
(231) 838-1977
Added: Sep 29, 2025
Changed: Aug 4
Last Checked: Aug 19 at 9:06AM
MLS# 474842
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 property is a gated, garage-style storage community offering climate-controlled units designed for vehicle storage and collector use. Storage options are described as ranging from 1,280 to 6,000 square feet, with restrooms available on-site for convenience and entertaining. The site also features a large irrigated green space and wide paved drive designed to support easy maneuvering for trailers and car haulers.
Located in Harbor Springs, Michigan within Emmet County, the community sits on a parcel of land in a secure setting. The wide paved drive and maneuverability features are intended to accommodate larger vehicle transport needs while maintaining a controlled access environment.
For buyers, this configuration supports use cases where temperature-controlled storage and on-site restroom access are important, along with practical drive layout for trailer and hauler handling. The combination of climate-controlled units, secure gated setting, and irrigated green space may appeal to individuals or operators seeking a garage storage environment built for automotive collections and year-round preservation.
Located in Harbor Springs, Michigan within Emmet County, the community sits on a parcel of land in a secure setting. The wide paved drive and maneuverability features are intended to accommodate larger vehicle transport needs while maintaining a controlled access environment.
For buyers, this configuration supports use cases where temperature-controlled storage and on-site restroom access are important, along with practical drive layout for trailer and hauler handling. The combination of climate-controlled units, secure gated setting, and irrigated green space may appeal to individuals or operators seeking a garage storage environment built for automotive collections and year-round preservation.
Key Highlights
- Year built: 2024
- Secure, gated community property in Harbor Springs ("The Gatherings")
- Luxury garages/barns in a range of sizes from 1,280 SF to 6,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,218
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$684,360
$684.4K
Cap Rate 7%
$488,829
$488.8K
Cap Rate 9%
$380,200
$380.2K
Market Conditions
NOI Build-Up for 2,160 SF
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.
Gross rent
$43.3K $20.04/SF
− Vacancy
−$3.0K −$1.40/SF
EGI
$40.3K $18.64/SF
− OpEx
−$6.0K −$2.80/SF
NOI
$34.2K $15.84/SF
Area
Emmet County, MI
Vacancy
7.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$684,360
Cap Rate 7%
$488,829
Cap Rate 9%
$380,200
Alternative Uses
Best Use
Warehouse
$488.8K
$427.7K – $570.3K
NOI $34,218 @ 7.0% cap · market cap 5.95%
Second Best
Self Storage
$402.6K
$352.2K – $469.7K
NOI $28,179 @ 7.0% cap · market cap 4.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 49740, MI
7,511
Population
6,057
Households
1.2
Avg Household Size
55
Median Age
46%
College-Educated
97%
High-School Grad
124.9 sq mi
ZIP Area
60
Density / Sq Mi
$85,230
Median Household Income
$38,820
Median Earnings
$997
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Gated garage-style storage with climate control, restrooms, irrigated green space, and wide paved access for trailers and car haulers.
Where is this self storage facility located?
The property is located at 1217 A Auto Avenue Harbor Springs, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Year built: 2024; Secure, gated community property in Harbor Springs ("The Gatherings"); Luxury garages/barns in a range of sizes from 1,280 SF to 6,000 SF
