Industrial Building with
222 Industrial Park Dr Elk Rapids, MI 49629
222 Industrial Park Dr, Elk Rapids, MI, 49629
$1,500,000
For Sale
$1,500,000
18,483 SF industrial building in Elk Rapids, Michigan.
Property Size18,483 SF
Lot Size1.71 Acres
Price / SF$81.16
Days on Market130
Property Features for 222 Industrial Park Dr
General Information
- Standard status
- Active
- Size
- 18,483 SF
- Lot size
- 1.71 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2000
Listing Agency
Three West, LLC
(231) 534-5225
Listed by
Kevin L Endres · License #6505352968
(231) 534-5225
Source
Elliman
Added: Mar 10 Checked: Jul 17 at 4:52 am
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 Three West, LLC
Investment Insights
Based on property information with market context.
Located in Elk Rapids, Michigan, 222 Industrial Park is an 18,483 square foot industrial building constructed in 2000. The property offers direct waterfrontage on Bass Lake. Currently configured as a clean manufacturing space, the building is equipped with heavy power and provides ample space for production, storage, and office functions. The property's zoning is favorable for industrial and manufacturing uses. This facility is suitable for diverse industrial and manufacturing operations, presenting a potential turnkey solution.
Key Highlights
- Prime industrial location in Elk Rapids, MI with direct waterfrontage on Bass Lake.
- Immaculately maintained 18,483 SF building constructed in 2000.
- Ideal for manufacturing and industrial operations with ample space for production, storage, and office needs.
Local 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 | $148.6k | $8.04 |
| − Vacancy | −$5.5k | −$0.30 |
| EGI | $143.1k | $7.74 |
| − OpEx | −$21.5k | −$1.16 |
| NOI | $121.6k | $6.58 |
18,483 SF · lease $8.04/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,639 @ 7.0% cap · market cap 8.11%
Second Best
Industrial
$1.43M
$1.25M – $1.67M
NOI $100,173 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,246 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Trelleborg
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Manufacturing property - 18,483 SF industrial building in Elk Rapids, Michigan.
Where is this manufacturing property located?
The property is located at 222 Industrial Park Dr Elk Rapids, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime industrial location in Elk Rapids, MI with direct waterfrontage on Bass Lake.; Immaculately maintained 18,483 SF building constructed in 2000.; Ideal for manufacturing and industrial operations with ample space for production, storage, and office needs.
