New Storage Barns For
For Sale
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1340 Mcgregor Way, Grawn, MI 49637
Newly constructed storage barns, convenient location near Interlochen and Traverse City.
Property Size2,400 SF
Price / SF$70.79
Days on Market512
Property Features for 1340 Mcgregor Way
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Mixed Use
Building Details
Year Built
2024
Listing Agency:
Coldwell Banker Commercial Schmidt, Realtors Traverse City
Listed By:
Adam Miller · License #MI
Source:
Crexi
Added: May 12, 2025
Changed: Sep 24
Last Checked: Oct 5 at 6:18PM
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 Commercial Schmidt, Realtors Traverse City
Investment Insights
Based on property information with market context.
Newly constructed storage barns are available, each measuring 40x60, totaling 2,400 square feet. Each unit includes 16-foot doors, a utility door, 4-inch concrete flooring, and a 200-amp electrical panel. The property is located approximately 10 miles from downtown Traverse City and 4.5 miles from Interlochen. The storage units are situated on the left side towards the end of McGregor Way, accessible by traveling west on US 31 from Chums Corners towards Interlochen and then turning right onto McGregor Way. The property is suitable for use as self-storage facilities, industrial properties, or other commercial real estate ventures.
Key Highlights
- Newly constructed 40x60 storage barns (2,400 sq ft)
- Conveniently located 10 miles from downtown TC and 4.5 miles from Interlochen
- 16' doors for easy access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,986
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,720
$279.7K
Cap Rate 7%
$199,800
$199.8K
Cap Rate 9%
$155,400
$155.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$21.6K $9.00/SF
− Vacancy
−$1.6K −$0.68/SF
EGI
$20.0K $8.33/SF
− OpEx
−$6.0K −$2.50/SF
NOI
$14.0K $5.83/SF
Area
Grand Traverse County, MI
Vacancy
7.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,720
Cap Rate 7%
$199,800
Cap Rate 9%
$155,400
Alternative Uses
Best Use
Self Storage
$286.2K
$250.4K – $333.9K
NOI $20,031 @ 7.0% cap · market cap 11.79%
Second Best
Industrial
$199.8K
$174.8K – $233.1K
NOI $13,986 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 21.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 49637, MI
3,466
Population
1,562
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
156
Density / Sq Mi
$74,871
Median Household Income
$29,035
Median Earnings
$1,309
Median Rent
$228,100
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 Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Newly constructed storage barns, convenient location near Interlochen and Traverse City.
Where is this self storage facility located?
The property is located at 1340 Mcgregor Way Grawn, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Newly constructed 40x60 storage barns (2,400 sq ft); Conveniently located 10 miles from downtown TC and 4.5 miles from Interlochen; 16' doors for easy access
