Mixed-Use Office and Apartment
New
For Sale
$349,000
1301 Bridge Street, Charlevoix, MI 49720
Commercial office space occupies the main level, with a two-bedroom apartment above.
Property Size1,989 SF
Price / SF$175.47
Days on Market4
Property Features for 1301 Bridge Street
General Information
Standard status
Active
Size
1,989 SF
Property subtype
Commercial
Zoning
commercial
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Property Use
Mixed-Use
Building Details
Building Size
1,989 SF
Listing Agency:
Berkshire Hathaway Homeservices Real Estate
Listed By:
Matthew Murray · License #6501441581
(231) 675-3730
Source:
Jackvantreese
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 24 at 3:08PM
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 Berkshire Hathaway Homeservices Real Estate
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Investment Insights
Based on property information with market context.
This mixed-use building combines a commercial office on the main floor with a two-bedroom apartment on the level above. The property is zoned commercial and is located near downtown Charlevoix amenities.
Key Highlights
- Main‑level commercial office space
- Two‑bedroom apartment above the office
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,548
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,960
$391.0K
Cap Rate 7%
$279,257
$279.3K
Cap Rate 9%
$217,200
$217.2K
Market Conditions
NOI Build-Up for 1,989 SF
Gross rent
$33.4K $16.80/SF
− Vacancy
−$7.4K −$3.70/SF
EGI
$26.1K $13.10/SF
− OpEx
−$6.5K −$3.28/SF
NOI
$19.5K $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%
$390,960
Cap Rate 7%
$279,257
Cap Rate 9%
$217,200
Alternative Uses
Best Use
Office B
$279.3K
$244.4K – $325.8K
NOI $19,548 @ 7.0% cap · market cap 5.60%
Second Best
Mixed Use
$271.7K
$237.8K – $317.0K
NOI $19,020 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$402.6K
$352.3K – $469.7K
NOI $28,183 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial office space occupies the main level, with a two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 1301 Bridge Street Charlevoix, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Main‑level commercial office space; Two‑bedroom apartment above the office; Commercial zoning
