Heated Warehouse
For Sale
$189,000
13715 Clark Road, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size1,440 SF
Price / SF$131.25
Days on Market95
Property Features for 13715 Clark Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
South on M-66 from Charlevoix, Turn Left on Loeb then right on Clark Rd and the buildings are on the right after a quarter mile.
Subdivision
Marion
Standard status
Active
APN
009-555-013-00
Size
1,440 SF
Taxes and HOA fees
Tax Description
NORTHERN STORAGE CLUB UNIT 13
HOA Fee
$720 Annually
Legal Description
NORTHERN STORAGE CLUB UNIT 13
Utilities
Heating system
Natural Gas
Building Details
Building materials
Wood Frame
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed By:
Matthew Murray · License #6501441581
(231) 675-3730
Added: Jun 2
Changed: Aug 19
Last Checked: Sep 4 at 7:06PM
MLS# 477976
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.
Unit 13 is a planned 1,440-square-foot warehouse building measuring 30'x48'. The wood-frame structure will have a metal roof, full metal interior walls, electric service, LED lighting, natural gas, and in-floor heat. An electronic overhead door is included with the finished building.
The property is part of a new association with a paved drive, electronic gate, security fencing, and community water. Its setting is described as close to town and the city launch ramp. Construction is scheduled for completion by fall of 2026, with certain building changes or upgrades available at the buyer’s request.
The property is part of a new association with a paved drive, electronic gate, security fencing, and community water. Its setting is described as close to town and the city launch ramp. Construction is scheduled for completion by fall of 2026, with certain building changes or upgrades available at the buyer’s request.
Key Highlights
- Unit 13 measures 30'x48' and contains 1,440 square feet
- New warehouse construction scheduled for completion by fall of 2026
- In‑floor heat, natural gas, electric service, and LED lighting
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
$10,972
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
5.81%
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%
$219,440
$219.4K
Cap Rate 7%
$156,743
$156.7K
Cap Rate 9%
$121,911
$121.9K
Market Conditions
NOI Build-Up for 1,440 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
$14.3K $9.96/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$12.9K $8.96/SF
− OpEx
−$1.9K −$1.34/SF
NOI
$11.0K $7.62/SF
Area
Charlevoix County, MI
Vacancy
10.00%
Lease Rate
$9.96 /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%
$219,440
Cap Rate 7%
$156,743
Cap Rate 9%
$121,911
Alternative Uses
Best Use
Warehouse
$156.7K
$137.2K – $182.9K
NOI $10,972 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.5K
$255.1K – $340.1K
NOI $20,404 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walstrom Marine — 6472 M-66 N, Charlevoix, MI 49720
- National Storage — 6600 M-66, Charlevoix, MI 49720
Frequently Asked Questions
What type of property is this?
Warehouse - Planned wood-frame building with finished electric, LED lighting, metal interiors, and an electronic overhead door.
Where is this warehouse located?
The property is located at 13715 Clark Road Charlevoix, MI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Unit 13 measures 30'x48' and contains 1,440 square feet; New warehouse construction scheduled for completion by fall of 2026; In‑floor heat, natural gas, electric service, and LED lighting
