New Heated Warehouse
For Sale
$129,000
13715 Clark Road, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size896 SF
Price / SF$143.97
Days on Market51
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
009-555-015-00
Size
896 SF
Taxes and HOA fees
Tax Description
NOTHERN STORAGE CLUB UNIT 15
HOA Fee
$720 Annually
Legal Description
NOTHERN STORAGE CLUB UNIT 15
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: Jul 2
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 477978
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 15 is an 896-square-foot warehouse scheduled for new construction in a commercial-zoned development. The 28' X 32' wood-frame building will include a metal roof, natural gas service, electric power, LED lighting, and in-floor heat. A full metal interior provides a durable finished environment, while the electronic overhead door supports straightforward vehicle access.
The property is served by a paved drive within an association secured by an electronic gate and security fencing. Community water is provided. The site is located in Charlevoix near the city launch ramp and town amenities. Unit 15 will share a wall with Unit 14, and buyers may request certain building changes or upgrades during the process.
The property is served by a paved drive within an association secured by an electronic gate and security fencing. Community water is provided. The site is located in Charlevoix near the city launch ramp and town amenities. Unit 15 will share a wall with Unit 14, and buyers may request certain building changes or upgrades during the process.
Key Highlights
- 896‑square‑foot Unit 15 warehouse
- New 28' X 32' wood‑frame building with a shared wall with Unit 14
- Electric, LED lighting, natural gas, and in‑floor heat
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
$6,827
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
5.29%
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%
$136,540
$136.5K
Cap Rate 7%
$97,529
$97.5K
Cap Rate 9%
$75,856
$75.9K
Market Conditions
NOI Build-Up for 896 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
$8.9K $9.96/SF
− Vacancy
−$892 −$1.00/SF
EGI
$8.0K $8.96/SF
− OpEx
−$1.2K −$1.34/SF
NOI
$6.8K $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%
$136,540
Cap Rate 7%
$97,529
Cap Rate 9%
$75,856
Alternative Uses
Best Use
Warehouse
$97.5K
$85.3K – $113.8K
NOI $6,827 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$181.4K
$158.7K – $211.6K
NOI $12,696 @ 7.0% cap · market cap 9.84%
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
- National Storage — 6600 M-66, Charlevoix, MI 49720
- Walstrom Marine — 6472 M-66 N, Charlevoix, MI 49720
Frequently Asked Questions
What type of property is this?
Warehouse - Finished warehouse space with electric, LED lighting, 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 $129,000.
What are key features of this property?
This property features: 896‑square‑foot Unit 15 warehouse; New 28' X 32' wood‑frame building with a shared wall with Unit 14; Electric, LED lighting, natural gas, and in‑floor heat
