Flex Warehouse with 18
For Sale
$329,000
13715 Clark Road Unit 11, Charlevoix, MI 49720
New 40’ x 80’ pole barn flex warehouse planned with in-floor heat and two 18’ electronic overhead doors.
Property Size3,200 SF
Price / SF$102.81
Days on Market775
Property Features for 13715 Clark Road Unit 11
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
2
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
Listed By:
Matthew Murray
(231) 439-2000
Source:
Harborsir
Added: Jul 22, 2024
Changed: Sep 4
Last Checked: Sep 4 at 9:59AM
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
Investment Insights
Based on property information with market context.
Unit 11 is a new pole barn flex warehouse to be built at 40’ x 80’ with a 20’ tall structure. The space will be delivered with electric service, LED lighting, in-floor heat, and full metal interior walls. The building will also feature two large 18’ high electronic overhead doors, providing straightforward drive-in access for loading and unloading.
The property is part of a new association with a paved drive, an electronic gate, and a security fence. Community water is included, and the seller notes that certain building changes or upgrades may be possible by buyer request.
For convenience, the offering is described as being close to town and the city launch ramp. Seller financing is also listed as available.
The property is part of a new association with a paved drive, an electronic gate, and a security fence. Community water is included, and the seller notes that certain building changes or upgrades may be possible by buyer request.
For convenience, the offering is described as being close to town and the city launch ramp. Seller financing is also listed as available.
Key Highlights
- Unit 11 new pole barn flex warehouse planned at 40' x 80' with 20' tall clearance
- Planned in‑floor heat with electric and LED lighting
- Includes two 18' electronic overhead doors
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
$24,382
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
7.41%
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%
$487,640
$487.6K
Cap Rate 7%
$348,314
$348.3K
Cap Rate 9%
$270,911
$270.9K
Market Conditions
NOI Build-Up for 3,200 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
$31.9K $9.96/SF
− Vacancy
−$3.2K −$1.00/SF
EGI
$28.7K $8.96/SF
− OpEx
−$4.3K −$1.34/SF
NOI
$24.4K $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%
$487,640
Cap Rate 7%
$348,314
Cap Rate 9%
$270,911
Alternative Uses
Best Use
Flex RnD
$437.2K
$382.6K – $510.1K
NOI $30,607 @ 7.0% cap · market cap 9.30%
Second Best
Warehouse
$348.3K
$304.8K – $406.4K
NOI $24,382 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$647.8K
$566.8K – $755.7K
NOI $45,343 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
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
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Frequently Asked Questions
What type of property is this?
Flex space - New 40’ x 80’ pole barn flex warehouse planned with in-floor heat and two 18’ electronic overhead doors.
Where is this flex space located?
The property is located at 13715 Clark Road Unit 11 Charlevoix, MI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Unit 11 new pole barn flex warehouse planned at 40' x 80' with 20' tall clearance; Planned in‑floor heat with electric and LED lighting; Includes two 18' electronic overhead doors
