New Pole Barn Flex
For Sale
$129,000
13715 Clark Road Unit 15, Charlevoix, MI 49720
New flex unit 15 is under construction with in-floor heat, LED lighting, and an electronic overhead door.
Property Size896 SF
Price / SF$143.97
Days on Market286
Property Features for 13715 Clark Road Unit 15
General Information
Standard status
Active
Size
896 SF
Property subtype
Land
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Amenities
paved drive
electronic gate
security fence
community water
Building Details
Construction
pole barn
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
Listed By:
Matthew Murray
(231) 526-9889
Source:
Harborsir
Added: Nov 8, 2025
Changed: Aug 20
Last Checked: Aug 20 at 8:51AM
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 15 is a new pole barn-style flex building to be built with a shared wall with unit 14. The planned improvements include electric service, LED lighting, in-floor heat, full metal interior walls, and an electronic overhead door.
The association is planned to include a paved drive, electronic gate, security fence, and community water. The property is described as being close to town and the city launch ramp.
Completion is targeted before fall of 2026, with certain building changes or upgrades available by buyer request. Seller financing is also available.
The association is planned to include a paved drive, electronic gate, security fence, and community water. The property is described as being close to town and the city launch ramp.
Completion is targeted before fall of 2026, with certain building changes or upgrades available by buyer request. Seller financing is also available.
Key Highlights
- Unit 15 new flex building under construction with in‑floor heat
- 28' x 32' pole barn design with a shared wall with Unit 14
- Includes electric, LED lighting, and an electronic overhead door
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
$8,570
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
6.64%
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%
$171,400
$171.4K
Cap Rate 7%
$122,429
$122.4K
Cap Rate 9%
$95,222
$95.2K
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
$14.3K $15.96/SF
− Vacancy
−$1.1K −$1.24/SF
EGI
$13.2K $14.72/SF
− OpEx
−$4.6K −$5.15/SF
NOI
$8.6K $9.56/SF
Area
Charlevoix County, MI
Vacancy
7.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$171,400
Cap Rate 7%
$122,429
Cap Rate 9%
$95,222
Alternative Uses
Best Use
Flex RnD
$122.4K
$107.1K – $142.8K
NOI $8,570 @ 7.0% cap · market cap 6.64%
Second Best
Industrial
$71.0K
$62.1K – $82.8K
NOI $4,967 @ 7.0% cap · market cap 3.85%
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.
Frequently Asked Questions
What type of property is this?
Flex space - New flex unit 15 is under construction with in-floor heat, LED lighting, and an electronic overhead door.
Where is this flex space located?
The property is located at 13715 Clark Road Unit 15 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: Unit 15 new flex building under construction with in‑floor heat; 28' x 32' pole barn design with a shared wall with Unit 14; Includes electric, LED lighting, and an electronic overhead door
