Commercial Land with Three-Road
For Sale
$795,000
1518 & 1520 Bridge Street, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size2,900 SF
Lot Size1.50 Acres
Price / SF$274.14
Days on Market280
Property Features for 1518 & 1520 Bridge Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
Corner of US31 & Marion center. US31 south from downtown.
Subdivision
Charlevoix City
Standard status
Active
APN
052-234-034-25, 034-40 ++
Size
2,900 SF
Lot size
1.50 Acres
Taxes and HOA fees
Tax Description
3 Lengthy Legal, see assoc docs.
Legal Description
3 Lengthy Legal, see assoc docs.
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Building Details
Building materials
Wood Frame
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed By:
Richard Lobenherz · License #6506029940
(231) 675-6285
Added: Dec 30, 2025
Changed: Aug 19
Last Checked: Oct 6 at 1:06AM
MLS# 473551
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.
This commercial land offering combines three parcels totaling approximately 1.5 acres at 1518 & 1520 Bridge Street. The property includes a residential home and is currently leased to a security company. Wood-frame construction, natural gas heating, and cable availability are also identified among the existing property features.
The site sits directly across from the airport entrance and has frontage on three roads. US-31 and Marion Center are identified as Class A roads with a high combined traffic count, providing an established transportation setting for the property. Commercial zoning applies to the site.
The site sits directly across from the airport entrance and has frontage on three roads. US-31 and Marion Center are identified as Class A roads with a high combined traffic count, providing an established transportation setting for the property. Commercial zoning applies to the site.
Key Highlights
- Approximately 1.5 acres across 3 combined parcels
- Frontage on 3 roads directly across from the airport entrance
- Commercial zoning with an existing residential home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,501
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,020
$570.0K
Cap Rate 7%
$407,157
$407.2K
Cap Rate 9%
$316,678
$316.7K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$48.7K $16.80/SF
− Vacancy
−$10.7K −$3.70/SF
EGI
$38.0K $13.10/SF
− OpEx
−$9.5K −$3.28/SF
NOI
$28.5K $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%
$570,020
Cap Rate 7%
$407,157
Cap Rate 9%
$316,678
Alternative Uses
Best Use
Office B
$407.2K
$356.3K – $475.0K
NOI $28,501 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.0K
$513.7K – $684.9K
NOI $41,092 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Commercial land - Three parcels include an existing residence and current occupancy by a security company.
Where is this commercial land located?
The property is located at 1518 & 1520 Bridge Street Charlevoix, MI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Approximately 1.5 acres across 3 combined parcels; Frontage on 3 roads directly across from the airport entrance; Commercial zoning with an existing residential home
