Downtown Office Suite with
For Sale
$1,595,000
201 State Street, Charlevoix, MI 49720
Corner office suite with private conference room and break room, plus storage and onsite parking.
Property Size14,937 SF
Price / SF$106.78
Days on Market435
Property Features for 201 State Street
General Information
Standard status
Active
Size
14,937 SF
Property subtype
Commercial
Amenities
private conference room
break room
storage space
onsite parking
handicap accessible
elevator
24 hour access
utilities included
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
Listed By:
A. Mitts Lee
(231) 675-1977
Source:
Harborsir
Added: Aug 13, 2025
Changed: Oct 21
Last Checked: Oct 20 at 10:56PM
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
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Investment Insights
Based on property information with market context.
Available for sale, this larger corner office suite is offered with a private conference room and break room use. The space also includes storage, and the building features handicap accessibility with an elevator.
Located in the heart of Downtown Charlevoix, the property is about half a block from the courthouse and the marina. Renters have 24-hour access.
The suite includes all utilities except phone and cable, supporting straightforward day-to-day operations for professional office uses.
Located in the heart of Downtown Charlevoix, the property is about half a block from the courthouse and the marina. Renters have 24-hour access.
The suite includes all utilities except phone and cable, supporting straightforward day-to-day operations for professional office uses.
Key Highlights
- Downtown Charlevoix corner office suite with a private conference room and break room
- Includes storage space and onsite parking
- Handicap accessible with elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,801
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,936,020
$2.9M
Cap Rate 7%
$2,097,157
$2.1M
Cap Rate 9%
$1,631,122
$1.6M
Market Conditions
NOI Build-Up for 14,937 SF
Gross rent
$250.9K $16.80/SF
− Vacancy
−$55.2K −$3.70/SF
EGI
$195.7K $13.10/SF
− OpEx
−$48.9K −$3.28/SF
NOI
$146.8K $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%
$2,936,020
Cap Rate 7%
$2,097,157
Cap Rate 9%
$1,631,122
Alternative Uses
Best Use
Office B
$2.10M
$1.84M – $2.45M
NOI $146,801 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.65M – $3.53M
NOI $211,651 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
505
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Corner office suite with private conference room and break room, plus storage and onsite parking.
Where is this office unit located?
The property is located at 201 State Street Charlevoix, MI.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Downtown Charlevoix corner office suite with a private conference room and break room; Includes storage space and onsite parking; Handicap accessible with elevator
