Fully Leased Mixed-Use Commercial
For Sale
$1,595,000
201 State Street, Charlevoix, MI 49720
Fully leased mixed-use building featuring three tenants, including a Huntington Bank branch and a Chamber-operated co-working space.
Property Size14,937 SF
Price / SF$106.78
Days on Market271
Property Features for 201 State Street
General Information
Standard status
Active
Size
14,937 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
Listed By:
A. Mitts Lee
(231) 439-2000
Source:
Harborsir
Added: Nov 8, 2025
Changed: Jul 27
Last Checked: Aug 5 at 4:32AM
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.
This fully leased, mixed-use commercial building at 201 State Street totals 14,937 SF and is currently occupied by three established tenants. The tenant mix includes a long-standing law firm, The Vault co-working space operated by the Charlevoix Chamber of Commerce, and a high-visibility Huntington Bank branch.
The property is positioned in Charlevoix’s civic and commercial core, with walkable access to Bridge Street and the Downtown Marina (one block away) and Lake Michigan Beach (two blocks away).
The property is positioned in Charlevoix’s civic and commercial core, with walkable access to Bridge Street and the Downtown Marina (one block away) and Lake Michigan Beach (two blocks away).
Key Highlights
- Fully leased mixed‑use commercial building at 201 State Street with 14,937 SF
- Tenant mix includes a Huntington Bank branch plus a long‑standing law firm and The Vault co‑working space
- Co‑working space is operated by the Charlevoix Chamber of Commerce
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $250.9k | $16.80 |
| − Vacancy | −$55.2k | −$3.70 |
| EGI | $195.7k | $13.10 |
| − OpEx | −$48.9k | −$3.28 |
| NOI | $146.8k | $9.83 |
14,937 SF · lease $16.80/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Retail
$2.67M
$2.33M – $3.11M
NOI $186,701 @ 7.0% cap · market cap 11.71%
Second Best
Specialty Retail
$2.56M
$2.24M – $2.98M
NOI $179,059 @ 7.0% cap · market cap 11.23%
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.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Coworking space - Fully leased mixed-use building featuring three tenants, including a Huntington Bank branch and a Chamber-operated co-working space.
Where is this coworking space 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: Fully leased mixed‑use commercial building at 201 State Street with 14,937 SF; Tenant mix includes a Huntington Bank branch plus a long‑standing law firm and The Vault co‑working space; Co‑working space is operated by the Charlevoix Chamber of Commerce
