Building Details

Building Size 694 SF

Year Built 1980

Listing Agency: EXIT Northern Shores Realty-ER s***@sckaras.com Show Phone

Listed By: Vickie Smith Show Phone

Source: Carterassociatesrealty

Added: Aug 25 Changed: Oct 23 Last Checked: Oct 23 at 5:05PM

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Investment Insights

Based on property information with market context.

This 694-square-foot storefront has a cleared interior, step-free access, and a recently updated bathroom. The building dates to 1980, and the commercial zoning supports the stated retail or office use. A connected trailer unit is available as an optional addition for storage or extra space.

The property fronts US-131 in downtown Mancelona, between M-88 and M-66. It has 300 feet of frontage along US-131.

Key Highlights

• 694 square feet of main‑floor space
• 300 feet of frontage on US‑131, between M‑88 and M‑66
• Updated bathroom and step‑free access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,204

Cap Rate

5.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$144,080 $144.1K

Cap Rate 7%

$102,914 $102.9K

Cap Rate 9%

$80,044 $80.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 694 SF

Gross rent

$10.7K $15.48/SF

− Vacancy

−$451 −$0.65/SF

EGI

$10.3K $14.83/SF

− OpEx

−$3.1K −$4.45/SF

NOI

$7.2K $10.38/SF

Area

Antrim County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$144,080

Cap Rate 7%

$102,914

Cap Rate 9%

$80,044

Alternative Uses

Best Use

Retail

$102.9K

$90.1K – $120.1K (±1% cap)

NOI $7,204 @ 7.0% cap · market cap 5.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$123.5K

$108.1K – $144.1K (±1% cap)

NOI $8,645 @ 7.0% cap · market cap 6.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Pharmacy Big Box & Wholesale Store Real Estate Agency Auto Parts Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

198

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 49659, MI

6,670

Population

4,586

Households

1.5

Avg Household Size

44

Median Age

18%

College-Educated

89%

High-School Grad

175.0 sq mi

ZIP Area

38

Density / Sq Mi

$59,092

Median Household Income

$33,269

Median Earnings

$792

Median Rent

$141,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Medical Office with Attic Access

204 W State Street, Mancelona, MI 49659

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New Pole-Building Warehouse

S M-66 lot: 2, Mancelona, MI 49659

$164,900

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Flex Building with Crane

5240 S US-131, Mancelona, MI 49659

$214,900

2,800 SF

View details

Flex Space with Pole Barn

5315 US-131 N, Mancelona, MI 49659

$119,900

4.90 Acres

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Similar Off Market Nearby

• Bella Flowers & Designs — 558 W State St, Mancelona, MI 49659

Frequently Asked Questions

What type of property is this?

Storefront property - A cleared, step-free interior with an updated bathroom supports retail or office use.

Where is this storefront property located?

The property is located at 202 N Williams Street Mancelona, MI.

What is the asking price?

The asking price for this property is $135,000.

What are key features of this property?

This property features: 694 square feet of main‑floor space; 300 feet of frontage on US‑131, between M‑88 and M‑66; Updated bathroom and step‑free access