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    Commercial Property with Extensive Equipment Title is generated by Realmo AI

    21220 Creamery Road, Chassell, MI 49916

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    For Sale
    $725,000

    COMMERCIAL - Chassell, MI

    Property size:
    2,672 SF
    Lot size:
    3.56 Acres
    Price / SF:
    $271/SF
    Added:
    May 19, 2026
    Days on Market:
    4
    Last Refresh:
    May 22 at 4:06 am

    Property Features for 21220 Creamery Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,672 SF
    Lot size
    3.56 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3566

    Utilities

    Heating system
    Forced Air
    Water source
    Well

    Building Details

    Year built
    1989
    Roof type
    Shingle, Metal
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    KEVIN LIIMATTA

    Listing agent KEVIN LIIMATTA License #UPAR

    Listing office STATE WIDE OF HOUGHTON 500 SHELDON AVE, HOUGHTON, MI

    Listing date May 19, 2026

    MLS# 50208133

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3. 56 acres of commercially zoned land in a rural setting
    • Sale includes real property and extensive business assets
    • Main woodshop: 36x60 with 16x32 office addition
    • Pole building warehouse: 32x44 clear span with large sliding barn doors and electric
    • Includes multiple storage buildings: 24x70 lean‑to shed and semi‑trailer
    • Main building has upgraded LED lighting and security system

    Overview

    This commercial property, situated on 3.56 acres in a rural setting, is zoned commercial improved. It includes a main building with a 36x60 woodshop and a 16x32 office addition, along with a 10x34 wood shed at the back. The property also features a 32x44 clear span pole building warehouse with large sliding barn doors and electric, as well as a 24x70 lean-to shed with a high roof and open front. An older semi-trailer provides additional storage space. The main office and woodshop are heated with wood, using approximately 5 cords per winter, with a propane furnace for backup. Recent upgrades include LED lighting in the main building. The property includes a security system. The sale encompasses the real property and assets of a local home builder, including the land, main building, office, woodshop, pole barn workshop, storage shed, extra storage trailers, 3 late model pickups, a tractor with loader, many enclosed & open trailers, a dozen ladders, generators, air compressors, scaffolding and planks, woodshop equipment, and hand tools. The property offers a total of 2,672 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chassell Carpentry & Woodwork Construction Company

    Suggested Use

    Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chassell
    County
    Houghton
    State
    Michigan
    Longitude
    -88.547662
    Latitude
    47.011554

    FAQs

    What type of property is this?
    Warehouse - Commercial property on 3.56 acres with buildings and equipment.
    Where is this warehouse located?
    The property is located at 21220 Creamery Road Chassell, MI.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 3. 56 acres of commercially zoned land in a rural setting; Sale includes real property and extensive business assets; Main woodshop: 36x60 with 16x32 office addition
    (906) 370-4440
    We can help!
    Listing Contact
    KEVIN LIIMATTA
    Real Estate License ID: UPAR
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    21220 Creamery Road, Chassell, MI 49916
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