Waterfront Industrial
222 Industrial Park Drive Unit SourceFi Elk Rapids, MI 49629
222 Industrial Park Drive Unit SourceFi, Elk Rapids, MI, 49629
$1,250,000
For Sale
$1,250,000
Impeccably maintained 2000-built industrial facility with heavy power, supporting manufacturing, storage, and office use.
Property Size18,483 SF
Price / SF$67.63
Days on Market262
Property Features for 222 Industrial Park Drive Unit SourceFi
General Information
- Standard status
- Active
- Size
- 18,483 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2000
Listing agency
Three West, LLC
(231) 534-5225
Listed by
Kevin Endres · License #6505352968
(231) 534-5225
Source
Xome
Added: Nov 2, 2025 Updated: Jul 19 at 2:17AM Checked: Jul 21 at 2:58AM
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 Three West, LLC
Investment Insights
Based on property information with market context.
Introducing 222 Industrial Park, an 18,483-square-foot industrial building constructed in 2000 and described as impeccably maintained. The facility is currently set up for manufacturing and is intended to support industrial operations with ample space for production, storage, and office needs, along with heavy power.
The property is located in Elk Rapids, Michigan and offers direct waterfrontage on Bass Lake, providing an additional physical asset for an industrial user.
As presented, the building is equipped to support diverse industrial/manufacturing users, with modern construction and favorable zoning noted in the offering.
The property is located in Elk Rapids, Michigan and offers direct waterfrontage on Bass Lake, providing an additional physical asset for an industrial user.
As presented, the building is equipped to support diverse industrial/manufacturing users, with modern construction and favorable zoning noted in the offering.
Key Highlights
- 18,483 SF industrial building constructed in 2000
- Direct waterfrontage on Bass Lake
- Heavy power available for manufacturing/industrial operations
Local Financial Insights For Industrial
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 | $148.6k | $8.04 |
| − Vacancy | −$5.5k | −$0.30 |
| EGI | $143.1k | $7.74 |
| − OpEx | −$42.9k | −$2.32 |
| NOI | $100.2k | $5.42 |
18,483 SF · lease $8.04/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,639 @ 7.0% cap · market cap 9.73%
Second Best
Industrial
$1.43M
$1.25M – $1.67M
NOI $100,173 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,246 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Trelleborg
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Manufacturing property - Impeccably maintained 2000-built industrial facility with heavy power, supporting manufacturing, storage, and office use.
Where is this manufacturing property located?
The property is located at 222 Industrial Park Drive Unit SourceFi Elk Rapids, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 18,483 SF industrial building constructed in 2000; Direct waterfrontage on Bass Lake; Heavy power available for manufacturing/industrial operations
