Flex Building with Loading
223 W North Street, Lakeview, MI 48850
For Sale
$429,900
Commercial Sale, Lakeview, MI
Property Size4,840 SF
Lot Size2.50 Acres
Price / SF$88.82
Days on Market282
Property Features for 223 W North Street
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Parking
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Cooling system
Amenities
loading dock
overhead doors
air conditioning
forced air furnace
3 phase electric
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
Your Team Realty
(989) 352-5511
Listed By:
Marcia A Myers · License MI #6502324643
(989) 493-0643
Added: Feb 2
Changed: Oct 30
Last Checked: Nov 10 at 7:06AM
MLS# 26004636
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,840-square-foot flex property sits on 2.5 acres and includes a separate office area with air conditioning and a forced-air furnace. The building also has two bathrooms, a loading dock, overhead doors, three-phase electric service, and a rubber roof replaced within the last few years. Aluminum siding and radiant heating are also present.
Located in Lakeview, Michigan, the property is less than one mile from M46 highway. The site includes additional land for expansion, while phone service is available. Wall-unit cooling supplements the building’s heating systems.
Located in Lakeview, Michigan, the property is less than one mile from M46 highway. The site includes additional land for expansion, while phone service is available. Wall-unit cooling supplements the building’s heating systems.
Key Highlights
- 4,840 square feet on 2.5 acres
- Three‑phase electric service
- Loading dock and overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,349
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,980
$727.0K
Cap Rate 7%
$519,271
$519.3K
Cap Rate 9%
$403,878
$403.9K
Market Conditions
NOI Build-Up for 4,840 SF
Gross rent
$45.9K $9.48/SF
− Vacancy
−$3.1K −$0.64/SF
EGI
$42.8K $8.84/SF
− OpEx
−$6.4K −$1.33/SF
NOI
$36.3K $7.51/SF
Area
Calhoun County, MI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,980
Cap Rate 7%
$519,271
Cap Rate 9%
$403,878
Alternative Uses
Best Use
Flex RnD
$936.9K
$819.8K – $1.09M
NOI $65,586 @ 7.0% cap · market cap 15.26%
Second Best
Warehouse
$519.3K
$454.4K – $605.8K
NOI $36,349 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,293 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 48850, MI
4,563
Population
1,973
Households
2.3
Avg Household Size
41
Median Age
14%
College-Educated
88%
High-School Grad
83.2 sq mi
ZIP Area
55
Density / Sq Mi
$65,064
Median Household Income
$41,473
Median Earnings
$665
Median Rent
$170,700
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Calhoun County, MI
Properties on Market for Flex space in Calhoun County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The site includes dedicated office space, overhead doors, three-phase power, and room for future expansion.
Where is this flex space located?
The property is located at 223 W North Street Lakeview, MI.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 4,840 square feet on 2.5 acres; Three‑phase electric service; Loading dock and overhead doors
