Flex Space with
For Sale
Contact for pricing
2356 N US 31, Petoskey, MI 49770
Office, workshop, and outdoor storage areas create a versatile commercial property along a central Petoskey corridor.
Property Size3,027 SF
Lot Size0.86 Acres
Days on Market54
Property Features for 2356 N US 31
General Information
Standard status
Active
Size
3,027 SF
Lot size
0.86 Acres
Property subtype
Industrial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
2,021 SF
Office Build-Out
1,006 SF
Building Details
Building Size
3,027 SF
Listing Agency:
Mint, LLC
Listed By:
Craig Rose
(231) 838-4224
Source:
Patobrien
Added: Aug 24
Changed: Oct 1
Last Checked: Oct 15 at 5:51AM
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 Mint, LLC
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Investment Insights
Based on property information with market context.
This flex space combines 1,006 square feet of office area with a 2,021-square-foot garage and workshop component. The property also includes outdoor areas for storage and display, providing additional functional space beyond the building. A complete refresh is underway to update the premises for commercial occupancy.
Located at 2356 N US 31 in Petoskey, the property offers 150 feet of frontage and extends 250 feet in depth. Its configuration supports businesses needing a combination of office, work, storage, and display areas. The source information also identifies flexible zoning, although no specific zoning designation is provided.
Located at 2356 N US 31 in Petoskey, the property offers 150 feet of frontage and extends 250 feet in depth. Its configuration supports businesses needing a combination of office, work, storage, and display areas. The source information also identifies flexible zoning, although no specific zoning designation is provided.
Key Highlights
- 1,006 SF of office space
- 2,021 SF garage and workshop area
- 150' frontage X 250' deep
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,194
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,880
$443.9K
Cap Rate 7%
$317,057
$317.1K
Cap Rate 9%
$246,600
$246.6K
Market Conditions
NOI Build-Up for 3,027 SF
Gross rent
$36.3K $12.00/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$34.1K $11.28/SF
− OpEx
−$12.0K −$3.95/SF
NOI
$22.2K $7.33/SF
Area
Emmet County, MI
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,880
Cap Rate 7%
$317,057
Cap Rate 9%
$246,600
Alternative Uses
Best Use
Industrial
$564.1K
$493.6K – $658.2K
NOI $39,490 @ 7.0% cap · market cap 658.17%
Second Best
Office B
$517.8K
$453.0K – $604.1K
NOI $36,243 @ 7.0% cap · market cap 604.05%
Theoretical Best
Warehouse
$685.0K
$599.4K – $799.2K
NOI $47,953 @ 7.0% cap · market cap 799.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49770, MI
17,643
Population
10,244
Households
1.7
Avg Household Size
44
Median Age
47%
College-Educated
97%
High-School Grad
109.4 sq mi
ZIP Area
161
Density / Sq Mi
$80,431
Median Household Income
$42,154
Median Earnings
$1,077
Median Rent
$309,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office, workshop, and outdoor storage areas create a versatile commercial property along a central Petoskey corridor.
Where is this flex space located?
The property is located at 2356 N US 31 Petoskey, MI.
What are key features of this property?
This property features: 1,006 SF of office space; 2,021 SF garage and workshop area; 150' frontage X 250' deep
