Self-Storage Facility with Cold
New
For Sale
$129,000
2405 N Us 31, Petoskey, MI 49770
Each unit has a tall overhead door, a separate electric meter, and access to an on-site well.
Property Size800 SF
Price / SF$161.25
Days on Market4
Property Features for 2405 N Us 31
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Zoning
B-2
Additional Details
Cold Storage
Yes
Property Use
Self Storage
Building Details
Building Size
800 SF
Year Built
2024
Units
1
Listing Agency:
Real Estate One
Listed By:
Douglas Nowels
(231) 838-2007
Source:
Jackvantreese
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 24 at 2:49PM
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 Real Estate One
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Investment Insights
Based on property information with market context.
Built in 2024, this self-storage facility offers cold storage units measuring 20 by 40 feet, or 800 square feet each. Units feature tall overhead doors and individual electric meters, with a well on site. The property is zoned B-2.
The facility is north of Petoskey on N US 31, across from Hearthside Grove Motor Coach Resort.
The facility is north of Petoskey on N US 31, across from Hearthside Grove Motor Coach Resort.
Key Highlights
- 20‑by‑40‑foot units provide 800 square feet each
- Cold storage units with tall overhead doors
- Individual electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,437
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,740
$208.7K
Cap Rate 7%
$149,100
$149.1K
Cap Rate 9%
$115,967
$116.0K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$16.0K $20.04/SF
− Vacancy
−$1.1K −$1.40/SF
EGI
$14.9K $18.64/SF
− OpEx
−$4.5K −$5.59/SF
NOI
$10.4K $13.05/SF
Area
Emmet County, MI
Vacancy
7.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,740
Cap Rate 7%
$149,100
Cap Rate 9%
$115,967
Alternative Uses
Best Use
Warehouse
$181.0K
$158.4K – $211.2K
NOI $12,673 @ 7.0% cap · market cap 9.82%
Second Best
Self Storage
$149.1K
$130.5K – $174.0K
NOI $10,437 @ 7.0% cap · market cap 8.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
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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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Each unit has a tall overhead door, a separate electric meter, and access to an on-site well.
Where is this self storage facility located?
The property is located at 2405 N Us 31 Petoskey, MI.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: 20‑by‑40‑foot units provide 800 square feet each; Cold storage units with tall overhead doors; Individual electric meters for each unit
