Medical Office Suite with
For Sale
$219,000
2780 Charlevoix Ave, Petoskey, MI 49770
Office suite includes a reception area, three private offices, kitchenette, and two baths, previously used as a doctor’s office.
Property Size1,000 SF
Price / SF$219
Days on Market194
Property Features for 2780 Charlevoix Ave
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Zoning
RT PUD-2
Building Details
Building Size
1,000 SF
Listing Agency:
Graham Real Estate
Listed By:
Slava Mykhayls
(231) 526-6251
Source:
Cpix.resimplifi
Added: Apr 10
Changed: Oct 9
Last Checked: Oct 19 at 3:29AM
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 Graham Real Estate
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Investment Insights
Based on property information with market context.
This office suite is set up with a reception area, three private offices, a kitchenette, and two bathrooms. The space was previously used as a doctor’s office, and the seller—who is a licensed builder—indicates that moving walls for a redesign is not a problem.
The property is for sale and is described as easy to show. An option to rent is also noted at $950 per month.
Inside, the layout supports a professional office workflow with dedicated waiting/reception space and multiple private rooms, along with the convenience of a kitchenette and two restrooms.
The property is for sale and is described as easy to show. An option to rent is also noted at $950 per month.
Inside, the layout supports a professional office workflow with dedicated waiting/reception space and multiple private rooms, along with the convenience of a kitchenette and two restrooms.
Key Highlights
- Just lowered $30,000
- Office suite with reception area plus three private offices
- Includes kitchenette and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,973
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,460
$239.5K
Cap Rate 7%
$171,043
$171.0K
Cap Rate 9%
$133,033
$133.0K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$19.0K $18.96/SF
− Vacancy
−$3.0K −$3.00/SF
EGI
$16.0K $15.96/SF
− OpEx
−$4.0K −$3.99/SF
NOI
$12.0K $11.97/SF
Area
Emmet County, MI
Vacancy
15.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,460
Cap Rate 7%
$171,043
Cap Rate 9%
$133,033
Alternative Uses
Best Use
Office B
$171.0K
$149.7K – $199.6K
NOI $11,973 @ 7.0% cap · market cap 5.47%
Second Best
Healthcare Medical
$113.1K
$99.0K – $132.0K
NOI $7,919 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$226.3K
$198.0K – $264.0K
NOI $15,842 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office suite includes a reception area, three private offices, kitchenette, and two baths, previously used as a doctor’s office.
Where is this office unit located?
The property is located at 2780 Charlevoix Ave Petoskey, MI.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Just lowered $30,000; Office suite with reception area plus three private offices; Includes kitchenette and two bathrooms
