Building Details

Building Size 800 SF

Year Built 1952

Listing Agency: CENTRAL REAL ESTATE MT PLEASANT, INC. Show Phone

Listed By: Dave Zamarron · License #6502102202 Show Phone

Source: Centralmirealty

Added: Jul 1 Changed: Nov 4 Last Checked: Nov 4 at 2:37PM

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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 CENTRAL REAL ESTATE MT PLEASANT, INC.

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use property at 309 W Main Street in Kingsley has a building constructed in 1952 and commercial zoning. The existing structure is presented for potential business, live-work, or investment use; no specific interior layout is provided.

The site has 75 feet of frontage on M-113, which carries average daily traffic of more than 6,600 vehicles. Kingsley Creek and Kingsley Veterans Park border the rear of the property, and Kingsley Community Schools are one block away. The property is within the Kingsley Downtown Development Authority and is 20 minutes from Traverse City.

Key Highlights

• 75 feet of frontage on M‑113
• M‑113 averages more than 6,600 vehicles per day
• Borders Kingsley Creek and Kingsley Veterans Park at the rear

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,568

Cap Rate

3.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$171,360 $171.4K

Cap Rate 7%

$122,400 $122.4K

Cap Rate 9%

$95,200 $95.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 800 SF

Gross rent

$13.4K $16.80/SF

− Vacancy

−$2.0K −$2.52/SF

EGI

$11.4K $14.28/SF

− OpEx

−$2.9K −$3.57/SF

NOI

$8.6K $10.71/SF

Area

Grand Traverse County, MI

Vacancy

15.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$171,360

Cap Rate 7%

$122,400

Cap Rate 9%

$95,200

Alternative Uses

Best Use

Office B

$122.4K

$107.1K – $142.8K (±1% cap)

NOI $8,568 @ 7.0% cap · market cap 3.99%

Second Best

Mixed Use

$97.5K

$85.3K – $113.8K (±1% cap)

NOI $6,825 @ 7.0% cap · market cap 3.18%

Theoretical Best

Office A

$173.8K

$152.1K – $202.8K (±1% cap)

NOI $12,165 @ 7.0% cap · market cap 5.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Paradise Tattoo Studio Tattoo & Piercing Shop

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Law Firm Building Supply Electrical Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

134

Businesses Nearby

Explore this area Business Placement

Demographics for 49649, MI

6,919

Population

2,639

Households

2.6

Avg Household Size

38

Median Age

24%

College-Educated

93%

High-School Grad

110.5 sq mi

ZIP Area

63

Density / Sq Mi

$73,021

Median Household Income

$37,001

Median Earnings

$1,041

Median Rent

$246,900

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial zoning and placement within the Kingsley Downtown Development Authority support a range of business and live-work configurations.

Where is this mixed-use property located?

The property is located at 309 W Main Street Kingsley, MI.

What is the asking price?

The asking price for this property is $214,900.

What are key features of this property?

This property features: 75 feet of frontage on M‑113; M‑113 averages more than 6,600 vehicles per day; Borders Kingsley Creek and Kingsley Veterans Park at the rear