Flex Space with Covered
For Sale
$2,100,000
3765 & 3769 S US 31 Highway, Brutus, MI 49716
Commercial/Industrial, Brutus, MI
Property Size10,800 SF
Lot Size24.00 Acres
Price / SF$194.44
Days on Market137
Property Features for 3765 & 3769 S US 31 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
FF-1 & B-2
Elementary school district
Pellston
Middle school district
Pellston
High school district
Pellston
Directions
US 31 north to Brutus. Just north of Brutus road look for sign on East side of road. Follow drive back to building.
Subdivision
Maple River
Standard status
Active
APN
09-14-22-400-011 ans 022
Size
10,800 SF
Lot size
24.00 Acres
Taxes and HOA fees
Tax Description
Tax ID # 09-14-22-400-011 and 09-14-22-400-022
Legal Description
Tax ID # 09-14-22-400-011 and 09-14-22-400-022
Utilities
Heating system
Electric (Heating)
Water source
Well
Building Details
Year built
2022
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
Graham Real Estate
(231) 526-6251
Listed By:
Kevin Olson
(231) 881-7303
Added: Jun 18
Changed: Oct 8
Last Checked: Nov 1 at 5:06AM
MLS# 479501
Copyright © 2026 Northern Michigan MLS. 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.
Built in 2022, this 10,800-square-foot steel-frame flex facility includes two offices, a restroom, and 1,200 square feet of covered storage along the rear of the building. The property has a metal roof, electric heating, 480-volt three-phase power, and an artesian well with recently updated pumps and mechanical components.
The approximately 24-acre property consists of two separately zoned parcels. The front 15 acres carry B-2 zoning, while the rear 9 acres are zoned FF-1. The site is located at 3765 & 3769 S US 31 Highway in Brutus, Michigan, and includes well-sourced water service.
The approximately 24-acre property consists of two separately zoned parcels. The front 15 acres carry B-2 zoning, while the rear 9 acres are zoned FF-1. The site is located at 3765 & 3769 S US 31 Highway in Brutus, Michigan, and includes well-sourced water service.
Key Highlights
- 10,800‑square‑foot building constructed in 2022
- Approximately 24 acres across two separately zoned parcels
- Front 15 acres zoned B‑2; rear 9 acres zoned FF‑1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,089
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,421,780
$3.4M
Cap Rate 7%
$2,444,129
$2.4M
Cap Rate 9%
$1,900,989
$1.9M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$216.4K $20.04/SF
− Vacancy
−$15.2K −$1.40/SF
EGI
$201.3K $18.64/SF
− OpEx
−$30.2K −$2.80/SF
NOI
$171.1K $15.84/SF
Area
Emmet County, MI
Vacancy
7.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,421,780
Cap Rate 7%
$2,444,129
Cap Rate 9%
$1,900,989
Alternative Uses
Best Use
Warehouse
$2.44M
$2.14M – $2.85M
NOI $171,089 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$2.01M
$1.76M – $2.35M
NOI $140,897 @ 7.0% cap · market cap 6.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49716, MI
775
Population
639
Households
1.2
Avg Household Size
55
Median Age
32%
College-Educated
95%
High-School Grad
22.9 sq mi
ZIP Area
34
Density / Sq Mi
$82,438
Median Household Income
$30,250
Median Earnings
$252,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame commercial facility with office space, restroom, covered storage, dual zoning, and three-phase electrical service.
Where is this flex space located?
The property is located at 3765 & 3769 S US 31 Highway Brutus, MI.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 10,800‑square‑foot building constructed in 2022; Approximately 24 acres across two separately zoned parcels; Front 15 acres zoned B‑2; rear 9 acres zoned FF‑1
