Mixed-Use
For Sale
Contact for pricing
3890 CHARLEVOIX RD, Petoskey, MI 49770
Commercial property constructed in 2000 with substantial building area for a mixed-use operation.
Property Size40,000 SF
Price / SF$180
Days on Market57
Property Features for 3890 CHARLEVOIX RD
General Information
Standard status
Active
Size
40,000 SF
Property subtype
Retail, Office, Mixed Use
Occupancy
95%
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Built
2000
Units
20
Tenancy
Multi
Listing Agency:
Atesian Properties
Listed By:
Ara Atesian · License #6501311915
Source:
Crexi
Added: Aug 26
Changed: Oct 15
Last Checked: Oct 20 at 8:01PM
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 Atesian Properties
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Investment Insights
Based on property information with market context.
This mixed-use property at 3890 Charlevoix Road in Petoskey, Michigan, includes approximately 40,000 square feet of building area. Constructed in 2000, the asset is identified for general commercial use and offers a substantial physical footprint for its intended mixed-use classification.
Key Highlights
- Approximately 40,000 square feet of building area
- Constructed in 2000
- Located at 3890 Charlevoix Road, Petoskey, MI 49770‑8422
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$465,930
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,318,600
$9.3M
Cap Rate 7%
$6,656,143
$6.7M
Cap Rate 9%
$5,177,000
$5.2M
Market Conditions
NOI Build-Up for 40,000 SF
Gross rent
$801.6K $20.04/SF
− Vacancy
−$56.1K −$1.40/SF
EGI
$745.5K $18.64/SF
− OpEx
−$279.6K −$6.99/SF
NOI
$465.9K $11.65/SF
Area
Emmet County, MI
Vacancy
7.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,318,600
Cap Rate 7%
$6,656,143
Cap Rate 9%
$5,177,000
Alternative Uses
Best Use
Mixed Use
$6.66M
$5.82M – $7.77M
NOI $465,930 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.05M
$7.92M – $10.56M
NOI $633,665 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
218
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property constructed in 2000 with substantial building area for a mixed-use operation.
Where is this mixed-use property located?
The property is located at 3890 CHARLEVOIX RD Petoskey, MI.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: Approximately 40,000 square feet of building area; Constructed in 2000; Located at 3890 Charlevoix Road, Petoskey, MI 49770‑8422
