4-Unit Multifamily Property with Pole
New
For Sale
$725,000
4826 Warren St, Petoskey, MI 49770
The adjoining parcels also include a trailer rental and a partially heated pole barn.
Property Size2,423 SF
Price / SF$299.22
Days on Market4
Property Features for 4826 Warren St
General Information
Standard status
Active
Size
2,423 SF
Property subtype
Multifamily
Zoning
R-1
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
5
Building Details
Building Size
2,423 SF
Listing Agency:
Graham Real Estate
Listed By:
Will Baker · License #6501367286
(231) 526-6251
Source:
Cpix.resimplifi
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 3:08PM
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.
The offering combines two adjoining parcels with a four-unit multifamily property and a trailer that serves as a fifth rental unit. The building has two 2-bedroom units and two 1-bedroom units, with a reported property size of 2,423 square feet. Improvements include a replacement boiler, a new hot water heater serving the lower levels, updated windows, and a full remodel of Unit 2. A partially heated pole barn provides additional storage or workspace.
The property is alongside a paved bike path with routes toward Petoskey, Pellston, and Mackinaw City. Crooked Lake and its public access are within a short walk. The property is zoned R-1.
The property is alongside a paved bike path with routes toward Petoskey, Pellston, and Mackinaw City. Crooked Lake and its public access are within a short walk. The property is zoned R-1.
Key Highlights
- Four‑unit building with two 2‑bedroom units and two 1‑bedroom units
- Trailer rental brings the total rental‑unit count to five
- Reported property size of 2,423 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,583
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,660
$431.7K
Cap Rate 7%
$308,329
$308.3K
Cap Rate 9%
$239,811
$239.8K
Market Conditions
NOI Build-Up for 2,423 SF
Gross rent
$32.6K $13.44/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$30.8K $12.72/SF
− OpEx
−$9.2K −$3.82/SF
NOI
$21.6K $8.91/SF
Area
Emmet County, MI
Vacancy
5.32%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,660
Cap Rate 7%
$308,329
Cap Rate 9%
$239,811
Alternative Uses
Best Use
Multifamily LT 5
$308.3K
$269.8K – $359.7K
NOI $21,583 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$273.9K
$239.7K – $319.5K
NOI $19,172 @ 7.0% cap · market cap 2.64%
Theoretical Best
Warehouse
$548.3K
$479.8K – $639.7K
NOI $38,384 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
50
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
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The adjoining parcels also include a trailer rental and a partially heated pole barn.
Where is this quadplex located?
The property is located at 4826 Warren St Petoskey, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four‑unit building with two 2‑bedroom units and two 1‑bedroom units; Trailer rental brings the total rental‑unit count to five; Reported property size of 2,423 square feet
