US 131 Flex
For Sale
$224,900
5240 S US-131, Mancelona, MI 49659
COMMERCIAL - Mancelona, MI
Property Size2,800 SF
Lot Size4.29 Acres
Price / SF$80.32
Days on Market53
Property Features for 5240 S US-131
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Exterior features
Steel
Lot features
Freestanding
Directions
5240 US 131 Mancelona Michigan
Subdivision
Antrim
Standard status
Active
Size
2,800 SF
Lot size
4.29 Acres
Taxes and HOA fees
Tax Description
BEG AT A PT ON N-S 1/4 LINE OF SEC 35; BEING S 00 DEG W 1327.39 FT OF THE N 1/4 COR OF SEC; TH S 00 DEG W 340 FT; TH N 89 DEG W 550 FT; TH N 00 DEG E 340 FT; TH S 89 DEG E 550 FT TO THE POB; SUBJECT TO HWY US 131 R/W SEC 35 T30N R6W 4.29 A M/L
Legal Description
BEG AT A PT ON N-S 1/4 LINE OF SEC 35; BEING S 00 DEG W 1327.39 FT OF THE N 1/4 COR OF SEC; TH S 00 DEG W 340 FT; TH N 89 DEG W 550 FT; TH N 00 DEG E 340 FT; TH S 89 DEG E 550 FT TO THE POB; SUBJECT TO HWY US 131 R/W SEC 35 T30N R6W 4.29 A M/L
Utilities
Water source
Private
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
The Difference Real Estate
(231) 564-2600
Listed By:
Rick Matley · License #6502418337
(231) 564-2600
Added: Jun 15
Changed: Aug 4
Last Checked: Aug 6 at 1:06AM
MLS# 1946592
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,800-square-foot flex space sits on approximately 4.29 acres and includes a 40-by-60-foot shop area with a concrete floor. The building has two 14-foot-tall doors, two offices, one bathroom, and a three-ton crane. Steel exterior construction, frame construction materials, and an asphalt roof complete the improvements.
The property provides approximately 140 feet of frontage along US 131 in Mancelona, Michigan. Water is supplied privately, supporting the existing commercial improvements.
The property provides approximately 140 feet of frontage along US 131 in Mancelona, Michigan. Water is supplied privately, supporting the existing commercial improvements.
Key Highlights
- 2,800‑square‑foot flex building on approximately 4.29 acres
- 40‑by‑60‑foot shop area with cement floor
- Two 14' tall doors, each 13' wide
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.5k | $8.04 |
| − Vacancy | −$833 | −$0.30 |
| EGI | $21.7k | $7.74 |
| − OpEx | −$3.3k | −$1.16 |
| NOI | $18.4k | $6.58 |
2,800 SF · lease $8.04/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$263.2K
$230.3K – $307.1K
NOI $18,427 @ 7.0% cap · market cap 8.19%
Second Best
Industrial
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$498.3K
$436.0K – $581.3K
NOI $34,880 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49659, MI
6,670
Population
4,586
Households
1.5
Avg Household Size
44
Median Age
18%
College-Educated
89%
High-School Grad
175.0 sq mi
ZIP Area
38
Density / Sq Mi
$59,092
Median Household Income
$33,269
Median Earnings
$792
Median Rent
$141,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame commercial facility with a substantial shop area, office space, overhead doors, and a three-ton crane.
Where is this flex space located?
The property is located at 5240 S US-131 Mancelona, MI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 2,800‑square‑foot flex building on approximately 4.29 acres; 40‑by‑60‑foot shop area with cement floor; Two 14' tall doors, each 13' wide
