Flex Space with
For Sale
$214,900
5240 S Us-131, Mancelona, MI 49659
A commercial flex property pairs a shop area with two offices and a bathroom on a multi-acre site.
Property Size2,800 SF
Lot Size4.29 Acres
Price / SF$76.75
Days on Market140
Property Features for 5240 S Us-131
General Information
Standard status
Active
Size
2,800 SF
Lot size
4.29 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,800 SF
Year Built
2000
Listing Agency:
The Difference Real Estate
Listed By:
Rick Matley · License #6502418337
(231) 564-2600
Source:
Carterassociatesrealty
Added: Jun 15
Changed: Oct 29
Last Checked: Oct 29 at 7:30PM
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 The Difference Real Estate
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Investment Insights
Based on property information with market context.
Built in 2000, this 2,800-square-foot flex property includes a 40-by-60-foot shop area, two offices, and one bathroom. The shop has a cement floor, two doors measuring 14 feet high by 13 feet wide, and a 3-ton crane.
The 4.29-acre property has approximately 140 feet of frontage on US 131 and is zoned Commercial.
The 4.29-acre property has approximately 140 feet of frontage on US 131 and is zoned Commercial.
Key Highlights
- 2,800‑square‑foot flex property built in 2000
- 40‑by‑60‑foot shop with cement floor and 3‑ton crane
- Two doors, each 14 feet high and 13 feet wide
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,175
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,500
$303.5K
Cap Rate 7%
$216,786
$216.8K
Cap Rate 9%
$168,611
$168.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$22.5K $8.04/SF
− Vacancy
−$833 −$0.30/SF
EGI
$21.7K $7.74/SF
− OpEx
−$6.5K −$2.32/SF
NOI
$15.2K $5.42/SF
Area
Antrim County, MI
Vacancy
3.70%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,500
Cap Rate 7%
$216,786
Cap Rate 9%
$168,611
Alternative Uses
Best Use
Industrial
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 7.06%
Second Best
Flex RnD
$171.1K
$149.7K – $199.6K
NOI $11,977 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$498.3K
$436.0K – $581.3K
NOI $34,880 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Well-served
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A commercial flex property pairs a shop area with two offices and a bathroom on a multi-acre site.
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 $214,900.
What are key features of this property?
This property features: 2,800‑square‑foot flex property built in 2000; 40‑by‑60‑foot shop with cement floor and 3‑ton crane; Two doors, each 14 feet high and 13 feet wide
