Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Luxury Storage/Workspace Unit Title is generated by Realmo AI

    5384 Commerce Boulevard, Indian River, MI 49749

    View on Map
    Claim this Listing
    For Sale
    $189,900

    LAND - Indian River, MI

    Property size:
    1,440 SF
    Price / SF:
    $131/SF
    Added:
    May 13, 2025
    Days on Market:
    369
    Last Refresh:
    May 16 at 12:06 pm

    Property Features for 5384 Commerce Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    L Ind
    Standard status
    Active
    APN
    162-030-300-001-17 parent
    Size
    1,440 SF

    Taxes and HOA fees

    Tax Description
    part of COM W1/4 COR SEC 30, T35N,R2W; TH S 89D 28' 28'' E ALG E-W 1/4 LI 764.33FT (RECD 764.29FT) TO 1/2'' BAR; TH S 89D 28' 28'' E ALG SD 1/4 LI 1413.21FT; TH S 38D 30' 23'' E 725.94FT TO POB; TH N 51D 27' 00'' E 729.72FT TO CONC MONU ON ROW OF ;...

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Billy Andrew

    Listing agent Billy Andrew License #6506045131

    Listing office COLDWELL BANKER SCHMIDT INDIAN RIVER 3970 S Straits Highway P.O. Box 631, Indian River, MI

    Listing date May 13, 2025

    MLS# 201839113 Listing URL

    Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Spacious 24' x 60' luxury unit with modern architecture
    • Includes a large 24' x 15' mezzanine perfect for an office, lounge, or storage
    • Oversized 16' x 16' garage door with Liftmaster opener ideal for large vehicles
    • Convenient half bath, rinse tub, and cold water spigot on the main level
    • Efficient heating provides year‑round comfort
    • Zoned light industrial, suitable for commercial or personal use

    Overview

    This brand new 24' x 60' luxury unit offers upscale storage and workspace. The unit features modern architecture and includes a spacious 24' x 15' mezzanine suitable for an office, personal lounge, or private storage. A half bath, rinse tub, and cold water spigot are located on the main level. Efficient heating ensures year-round comfort. The 16' x 16' oversized garage door, equipped with a Liftmaster opener, can accommodate boats, RVs, and other equipment. Zoned light industrial (L Ind), this versatile space is suitable for a wide range of commercial or personal uses. The property is located minutes from downtown Indian River and the shores of Mullett and Burt Lake, in Cheboygan County, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Storage Facility (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indian River
    County
    Cheboygan
    State
    Michigan
    Longitude
    -84.596617
    Latitude
    45.39541

    Nearby Similar for Sale

    • $199,900
      1,048 SF

      Move-in Ready Commercial Office Space

      Commercial office space near recreational attractions in Indian River, MI.
      4878 S Straits Highway, Indian River, MI 49749
      View Details
    • $119,900
      1,440 SF

      Upscale Storage Condos For Sale

      Modern storage condos with customizable interior near I-75.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $189,900
      1,440 SF

      Luxury Storage and Workspace Unit

      New luxury flex unit near Indian River and Mullett Lake.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $189,900
      1,440 SF

      Luxury Flex Space Unit

      Upscale storage and workspace near Indian River and Burt Lake.
      5384 COMMERCE BOULEVARD, INDIAN RIVER, MI 49749
      View Details
    • $249,900
      2,430 SF

      Commercial Property in Indian River

      Retail or repair shop with warehouse and office space.
      4735 S Straits Highway, Indian River, MI 49749
      View Details
    • $349,900
      4,160 SF

      Indian River Commercial Building For Sale

      Commercial building suitable for storage or business in Indian River.
      6300 S Straits Highway, Indian River, MI 49749
      View Details
    • $119,900
      1,440 SF

      Upscale Storage Condos For Sale

      Modern storage condos with customization options and convenient access.
      5384 Commerce Boulevard, Indian River, MI 49749
      View Details
    • $885,000
      2,500 SF

      Established Indian River Chocolate Shop

      Profitable fudge, chocolate, and ice cream shop for sale.
      3676 S Straits Highway, Indian River, MI 49749
      View Details
    • $225,000

      Move-in Ready Commercial Office Space

      Commercial office near recreational attractions with excellent highway exposure.
      4878 S Straits Highway Indian River, MI 49749
      View Details
    • $885,000
      2,500 SF

      Commercial/Industrial

      3676 S Straits Highway, Indian River, MI 49749
      View Details
    • $189,900
      1,440 SF

      New Luxury Flex Space Unit

      Upscale storage and workspace near Indian River and Mullett Lake.
      5384 Commerce Boulevard, Indian River, MI 49749
      View Details
    • $189,900
      1,475 SF

      Indian River Commercial Flex Space

      New luxury flex unit near Indian River and Burt Lake.
      5384 Commerce Boulevard, Indian River, MI 49749
      View Details

    FAQs

    What type of property is this?
    Flex space - Upscale 24' x 60' unit near Indian River.
    Where is this flex space located?
    The property is located at 5384 Commerce Boulevard Indian River, MI.
    What is the asking price?
    The asking price for this property is $189,900.
    What are key features of this property?
    This property features: Spacious 24' x 60' luxury unit with modern architecture; Includes a large 24' x 15' mezzanine perfect for an office, lounge, or storage; Oversized 16' x 16' garage door with Liftmaster opener ideal for large vehicles
    (231) 420-9231
    We can help!
    Listing Contact
    Billy Andrew
    Real Estate License ID: 6506045131
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5384 Commerce Boulevard, Indian River, MI 49749
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!