Flexible Commercial Warehouse
For Sale
$1,600,000
5600 Us-31 N, Williamsburg, MI 49690
Flex and warehouse space includes showroom areas, overhead doors, a loading dock, and ample parking with dual access.
Property Size15,889 SF
Lot Size1.10 Acres
Price / SF$100.70
Days on Market55
Property Features for 5600 Us-31 N
General Information
Standard status
Active
Size
15,889 SF
Lot size
1.10 Acres
Property subtype
Commercial
Zoning
Commercial, Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
15,889 SF
Year Built
1970
Listing Agency:
Coldwell Banker Schmidt Traverse City
(231) 499-0529
Listed By:
Alex MacKenzie · License #6506042006
(231) 499-0529
Source:
Homesforsaleinmich
Added: Jun 30
Changed: Aug 23
Last Checked: Aug 23 at 10:16AM
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 Coldwell Banker Schmidt Traverse City
Investment Insights
Based on property information with market context.
This flexible commercial property totals 15,889 square feet and is positioned for a wide range of uses. The building offers expansive showroom space, warehouse facilities, overhead doors, and a loading dock, with ample on-site parking to support day-to-day operations. Wilson's Antiques currently occupies the building, providing in-place income and offering an owner-user, investor, or redevelopment option.
Set along the US-31 corridor in Acme Township, the site features exceptional highway frontage and dual ingress and egress from both US-31 and Cresthaven Lane. The property is directly across from East Bay Harbor Marina and provides views of East Grand Traverse Bay, while also being located just minutes from downtown Traverse City.
The overall layout supports both customer-facing showroom activity and warehouse/receiving functions, with practical access designed to accommodate deliveries and parking needs.
Set along the US-31 corridor in Acme Township, the site features exceptional highway frontage and dual ingress and egress from both US-31 and Cresthaven Lane. The property is directly across from East Bay Harbor Marina and provides views of East Grand Traverse Bay, while also being located just minutes from downtown Traverse City.
The overall layout supports both customer-facing showroom activity and warehouse/receiving functions, with practical access designed to accommodate deliveries and parking needs.
Key Highlights
- Approximately 1.1‑acre commercial property on the US‑31 corridor in Acme Township
- 15,889 SF building with flexible showroom and warehouse space
- Dual ingress/egress from both US‑31 and Cresthaven Lane
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$126,445
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,528,900
$2.5M
Cap Rate 7%
$1,806,357
$1.8M
Cap Rate 9%
$1,404,944
$1.4M
Market Conditions
NOI Build-Up for 15,889 SF
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.
Gross rent
$158.3K $9.96/SF
− Vacancy
−$9.5K −$0.60/SF
EGI
$148.8K $9.36/SF
− OpEx
−$22.3K −$1.40/SF
NOI
$126.4K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,528,900
Cap Rate 7%
$1,806,357
Cap Rate 9%
$1,404,944
Alternative Uses
Best Use
Flex RnD
$2.34M
$2.05M – $2.73M
NOI $163,668 @ 7.0% cap · market cap 10.23%
Second Best
Warehouse
$1.81M
$1.58M – $2.11M
NOI $126,445 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,614 @ 7.0% cap · market cap 15.10%
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
201
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49690, MI
6,494
Population
3,476
Households
1.9
Avg Household Size
50
Median Age
45%
College-Educated
97%
High-School Grad
82.7 sq mi
ZIP Area
79
Density / Sq Mi
$105,701
Median Household Income
$47,114
Median Earnings
$1,279
Median Rent
$329,100
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.
Similar Off Market Nearby
- Catering By Kelly's — 4240 M-72, Williamsburg, MI 49690
Frequently Asked Questions
What type of property is this?
Flex space - Flex and warehouse space includes showroom areas, overhead doors, a loading dock, and ample parking with dual access.
Where is this flex space located?
The property is located at 5600 Us-31 N Williamsburg, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 1.1‑acre commercial property on the US‑31 corridor in Acme Township; 15,889 SF building with flexible showroom and warehouse space; Dual ingress/egress from both US‑31 and Cresthaven Lane
