Warehouse Condo with High
New
For Sale
$150,000
566 West Branch Road, Prudenville, MI 48651
Commercial Sale, Prudenville, MI
Property Size1,500 SF
Price / SF$100
Days on Market4
Property Features for 566 West Branch Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Subdivision
Jc Garage Condos
Directions
Approx 2 miles west of Prudenville on M-55. Right across from Springbrook in. Unit 41
Standard status
Active
APN
003-450-041-0000
Size
1,500 SF
Taxes and HOA fees
Tax Description
1166/2626 1166/2625 1166/2624 1107/1499 1104/1158 950/1697 L951/P1253 L950/P1697 L787/P246 223 UNIT 41 JC GARAGE CONDOMINIUMS SPLIT/COMBINED ON 01/03/2019 FROM 003-012-012-0080; INTO 003-012-012-0500, 003-450-000-1000, 003-450-001-0000, 003-450-002-0000,
HOA Fee
$100 Annually
Legal Description
1166/2626 1166/2625 1166/2624 1107/1499 1104/1158 950/1697 L951/P1253 L950/P1697 L787/P246 223 UNIT 41 JC GARAGE CONDOMINIUMS SPLIT/COMBINED ON 01/03/2019 FROM 003-012-012-0080; INTO 003-012-012-0500, 003-450-000-1000, 003-450-001-0000, 003-450-002-0000,
Building Details
Building materials
Steel Siding
Listing Agency:
NextHome Up North
(989) 366-3777
Listed By:
Brian J Farrell
(989) 387-0738
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 6 at 12:06AM
MLS# 201842652
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.
Investment Insights
Based on property information with market context.
This commercial warehouse condo provides a private storage building measuring 30 feet by 50 feet, with 1,500 square feet of interior space and a 14-foot-high entry door. The approximately two-year-old structure features steel siding and onsite electric service. The sale also includes a 2018 Thor Windsport motorhome.
The property is located at 566 West Branch Road in Prudenville, approximately two miles west of Houghton Lake. Its warehouse configuration accommodates storage of recreational vehicles, boats, and other personal or commercial property, with direct drive-up access to the individual building.
The property is located at 566 West Branch Road in Prudenville, approximately two miles west of Houghton Lake. Its warehouse configuration accommodates storage of recreational vehicles, boats, and other personal or commercial property, with direct drive-up access to the individual building.
Key Highlights
- 1,500‑square‑foot warehouse condo
- 30‑foot by 50‑foot private building
- 14‑foot‑high entry door
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
$10,316
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
6.88%
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%
$206,320
$206.3K
Cap Rate 7%
$147,371
$147.4K
Cap Rate 9%
$114,622
$114.6K
Market Conditions
NOI Build-Up for 1,500 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
$13.5K $9.00/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$12.1K $8.09/SF
− OpEx
−$1.8K −$1.21/SF
NOI
$10.3K $6.88/SF
Area
Roscommon County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$206,320
Cap Rate 7%
$147,371
Cap Rate 9%
$114,622
Alternative Uses
Best Use
Warehouse
$147.4K
$129.0K – $171.9K
NOI $10,316 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.9K
$216.0K – $288.0K
NOI $17,280 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48651, MI
4,396
Population
3,825
Households
1.1
Avg Household Size
56
Median Age
19%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
62
Density / Sq Mi
$42,938
Median Household Income
$32,917
Median Earnings
$797
Median Rent
$156,000
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
- M55 Storage — 592 W West Branch Rd, Prudenville, MI 48651
- East End Storage Units — 75 W West Branch Rd, Prudenville, MI 48651
- JAC's Indoor Storage — 1788 Short Dr, Prudenville, MI 48651
Frequently Asked Questions
What type of property is this?
Warehouse - Private warehouse condo with onsite electricity and steel siding for flexible storage use.
Where is this warehouse located?
The property is located at 566 West Branch Road Prudenville, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,500‑square‑foot warehouse condo; 30‑foot by 50‑foot private building; 14‑foot‑high entry door
