Pole Barn Storage
For Sale
$356,900
5801 Storage Loop Drive, Traverse City, MI 49685
Pole barn construction includes two 16-by-16 insulated overhead doors, insulated walls, and a finished bathroom.
Property Size3,840 SF
Price / SF$92.94
Days on Market215
Property Features for 5801 Storage Loop Drive
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Clear Height
16 ft
Amenities
finished bathroom
forced air natural gas unit heater
ceiling fan
30 AMP outlet
extra wide asphalt driveway
Building Details
Building Size
3,840 SF
Year Built
2025
Construction
pole barn
Listing Agency:
REO-TCRandolph-233022
(231) 883-6837
Listed By:
Mary Rollert · License #6501404074
(231) 883-6837
Source:
Phgrealty
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 9 at 1:36PM
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 REO-TCRandolph-233022
Investment Insights
Based on property information with market context.
Silver Lake Storage Barns offers a storage site condominium development featuring pole barn construction with steel exterior panels. The unit is built as a 48-by-80 structure with 16-foot metal side walls, insulated overhead doors, and an insulated interior with white steel finishes on the side walls and ceiling. Interior features include a finished bathroom with a stool, sink, vanity light, fan with light, a small electric heater, and a 2.5-gallon water heater. Heating is provided by a forced air natural gas unit, and the barn includes a ceiling fan at center and a 30-amp outlet. A shingled roof and a 5-foot concrete apron/approach are included, along with an extra-wide asphalt driveway.
The property is described as commercially zoned and positioned for easy access just off US 31 and West Silver Lake Road, with the address at 5801 Storage Loop Drive in Blair Township, Michigan.
This storage barn is set up for practical drive-up access with (2) 16-foot-by-16-foot insulated overhead doors.
The property is described as commercially zoned and positioned for easy access just off US 31 and West Silver Lake Road, with the address at 5801 Storage Loop Drive in Blair Township, Michigan.
This storage barn is set up for practical drive-up access with (2) 16-foot-by-16-foot insulated overhead doors.
Key Highlights
- 2025 storage site condominium development: pole barn with steel exterior panels
- 48' x 80' barn with 16' metal side walls and two 16' x 16' insulated overhead doors
- Insulated side walls and ceiling (batting and blown‑in cellulose), with forced‑air natural gas unit heater
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
$32,050
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
8.98%
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%
$641,000
$641.0K
Cap Rate 7%
$457,857
$457.9K
Cap Rate 9%
$356,111
$356.1K
Market Conditions
NOI Build-Up for 3,840 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
$49.8K $12.96/SF
− Vacancy
−$4.0K −$1.04/SF
EGI
$45.8K $11.92/SF
− OpEx
−$13.7K −$3.58/SF
NOI
$32.0K $8.35/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$641,000
Cap Rate 7%
$457,857
Cap Rate 9%
$356,111
Alternative Uses
Best Use
Self Storage
$457.9K
$400.6K – $534.2K
NOI $32,050 @ 7.0% cap · market cap 8.98%
Second Best
Warehouse
$436.6K
$382.0K – $509.3K
NOI $30,559 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$834.2K
$729.9K – $973.2K
NOI $58,393 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 49685, MI
20,856
Population
9,395
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
54.2 sq mi
ZIP Area
385
Density / Sq Mi
$82,639
Median Household Income
$45,783
Median Earnings
$1,338
Median Rent
$309,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Pole barn construction includes two 16-by-16 insulated overhead doors, insulated walls, and a finished bathroom.
Where is this self storage facility located?
The property is located at 5801 Storage Loop Drive Traverse City, MI.
What is the asking price?
The asking price for this property is $356,900.
What are key features of this property?
This property features: 2025 storage site condominium development: pole barn with steel exterior panels; 48' x 80' barn with 16' metal side walls and two 16' x 16' insulated overhead doors; Insulated side walls and ceiling (batting and blown‑in cellulose), with forced‑air natural gas unit heater
