Storage Barn Condominium
5863A Storage Loop Drive Unit 12A, Traverse City, MI 49685
For Sale
Contact for pricing
Pole-barn storage unit with a 14' x 14' insulated overhead door, concrete slab floor, and future bath rough-plumbing.
Property Size1,500 SF
Price / SF$121.27
Days on Market706
Property Features for 5863A Storage Loop Drive Unit 12A
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Utilities to Site
Amenities
insulated overhead door
concrete apron approach
extra wide asphalt driveway
Building Details
Construction
Listing Agency:
CENTURY 21 Northland
Listed By:
Mary Rollert · License #MI
(231) 883-6837
Source:
Crexi
Added: Dec 4, 2024
Changed: Oct 25
Last Checked: Nov 8 at 7:32AM
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 CENTURY 21 Northland
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Silver Lake Storage Barns offers a storage site condominium unit constructed with pole-barn framing and a steel exterior panel system. The building includes 16-foot metal side wall construction, a shingled roof, and a 14' x 14' insulated overhead door for convenient access. The unit is set on a 4-inch reinforced concrete slab floor with a 5-foot concrete apron/approach, and it also includes an extra-wide asphalt driveway. Natural gas, water, and sewer are available, and a future bath is rough-plumbed.
The development is located on the east side of Silver Lake Road, between Grawn corners (US 31) and Curtis Road to the north, with easy access just off US 31 and West Silver Lake Road. The property is identified as commercially zoned, supporting a range of storage-focused uses.
This offering is for Unit 12A within the Silver Lake Storage Barns storage site condominium development.
The development is located on the east side of Silver Lake Road, between Grawn corners (US 31) and Curtis Road to the north, with easy access just off US 31 and West Silver Lake Road. The property is identified as commercially zoned, supporting a range of storage-focused uses.
This offering is for Unit 12A within the Silver Lake Storage Barns storage site condominium development.
Key Highlights
- 30' x 50' pole barn storage with 16' metal side wall construction and steel exterior panels
- Includes a 14' x 14' insulated overhead door for storage access
- 4" reinforced concrete slab floor plus a 5' concrete apron/approach
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,519
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,380
$250.4K
Cap Rate 7%
$178,843
$178.8K
Cap Rate 9%
$139,100
$139.1K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$19.4K $12.96/SF
− Vacancy
−$1.6K −$1.04/SF
EGI
$17.9K $11.92/SF
− OpEx
−$5.4K −$3.58/SF
NOI
$12.5K $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 Rate 5%
$250,380
Cap Rate 7%
$178,843
Cap Rate 9%
$139,100
Alternative Uses
Best Use
Self Storage
$178.8K
$156.5K – $208.7K
NOI $12,519 @ 7.0% cap · market cap 6.88%
Second Best
Warehouse
$170.5K
$149.2K – $199.0K
NOI $11,937 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
$309,200
Median Home Value
Market
Average Price Trend$/SF for Self storage facilities in Grand Traverse County, MI
Properties on Market for Self storage facilities in Grand Traverse County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Pole-barn storage unit with a 14' x 14' insulated overhead door, concrete slab floor, and future bath rough-plumbing.
Where is this self storage facility located?
The property is located at 5863A Storage Loop Drive Unit 12A Traverse City, MI.
What is the asking price?
The asking price for this property is $181,900.
What are key features of this property?
This property features: 30' x 50' pole barn storage with 16' metal side wall construction and steel exterior panels; Includes a 14' x 14' insulated overhead door for storage access; 4" reinforced concrete slab floor plus a 5' concrete apron/approach
