Storage Condo in Railway
6369 N Railway, Williamsburg, MI 49690
For Sale
$199,900
Versatile 1,345 sq ft storage unit for sale.
Property Size1,345 SF
Price / SF$148.62
Days on Market243
Property Features for 6369 N Railway
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Coldwell Banker Schmidt Traverse City
Listed By:
Karen J Schmidt · License #6501234844
(231) 218-4463
Source:
Elliman
Added: Mar 10
Changed: Aug 13
Last Checked: Aug 21 at 5:21AM
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
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Investment Insights
Based on property information with market context.
Located in Railway Commons Business Park, this 1,345 sq ft storage condo (26.9 ft x 50 ft) is suitable for personal, business, or recreational storage. The unit includes a 14 ft x 14 ft insulated overhead door with an opener, one window, and a service door. It is plumbed for a gas heater and features cold water with a hose bib, along with 200-amp electrical service. A shared bathroom is accessible, equipped with a sink, shower, and laundry tub. Situated in Acme Township, the property provides convenient access to M-72 and US-31, making it a potentially strategic investment in a developing commercial area.
Key Highlights
- Versatile 1,345 sq ft storage condo suitable for personal, business, or recreational use.
- 14’ x 14’ insulated overhead door with opener** for easy access.
- Plumbed for gas heater, cold water with hose bib, and 200‑amp electrical service.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,226
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,520
$224.5K
Cap Rate 7%
$160,371
$160.4K
Cap Rate 9%
$124,733
$124.7K
Market Conditions
NOI Build-Up for 1,345 SF
Gross rent
$17.4K $12.96/SF
− Vacancy
−$1.4K −$1.04/SF
EGI
$16.0K $11.92/SF
− OpEx
−$4.8K −$3.58/SF
NOI
$11.2K $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%
$224,520
Cap Rate 7%
$160,371
Cap Rate 9%
$124,733
Alternative Uses
Best Use
Self Storage
$160.4K
$140.3K – $187.1K
NOI $11,226 @ 7.0% cap · market cap 5.62%
Second Best
Industrial
$112.0K
$98.0K – $130.6K
NOI $7,838 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$292.2K
$255.7K – $340.9K
NOI $20,453 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
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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
$329,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Versatile 1,345 sq ft storage unit for sale.
Where is this self storage facility located?
The property is located at 6369 N Railway Williamsburg, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Versatile **1,345 sq ft storage condo** suitable for personal, business, or recreational use.; 14’ x 14’ insulated overhead door with opener** for easy access.; Plumbed for gas heater, cold water with hose bib, and 200‑amp electrical service.
