Heated Warehouse with
For Sale
$249,900
6439 DANIELLE DRIVE, Charlevoix, MI 49720
CHARLEVOIX, MI
Property Size2,304 SF
Price / SF$108.46
Days on Market9
Property Features for 6439 DANIELLE DRIVE
General Information
Property type
Land
Property subtype
Other
Subdivision
Charlevoix
Standard status
Active
Listing Agency:
Charlevoix · Coldwell Banker Real Estate
(231) 547-4444
Listed By:
Mark Knapp
(231) 675-5551
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 21 at 5:06AM
MLS# 1947073
Copyright © 2026 Coldwell Banker Schmidt 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 storage condominium is a heated pole-barn warehouse measuring approximately 2,304 square feet. The interior includes a 16-foot by 36-foot mezzanine that can support additional storage or workspace, while a 16-foot by 20-foot overhead door accommodates larger vehicles and equipment. The space is suited to boat, RV, vehicle, recreational equipment, or business storage.
The property is located at 6439 Danielle Drive in Charlevoix, Michigan, near the public Lake Charlevoix boat launch and fish cleaning station. Fisherman’s Island State Park is also nearby, with camping, hiking, and Lake Michigan shoreline access.
The property is located at 6439 Danielle Drive in Charlevoix, Michigan, near the public Lake Charlevoix boat launch and fish cleaning station. Fisherman’s Island State Park is also nearby, with camping, hiking, and Lake Michigan shoreline access.
Key Highlights
- Approximately 2,304 square feet of heated warehouse space
- 32' x 72' pole‑barn storage condominium
- 16' x 36' mezzanine for added storage or workspace
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
$17,555
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
7.02%
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%
$351,100
$351.1K
Cap Rate 7%
$250,786
$250.8K
Cap Rate 9%
$195,056
$195.1K
Market Conditions
NOI Build-Up for 2,304 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
$22.9K $9.96/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$20.7K $8.96/SF
− OpEx
−$3.1K −$1.34/SF
NOI
$17.6K $7.62/SF
Area
Charlevoix County, MI
Vacancy
10.00%
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%
$351,100
Cap Rate 7%
$250,786
Cap Rate 9%
$195,056
Alternative Uses
Best Use
Warehouse
$250.8K
$219.4K – $292.6K
NOI $17,555 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$466.4K
$408.1K – $544.1K
NOI $32,647 @ 7.0% cap · market cap 13.06%
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
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49720, MI
9,127
Population
6,236
Households
1.5
Avg Household Size
52
Median Age
38%
College-Educated
97%
High-School Grad
95.5 sq mi
ZIP Area
96
Density / Sq Mi
$76,127
Median Household Income
$41,563
Median Earnings
$985
Median Rent
$265,100
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
- Platinum Yacht Services — 5886 US-31, Charlevoix, MI 49720
Frequently Asked Questions
What type of property is this?
Warehouse - Heated storage space includes a mezzanine and oversized overhead door for equipment access.
Where is this warehouse located?
The property is located at 6439 DANIELLE DRIVE Charlevoix, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Approximately 2,304 square feet of heated warehouse space; 32' x 72' pole‑barn storage condominium; 16' x 36' mezzanine for added storage or workspace
