Pole Barn on Paved
For Sale
$150,000
6452 Hilary Drive, Charlevoix, MI 49720
LAND - Charlevoix Twp, MI
Property Size1,800 SF
Lot Size0.11 Acres
Price / SF$83.33
Days on Market74
Property Features for 6452 Hilary Drive
General Information
Property type
Land
Property subtype
Other
Zoning
Commercial
Subdivision
Bells Bay Storage
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
Head south on Evergreen Ln/Evergreen Point Rd Turn right onto Evergreen Ln Turn right onto M-66 N Turn left onto US-31 S/Bridge St Continue to follow US-31 S Turn right onto Bells Bay Rd S Turn left Destination will be on the left
Standard status
Active
APN
00424003400
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
UNIT 34 BELLS BAY STORAGE 2ND AMEND AS RECD L719 P828-834 CHX CO R/D 1.32% RESTATED MASTER DEED L1363 P848 SPLIT ON 11/10/2005 FROM 004-033-002-20, 004-033-006-75
Tax Annual Amount
2830
Legal Description
UNIT 34 BELLS BAY STORAGE 2ND AMEND AS RECD L719 P828-834 CHX CO R/D 1.32% RESTATED MASTER DEED L1363 P848 SPLIT ON 11/10/2005 FROM 004-033-002-20, 004-033-006-75
Utilities
Sewer type
Unknown
Listing Agency:
ByOwner.com
(800) 296-9637
Listed By:
Michael Ayoub · License #6502432014
(586) 405-4111
Added: Jun 9
Changed: Jun 22
Last Checked: Aug 21 at 9:06AM
MLS# 20261042759
Copyright © 2026 Realcomp Limited II. 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.
The property is a 30' x 60' pole barn with a metal roof and interior walls, set up for practical storage and light-use needs. The building includes a 14' electronic garage door, electric service, and LED lighting. A concrete floor is already in place, and the structure could be insulated and heated if desired.
The barn is located on the south end of Charlevoix, close to town and a boat ramp. It sits on a paved road and is accessible via a concrete driveway, supporting convenient ingress and egress.
For buyers seeking a straightforward storage structure, this facility offers the core components to operate as-is or adapt over time. The existing power and lighting can support daily access, while the concrete floor and barn configuration provide a base for future insulation or heating upgrades. The commercial zoning and dedicated site access make it a straightforward option for tenants or owners looking for a utilitarian warehouse-style building in Charlevoix Township.
The barn is located on the south end of Charlevoix, close to town and a boat ramp. It sits on a paved road and is accessible via a concrete driveway, supporting convenient ingress and egress.
For buyers seeking a straightforward storage structure, this facility offers the core components to operate as-is or adapt over time. The existing power and lighting can support daily access, while the concrete floor and barn configuration provide a base for future insulation or heating upgrades. The commercial zoning and dedicated site access make it a straightforward option for tenants or owners looking for a utilitarian warehouse-style building in Charlevoix Township.
Key Highlights
- 30x60 pole barn with concrete floor on a paved road
- 14' electronic garage door
- Electric service and LED lighting, with metal roof and interior walls
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
$13,715
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
9.14%
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%
$274,300
$274.3K
Cap Rate 7%
$195,929
$195.9K
Cap Rate 9%
$152,389
$152.4K
Market Conditions
NOI Build-Up for 1,800 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
$17.9K $9.96/SF
− Vacancy
−$1.8K −$1.00/SF
EGI
$16.1K $8.96/SF
− OpEx
−$2.4K −$1.34/SF
NOI
$13.7K $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%
$274,300
Cap Rate 7%
$195,929
Cap Rate 9%
$152,389
Alternative Uses
Best Use
Warehouse
$195.9K
$171.4K – $228.6K
NOI $13,715 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.4K
$318.8K – $425.1K
NOI $25,505 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Functional pole barn with a 14' electronic garage door, concrete floor, and electric service for flexible storage use.
Where is this warehouse located?
The property is located at 6452 Hilary Drive Charlevoix, 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: 30x60 pole barn with concrete floor on a paved road; 14' electronic garage door; Electric service and LED lighting, with metal roof and interior walls
