Insulated Steel Warehouse
For Sale
$275,000
6555 CVX Lane, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size1,875 SF
Price / SF$146.67
Days on Market51
Property Features for 6555 CVX Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
US 31 South of M-66, on west side of 31, across from Chevy dealership
Subdivision
Charlevoix Twp.
Standard status
Active
APN
004-373-005-00
Size
1,875 SF
Taxes and HOA fees
Tax Description
UNIT 5 CVX SKYDOMINIUMS AS REC L 1144 PG 34 - 72 20% SPLIT ON 11/18/2016 FROM 004-034-017-50;
HOA Fee
$445 Quarterly
Legal Description
UNIT 5 CVX SKYDOMINIUMS AS REC L 1144 PG 34 - 72 20% SPLIT ON 11/18/2016 FROM 004-034-017-50;
Utilities
Heating system
Natural Gas
Building Details
Year built
2009
Building materials
Steel Frame
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed By:
Charlotte Arnold
(231) 632-3881
Added: Jul 2
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 478686
Copyright © 2026 Northern Michigan MLS. 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.
Built in 2009, this 1,875-square-foot warehouse unit features steel-frame construction, insulation, and a 20-foot-high door. The building includes water service, township sewer, and natural gas, with natural gas heating. Its open storage configuration can accommodate recreational equipment, hobby activities, or other personal-use needs, subject to applicable requirements.
The property is commercially zoned and positioned for straightforward access to US 31. Located in Charlevoix, Michigan, the unit provides a practical enclosed space with utility connections and a durable steel structure.
The property is commercially zoned and positioned for straightforward access to US 31. Located in Charlevoix, Michigan, the unit provides a practical enclosed space with utility connections and a durable steel structure.
Key Highlights
- 1,875‑square‑foot warehouse unit
- Steel‑frame construction built in 2009
- Insulated interior with a 20' high door
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
$14,286
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
5.19%
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%
$285,720
$285.7K
Cap Rate 7%
$204,086
$204.1K
Cap Rate 9%
$158,733
$158.7K
Market Conditions
NOI Build-Up for 1,875 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
$18.7K $9.96/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$16.8K $8.96/SF
− OpEx
−$2.5K −$1.34/SF
NOI
$14.3K $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%
$285,720
Cap Rate 7%
$204,086
Cap Rate 9%
$158,733
Alternative Uses
Best Use
Warehouse
$204.1K
$178.6K – $238.1K
NOI $14,286 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.5K
$332.1K – $442.8K
NOI $26,568 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned space with utility service and convenient access to US 31.
Where is this warehouse located?
The property is located at 6555 CVX Lane Charlevoix, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,875‑square‑foot warehouse unit; Steel‑frame construction built in 2009; Insulated interior with a 20' high door
