Bellaire Storage Unit with
For Sale
$168,900
7464 Geronimo Trail, Bellaire, MI 49615
LAND - Bellaire, MI
Property Size2,000 SF
Price / SF$84.45
Days on Market98
Property Features for 7464 Geronimo Trail
General Information
Property type
Land
Property subtype
Other
Zoning
Site Condominium,Bldg & U
Zoning description
Site Condominium, Bldg & Use Restrictions, Storage Buildings
Exterior features
Pole Building
Elementary school district
Bellaire Public Schools
Middle school district
Bellaire Public Schools
High school district
Bellaire Public Schools
Directions
Take M-88 south of Bellaire past Comfort rd. to Storage Barn Development on left. which is approx 3 miles from Bellaire
Subdivision
Antrim
Standard status
Active
Size
2,000 SF
Taxes and HOA fees
Tax Description
Unit #44 M-88 Storage Barns Condominium
Tax Annual Amount
4016
Legal Description
Unit #44 M-88 Storage Barns Condominium
Listing Agency:
Bayside Real Estate
(231) 778-0990
Listed By:
Sharon Reid-Brown
(231) 632-6260
Added: May 6
Changed: Jul 2
Last Checked: Aug 11 at 9:06PM
MLS# 1944858
Copyright © 2026 Northern Great Lakes Realtors 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.
This exceptional quality, 2000 sq. ft. storage unit is located just minutes from Bellaire. The building features 14' sidewalls and is insulated with a finished interior. It is heated by two wall-mounted split units and includes upgraded electrical, ceiling fans, a 100 amp service, and a 30 amp RV outlet. The unit has two 14' insulated overhead doors, a floor drain, and one service door. The property is zoned for site condominium, building and use restrictions, and storage buildings. It offers plenty of room for storing recreational equipment or hobby items and is easily accessible in both summer and winter.
Key Highlights
- 2000 sq. ft. storage unit with 14' sidewalls.
- Heated and insulated building with finished interior.**
- Two 14' insulated overhead doors.**
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
$10,840
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
6.42%
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%
$216,800
$216.8K
Cap Rate 7%
$154,857
$154.9K
Cap Rate 9%
$120,444
$120.4K
Market Conditions
NOI Build-Up for 2,000 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
$16.1K $8.04/SF
− Vacancy
−$595 −$0.30/SF
EGI
$15.5K $7.74/SF
− OpEx
−$4.6K −$2.32/SF
NOI
$10.8K $5.42/SF
Area
Antrim County, MI
Vacancy
3.70%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$216,800
Cap Rate 7%
$154,857
Cap Rate 9%
$120,444
Alternative Uses
Best Use
Self Storage
$228.0K
$199.5K – $266.0K
NOI $15,960 @ 7.0% cap · market cap 9.45%
Second Best
Industrial
$154.9K
$135.5K – $180.7K
NOI $10,840 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$355.9K
$311.4K – $415.2K
NOI $24,914 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 49615, MI
4,161
Population
3,575
Households
1.2
Avg Household Size
57
Median Age
44%
College-Educated
97%
High-School Grad
68.4 sq mi
ZIP Area
61
Density / Sq Mi
$78,750
Median Household Income
$38,635
Median Earnings
$775
Median Rent
$257,000
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?
Self storage facility - High-quality, upgraded storage unit near Bellaire, Michigan.
Where is this self storage facility located?
The property is located at 7464 Geronimo Trail Bellaire, MI.
What is the asking price?
The asking price for this property is $168,900.
What are key features of this property?
This property features: 2000 sq. ft. storage unit with 14' sidewalls.; Heated and insulated building with finished interior.**; Two 14' insulated overhead doors.**
