Commercial Building in Charlevoix,
For Sale
$489,000
802 Bridge St, Charlevoix, MI 49720
4,140 SF commercial building in Charlevoix, MI for sale.
Property Size4,140 SF
Price / SF$118.12
Days on Market194
Property Features for 802 Bridge St
General Information
Standard status
Active
Size
4,140 SF
Property subtype
Retail
Building Details
Building Size
4,140 SF
Listing Agency:
Graham Real Estate
Listed By:
Jennifer Miller
(231) 526-6251
Source:
Cpix.resimplifi
Added: Mar 27
Changed: Sep 14
Last Checked: Oct 5 at 3:07PM
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 Graham Real Estate
Investment Insights
Based on property information with market context.
Located in Charlevoix, MI, this commercial building offers 4,140 square feet of space. The property is zoned for commercial use and is currently 100% occupied, with two fully leased units. This property represents an investment opportunity with a stable income stream.
Key Highlights
- Fully leased with 100% occupancy, providing a stable income stream
- Zoned for commercial use
- 4,140 SF commercial building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,688
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,760
$813.8K
Cap Rate 7%
$581,257
$581.3K
Cap Rate 9%
$452,089
$452.1K
Market Conditions
NOI Build-Up for 4,140 SF
Gross rent
$69.6K $16.80/SF
− Vacancy
−$15.3K −$3.70/SF
EGI
$54.3K $13.10/SF
− OpEx
−$13.6K −$3.28/SF
NOI
$40.7K $9.83/SF
Area
Charlevoix County, MI
Vacancy
22.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,760
Cap Rate 7%
$581,257
Cap Rate 9%
$452,089
Alternative Uses
Best Use
Office B
$581.3K
$508.6K – $678.1K
NOI $40,688 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$838.0K
$733.3K – $977.7K
NOI $58,662 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 4,140 SF commercial building in Charlevoix, MI for sale.
Where is this office building located?
The property is located at 802 Bridge St Charlevoix, MI.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Fully leased with 100% occupancy, providing a stable income stream; Zoned for commercial use; 4,140 SF commercial building
