Commercial Property with Pole
For Sale
$279,900
8890 US-131 S, Grawn, MI 49637
Commercial, Grawn, MI
Property Size1,836 SF
Lot Size0.76 Acres
Price / SF$152.45
Days on Market172
Property Features for 8890 US-131 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Exterior features
Wood
Lot features
Freestanding
Directions
From TC, US 31 South toward Interlochen, on right just before Rodgers Road. Before Interlochen Corners.
Subdivision
Grand Traverse
Standard status
Active
Size
1,836 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Description
E 100 FT OF W 600 FT OF S 330 FT OF SW 1/4 OF SW 1/4 SEC 10 T26N R12W
Legal Description
E 100 FT OF W 600 FT OF S 330 FT OF SW 1/4 OF SW 1/4 SEC 10 T26N R12W
Utilities
Water source
Private
Building Details
Building materials
Frame
Listing Agency:
Bouwman Realty Group
(231) 631-4919
Listed By:
Laurie Bouwman
(231) 631-4919
Added: Mar 2
Changed: Aug 19
Last Checked: Aug 21 at 10:06AM
MLS# 1942619
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 offering combines multiple structures on a single commercial-zoned parcel. The front portion includes a 1,836-square-foot building. Behind it is a 40 by 24 pole barn with heat and electric. The site also includes a residential home currently on the property, with up to four bedrooms, a fieldstone fireplace, and included appliances. Public remarks note newer systems, including the water heater and furnace.
The property sits on nearly 0.76 acres and includes approximately 100 feet of road frontage, providing direct visibility along a major corridor. The location is described as very near Interlochen Corners and within reach of Interlochen Village and Interlochen Center for the Arts, with Traverse City also in the surrounding area.
The commercial zoning and existing on-site improvements make this a workable fit for an owner-operator approach, whether you intend to keep the home as a residence or rental, start a home-based business, or open a new business utilizing the existing commercial infrastructure. Prospective tenants, buyers, and investors can review the configuration for multi-use continuity across the residential home, front building, and heated pole barn while considering the property’s current residential occupancy and commercial entitlement.
The property sits on nearly 0.76 acres and includes approximately 100 feet of road frontage, providing direct visibility along a major corridor. The location is described as very near Interlochen Corners and within reach of Interlochen Village and Interlochen Center for the Arts, with Traverse City also in the surrounding area.
The commercial zoning and existing on-site improvements make this a workable fit for an owner-operator approach, whether you intend to keep the home as a residence or rental, start a home-based business, or open a new business utilizing the existing commercial infrastructure. Prospective tenants, buyers, and investors can review the configuration for multi-use continuity across the residential home, front building, and heated pole barn while considering the property’s current residential occupancy and commercial entitlement.
Key Highlights
- 100 ft of road frontage on US Highway 31
- 1836 SF building plus a 40x24 heated and electrified pole barn
- Over 3/4 acre lot with private water source
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
$17,449
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
6.23%
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%
$348,980
$349.0K
Cap Rate 7%
$249,271
$249.3K
Cap Rate 9%
$193,878
$193.9K
Market Conditions
NOI Build-Up for 1,836 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
$33.0K $18.00/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$31.7K $17.28/SF
− OpEx
−$14.3K −$7.78/SF
NOI
$17.4K $9.50/SF
Area
Grand Traverse County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$348,980
Cap Rate 7%
$249,271
Cap Rate 9%
$193,878
Alternative Uses
Best Use
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,449 @ 7.0% cap · market cap 6.23%
Second Best
Mixed Use
$223.8K
$195.8K – $261.1K
NOI $15,663 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$398.8K
$349.0K – $465.3K
NOI $27,919 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 49637, MI
3,466
Population
1,562
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
156
Density / Sq Mi
$74,871
Median Household Income
$29,035
Median Earnings
$1,309
Median Rent
$228,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Commercial-zoned property with a front building, heated/electrified pole barn, and a residential home on nearly 0.8 acres.
Where is this single family property located?
The property is located at 8890 US-131 S Grawn, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 100 ft of road frontage on US Highway 31; 1836 SF building plus a 40x24 heated and electrified pole barn; Over 3/4 acre lot with private water source
