Pole Barn Storage
Unit C-3 Herrman Rd Elk Rapids, MI 49629
New
Unit C-3 Herrman Rd, Elk Rapids, MI, 49629
$97,500
For Sale
$97,500
Pole barn storage unit with 14-foot ceilings and durable concrete floors, sized for boats, trailers, and other equipment.
Property Size1,000 SF
Price / SF$97.50
Days on Market3
Property Features for Unit C-3 Herrman Rd
General Information
- Standard status
- Active
- Size
- 1,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2000
Listing agency
REO - Elk Rapids-101308
(231) 590-8321
Listed by
Darci Springborn · License #6502411784
Source
Elliman
Added: Jul 19 Updated: Jul 20 at 3:56AM Checked: Jul 21 at 6:17AM
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 REO - Elk Rapids-101308
Investment Insights
Based on property information with market context.
A clean, self-storage unit configured as a pole barn, offering approximately 20 by 50 feet of enclosed storage space. The unit features 14-foot ceilings and durable concrete floors to support storage of larger recreational items and equipment, with room for boats, jet skis, snowmobiles, trailers, campers, or business storage.
The unit is located on Herrman Rd in Elk Rapids Township, roughly two miles from downtown Elk Rapids. The enclosed layout supports year-round use for seasonal storage needs and other secure storage requirements.
Unit C-3 is provided as a standalone, versatile storage space within the facility, designed to keep items protected in an organized, durable interior environment.
The unit is located on Herrman Rd in Elk Rapids Township, roughly two miles from downtown Elk Rapids. The enclosed layout supports year-round use for seasonal storage needs and other secure storage requirements.
Unit C-3 is provided as a standalone, versatile storage space within the facility, designed to keep items protected in an organized, durable interior environment.
Key Highlights
- Pole barn storage unit built in 2000, located about 2 miles from downtown Elk Rapids
- 20' x 50' storage unit provides space for boats, jet skis, snowmobiles, trailers, campers, and equipment
- 14‑foot ceilings for taller storage and improved interior clearance
Local Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.0k | $12.00 |
| − Vacancy | −$600 | −$0.60 |
| EGI | $11.4k | $11.40 |
| − OpEx | −$3.4k | −$3.42 |
| NOI | $8.0k | $7.98 |
1,000 SF · lease $12.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$114.0K
$99.8K – $133.0K
NOI $7,980 @ 7.0% cap · market cap 8.18%
Second Best
Warehouse
$94.0K
$82.3K – $109.7K
NOI $6,581 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$178.0K
$155.7K – $207.6K
NOI $12,457 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Pole barn storage unit with 14-foot ceilings and durable concrete floors, sized for boats, trailers, and other equipment.
Where is this self storage facility located?
The property is located at Unit C-3 Herrman Rd Elk Rapids, MI.
What is the asking price?
The asking price for this property is $97,500.
What are key features of this property?
This property features: Pole barn storage unit built in 2000, located about 2 miles from downtown Elk Rapids; 20' x 50' storage unit provides space for boats, jet skis, snowmobiles, trailers, campers, and equipment; 14‑foot ceilings for taller storage and improved interior clearance
