New Warehouse with Overhead
For Sale
Under Contract
$179,000
S M-66 lot 3, Mancelona, MI 49659
Land, Mancelona, MI
Property Size2,560 SF
Price / SF$69.92
Days on Market173
Property Features for S M-66 lot 3
General Information
Property type
Land
Property subtype
Other
Subdivision
Mancelona Meadows
Lot features
Frame Only
Elementary school
Mancelona
High school
Mancelona
Elementary school district
Mancelona
Middle school district
Mancelona
High school district
Mancelona
Directions
From Mancelona, US-131 N to M-66. Property on the right.
Standard status
Active Under Contract
APN
Part of: 05-11-109-012-10
Taxes and HOA fees
Tax Description
Lot 3 Mancelona Meadows - Part of: NW 1/4 SEC 9 T29N R6W 160 A
Legal Description
Lot 3 Mancelona Meadows - Part of: NW 1/4 SEC 9 T29N R6W 160 A
Utilities
Water source
Well
Listing Agency:
smith realty GROUP
(989) 732-2477
Listed By:
Ryan Wojan · License #6506047353
(312) 545-8596
Added: May 13
Changed: Oct 13
Last Checked: Nov 1 at 1:06PM
MLS# 201840023
Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This newly constructed 64x40 pole building provides 2,560 square feet of enclosed space for storage, workshop use, or business equipment. The improvement includes a concrete floor, full electric installation, a 5'' well, 16-foot sidewalls, and two 12x14 overhead doors. The configuration accommodates boats, vehicles, and other large equipment while supporting flexible personal or commercial use.
The property is located on S M-66 in Mancelona Meadows and offers proximity to US-131 for regional access. It sits within an unzoned township, providing flexibility for the property's stated storage, workshop, and business applications.
The property is located on S M-66 in Mancelona Meadows and offers proximity to US-131 for regional access. It sits within an unzoned township, providing flexibility for the property's stated storage, workshop, and business applications.
Key Highlights
- New 64x40 pole building with 2,560 square feet of enclosed space
- 16' sidewalls and two 12x14 overhead doors
- Concrete floor and full electric installation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,875
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,500
$277.5K
Cap Rate 7%
$198,214
$198.2K
Cap Rate 9%
$154,167
$154.2K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$20.6K $8.04/SF
− Vacancy
−$762 −$0.30/SF
EGI
$19.8K $7.74/SF
− OpEx
−$5.9K −$2.32/SF
NOI
$13.9K $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 Rate 5%
$277,500
Cap Rate 7%
$198,214
Cap Rate 9%
$154,167
Alternative Uses
Best Use
Warehouse
$240.7K
$210.6K – $280.8K
NOI $16,848 @ 7.0% cap · market cap 9.41%
Second Best
Industrial
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$455.6K
$398.6K – $531.5K
NOI $31,890 @ 7.0% cap · market cap 17.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49659, MI
6,670
Population
4,586
Households
1.5
Avg Household Size
44
Median Age
18%
College-Educated
89%
High-School Grad
175.0 sq mi
ZIP Area
38
Density / Sq Mi
$59,092
Median Household Income
$33,269
Median Earnings
$792
Median Rent
$141,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Mancelona Self Storage - Scholl Rd — 1901 Scholl Rd, Mancelona, MI 49659
Frequently Asked Questions
What type of property is this?
Warehouse - New pole building offers concrete flooring, full electrical service, and an unzoned township setting.
Where is this warehouse located?
The property is located at S M-66 lot 3 Mancelona, MI.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: New 64x40 pole building with 2,560 square feet of enclosed space; 16' sidewalls and two 12x14 overhead doors; Concrete floor and full electric installation
