Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Building with Storage Units Title is generated by Realmo AI

    N1864 RANGELINE Drive, Menominee, MI 49858

    View on Map
    Claim this Listing
    For Sale
    $189,900

    Commercial building with storage units, built in 2022.

    Type:Commercial/Industrial
    Property size:
    4,000 SF
    Price / SF:
    $47/SF
    Added:
    May 2, 2025
    Days on Market:
    395
    Last Refresh:
    May 28 at 11:37 pm

    Property Features for N1864 RANGELINE Drive

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Francine Kitkowski

    Listing agent Francine Kitkowski License #90-49928

    Listing office Assist 2 Sell Buyers & Sellers Realty, LLC

    Listing date May 2, 2025

    Source Exitrealty

    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 Assist 2 Sell Buyers & Sellers Realty, LLC

    HighLights

    • Built in 2022: Enjoy modern construction and minimal deferred maintenance.
    • Income‑Generating Storage Units: Benefit from existing rental income.
    • Conversion Potential: Easily transitioned into more storage units for increased revenue.
    • Dual Access: Convenient access from both M‑35 and Rangeline Drive.
    • Garage with Insulated Walls and Large Doors: Versatile 20x100 garage space features insulated walls and 12x12 foot garage doors on both ends.
    • Security Cameras: Enhanced security with installed security cameras.

    Overview

    This Menominee County commercial building, constructed in 2022, features 4,000 square feet and a 6-inch concrete slab. Half of the building is configured with eight 10x20 storage units, currently rented for $75 per month, and three 10x10 units rented for $40 per month. One of the 10x10 storage units is utilized as an office. The remaining half of the 40x100 building consists of a 20x100 garage, featuring insulated walls and 12x12 foot garage doors at both ends. The property offers potential for conversion into additional storage units. Access is available from both M-35 and Rangeline Drive. The building has stick-built construction, a steel roof and exterior, natural gas on site, gravel parking, and security cameras.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Menominee
    County
    Menominee
    State
    Michigan
    Longitude
    -87.6383
    Latitude
    45.1882

    Nearby Similar for Sale

    • $2,450,000
      4,540 SF

      Medical Office Space For Sale

      Long-term leased medical office space near major employer.
      2408 10th St, Menominee, MI 49858
      View Details
    • $1,500,000
      50,000 SF

      Menominee Industrial Property For Sale

      Versatile industrial property in Menominee, suitable for various industrial uses.
      1717 10th Ave, Menominee, MI
      View Details
    • $3,900,000
      5,080 SF

      Freestanding Retail Building in Menominee

      5,080 SF retail building on 1.65 AC available for sale.
      3101 10th St, Menominee, MI 49858
      View Details
    • $2,450,000
      4,540 SF

      Retail/Office Property For Sale

      Retail and office property with long-term lease and high cap.
      2408 10th St, Menominee, MI 49858
      View Details
    • $99,500
      4,128 SF

      Historical Office Building in Menominee

      Historical building in downtown Menominee with office and workspace.
      125 6th Avenue, MENOMINEE, MI, 49858
      View Details
    • $275,000

      Versatile Building on Large Land

      Church building with classrooms, gym, kitchen, and ample parking.
      511 47th Avenue, MENOMINEE, MI, 49858
      View Details
    • $8,566,000
      74,266 SF

      NNN Leased Grocery Store

      NNN leased grocery store with 10-year remaining term.
      1207-1401 8th Ave, Menominee, MI
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Commercial building with storage units, built in 2022.
    Where is this self storage facility located?
    The property is located at N1864 RANGELINE Drive Menominee, MI.
    What is the asking price?
    The asking price for this property is $189,900.
    What are key features of this property?
    This property features: Built in 2022: Enjoy modern construction and minimal deferred maintenance.; Income‑Generating Storage Units: Benefit from existing rental income.; Conversion Potential: Easily transitioned into more storage units for increased revenue.
    (715) 587-0126
    We can help!
    Listing Contact
    Francine Kitkowski
    Real Estate License ID: 90-49928
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    N1864 RANGELINE Drive, MENOMINEE, MI 49858
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!