Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3320 Us-31 Manistee, MI 49660
    Back to Search
    Property profile & analytics

    3320 Us-31, Manistee, MI 49660

    View on Map
    • Warehouses
    • 11,400 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 3320 Us-31

    Year built
    1968
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 11,400-square-foot industrial property, situated on a spacious 5.02-acre lot, presents a unique investment opportunity. The property, formerly a semi-truck and trailer service facility, boasts two single-story buildings totaling 11,400 square feet, all currently vacant. Built in 1968 and extensively renovated in 2022, the property features a 16-foot ceiling height, three drive-in doors, and robust 240/3-phase power, making it ideal for a variety of manufacturing or warehousing operations. The extensive renovations included a complete exterior repainting and landscaping upgrade. Interior improvements are equally impressive, encompassing upgraded offices, new lighting fixtures throughout, a newly constructed restroom, a dedicated employee break area, and a brand-new HVAC system in the office space. The expansive lot includes a large concrete-paved yard, perfect for trailer parking and outdoor storage, adding significant operational flexibility. The property is zoned AG/RES, offering potential for various uses. This turnkey facility is ready for immediate occupancy, offering a rare combination of size, functionality, and recent upgrades in a desirable location. The property's history as a well-maintained service facility speaks to its structural integrity and suitability for demanding industrial applications. This is a prime opportunity to acquire a fully renovated, ready-to-use industrial space with ample outdoor area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Manistee
    County
    Manistee
    State
    Michigan
    Longitude
    -86.3056
    Latitude
    44.2008

    Comparable in this City

    • Value Estimation by Request
      11,400 SF

      3320 Us-31

      Manufacturing properties
      3320 Us-31, Manistee, MI 49660
      View Details
    • Value Estimation by Request

      1586 Us-31

      Flex space
      1586 Us-31, Manistee, MI 49660
      View Details
    • Value Estimation by Request
      5.00 Acres

      Manistee, MI 49660

      INDUSTRIAL (GENERAL)
      Manistee, MI 49660
      View Details
    • Value Estimation by Request
      5.00 Acres

      Manistee, MI 49660

      INDUSTRIAL (GENERAL)
      Manistee, MI 49660
      View Details
    • Value Estimation by Request

      Manistee, MI 49660

      INDUSTRIAL (GENERAL)
      Manistee, MI 49660
      View Details
    • Value Estimation by Request
      4.70 Acres

      Manistee, MI 49660

      INDUSTRIAL (GENERAL)
      Manistee, MI 49660
      View Details

    Similar Nearby for Sale

    • $132,000
      40.00 Acres

      Manistee Commercial Land Opportunity

      40 acres of commercially zoned land in high-traffic area.
      40 Acres M-55, Manistee, MI 49660
      View Details
    • New
      $429,900
      1,680 SF

      Versatile Commercial Property on US-31

      7.2 acres with high visibility, ideal for business or residential.
      10991 Us Highway 31, Manistee, MI 49660
      View Details
    • $499,000
      10,269 SF

      Versatile Commercial Property in Manistee

      Adaptable commercial space with warehouse, office, and income potential.
      156 8Th St, Manistee, MI 49660
      View Details
    • $425,000
      9,600 SF

      Manistee Commercial Building For Sale

      Well-maintained commercial building in Manistee with existing leases.
      84 Division St, Manistee, MI 49660
      View Details
    • Contact for pricing
      83,068 SF

      Turnkey Industrial Facility For Sale

      83,068 SF industrial facility with strategic US-31 access.
      330 Washington St, Manistee, MI 49660
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      15,000 SF

      Versatile Industrial Space in Manistee

      15,000 sq ft industrial space in revitalizing downtown Manistee.
      254 River St, Manistee, MI 49660
      View Details
    • $13 SF/Yr
      2,008 SF

      Downtown Manistee Retail Suite

      Versatile commercial space with river views and optional boat slips.
      308 River St, Manistee, MI 49660
      View Details
    • Contact for pricing
      7,952 SF

      Retail Space in Manistee, Michigan

      Retail property in Manistee, Michigan, near Lake Michigan.
      1361 Manistee Hwy Us 31 S, Manistee, MI 49660
      View Details
    • $11 SF/Yr
      7,434 SF

      Manistee Retail End-Cap Unit

      Retail space with high visibility and flexible tenant improvement options.
      113 Cypress St, Manistee, MI 49660
      View Details
    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.
    3320 Us-31
    Manistee, MI 49660
    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
    3320 Us-31, Manistee, MI, 49660
    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!