195 M-66, Charlevoix, MI 49720
This exceptional 11,180 square foot industrial building presents a unique investment opportunity in Charlevoix, Michigan. Strategically located on 1.13 acres of land at 195 M-66 North, this former drug store boasts a prime location within the main retail center, anchored by a Family Fare Grocery Store. Its high visibility from the intersection of US 31 and M-66, boasting a combined average annual daily traffic count exceeding 27,930 vehicles, ensures significant exposure. The property offers convenient access and ample parking with 41 standard spaces and 2 accessible spaces. A key feature is the existing drive-thru window, adding versatility for a wide range of potential uses. The building's previous occupant generated $5.8 million in sales within the last year, demonstrating strong potential for future success. The property is situated just south of downtown Charlevoix, a vibrant area known for its proximity to Lake Michigan, Round Lake, Lake Charlevoix beaches, golf courses, and year-round attractions. This property is available for purchase at $1,699,000, and lease terms are negotiable. Contact us to discuss this exceptional opportunity further.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.