Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Benzonia, MI 49616

    • Industrial properties
    • 1,500 SF
    • 4.80 lot acres
    For Sale
    View listing
    $164,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details

    Year built
    2024
    Lot size
    4.80 lot acres
    Property size
    1,500 SF
    Property type
    Industrial properties

    Description

    This 1,500 sq ft industrial unit, situated on a 4.8-acre lot in Benzonia, MI, offers exceptional storage and maintenance capabilities. Located just five minutes from the Crystal Lake Boat Launch and within walking distance of Crystal Plaza shopping center and Memorial Park, this property provides convenient access to amenities. The unit boasts a 16-foot ceiling height, 14' x 14' insulated garage doors with LiftMaster side-mounted lift and keyless entry, and a protective steel-covered entrance. Heating is provided by a 100,000 BTU Reznor UDXC universal gas-fired heater, while superior insulation (R-19 NuWool Wallseal sprayed cellulose in walls and R-38 blown-in cellulose in trusses) ensures energy efficiency. The durable interior features white finished steel walls and a concrete slab floor with a floor drain, pressure relief cuts, and a 4-foot apron with bollards. Secured entry is facilitated by a keypad-accessed service door. The unit has its own PIN, tax, and utility bill. Restrictions on use and building specifications are available in the provided documents. There is still time to upgrade to air conditioning or epoxy flooring. This property presents a unique opportunity for secure and convenient storage solutions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Benzonia
    County
    Benzie
    State
    Michigan
    Longitude
    -86.1018
    Latitude
    44.6108

    Comparable in this City

    • Value Estimation by Request
      0.38 Acres

      7065 Hoadley Rd

      INDUSTRIAL (GENERAL) • 0.38 Acres
      7065 Hoadley Rd, Benzonia, MI 49616
      View Details
    • Value Estimation by Request
      1.24 Acres

      7027 Hoadley Rd

      INDUSTRIAL (GENERAL) • 1.24 Acres
      7027 Hoadley Rd, Benzonia, MI 49616
      View Details
    • Value Estimation by Request
      11.26 Acres

      2532 Benzie Hwy

      INDUSTRIAL (GENERAL) • 11.26 Acres
      2532 Benzie Hwy, Benzonia, MI 49616-9710
      View Details
    • Value Estimation by Request
      1.81 Acres

      7050 Cadillac Hwy

      INDUSTRIAL (GENERAL) • 1.81 Acres
      7050 Cadillac Hwy, Benzonia, MI 49616-9681
      View Details
    • Value Estimation by Request
      5,700 SF

      6613 Frankfort

      Industrial properties • 5,700 SF
      6613 Frankfort, Beulah, MI 49616
      View Details
    • Value Estimation by Request
      10.00 Acres

      7895 Wallaker Rd

      INDUSTRIAL (GENERAL) • 10.00 Acres
      7895 Wallaker Rd, Benzonia, MI 49616-9731
      View Details

    Similar Nearby for Sale

    • $164,900
      1,500 SF

      Benzonia Industrial Storage Unit

      Secure, spacious industrial unit near Crystal Lake.
      Benzonia, MI 49616
      View Details
    • $260,000
      1.09 Acres

      US-31 Benzonia Industrial Site

      High-Visibility Commercial Land, Investment Opportunity
      1388 Michigan Ave, Benzonia, MI 49616
      View Details
    • $115,000

      30x40 Storage Building For Sale

      Storage building near Crystal Lake and downtown shopping district.
      6803 Legend Ln, Benzonia, MI 49616
      View Details
    • $225,000

      Beulah Warehouse with Roll-Up Doors

      5700 sqft Beulah warehouse with village utilities and roll-up doors.
      6613 Frankfort Hwy, Benzonia, MI 49616
      View Details
    • $200,000
      3.00 Acres

      Benzonia Commercial Lots For Sale

      Three commercial lots totaling 3 acres in Benzonia, Michigan.
      5 6, Benzonia, MI 49616
      View Details
    • $50,000
      3.34 Acres

      Benzonia Commercial Land Opportunity

      3.34 Acres, Prime Location, $50,000
      00 Park, Benzonia, MI 49616
      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.
    Benzonia, MI 49616
    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

    Google sign-in failed. Please try again or use another login method.