Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    230 Huron St Grayling, MI 49738-1993

    • Warehouses
    • 15,196 SF
    • 2.54 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3308388
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 230 Huron St

    Year built
    1968
    Lot size
    2.54 lot acres
    Property size
    15,196 SF
    Zone code
    C-3B
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    070-017-006-040-01
    APU
    7001700604001

    Description

    This exceptional Grayling, MI investment opportunity encompasses three buildings totaling 15,947 square feet on a highly visible 230 Huron St. location. Building 1, the largest at 8,760 square feet, offers a versatile layout including 23 offices, a sizable conference room, and ample space for cubicles, ideal for executive office space. Building 2, situated at the rear, is currently configured as 24 storage units, a mix of 5 smaller units at the front and 19 larger units with convenient garage doors. Building 3 provides a single, expansive 3,773-square-foot area, ready for customization. The property benefits from a prime location near a busy intersection with over 6,300 estimated daily vehicle counts (CARS 2022), presenting strong rental income potential. Recent building improvements include the replacement of four furnaces, a furnace/AC unit, and a heat pump. Built in 1980, this property presents a blank canvas for new owners, offering diverse income streams and significant upside potential. The current owner is retiring and seeking a buyer for this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grayling
    County
    Crawford
    State
    Michigan
    Longitude
    -84.7063
    Latitude
    44.6558

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,820
    $49,700
    $249,800
    $299,500
    -
    $99,400
    $499,600
    $599,000

    Comparable in this City

    • Value Estimation
      $295,000
      10,600 SF

      884 Isenhauer Rd

      MINI-WAREHOUSE, STORAGE • 10,600 SF
      884 Isenhauer Rd, Grayling, MI 49738
      View Details
    • Value Estimation
      $295,000
      7,000 SF

      4786 Wn Down Riv Rd

      MINI-WAREHOUSE, STORAGE • 7,000 SF
      4786 Wn Down Riv Rd, Grayling, MI 49738-8288
      View Details
    • Value Estimation
      $985,000
      46,290 SF

      5671 M 72nd Hwy

      MINI-WAREHOUSE, STORAGE • 46,290 SF
      5671 M 72nd Hwy, Grayling, MI 49738
      View Details
    • Value Estimation
      $295,000
      3,600 SF

      10 I 75th Business Loop

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      10 I 75th Business Loop, Grayling, MI 49738-6736
      View Details
    • Value Estimation
      $285,000
      3,200 SF

      3006 Industrial Dr

      MINI-WAREHOUSE, STORAGE • 3,200 SF
      3006 Industrial Dr, Grayling, MI 49738
      View Details
    • Value Estimation
      $335,000
      10,400 SF

      2554 Industrial Dr

      MINI-WAREHOUSE, STORAGE • 10,400 SF
      2554 Industrial Dr, Grayling, MI 49738-7089
      View Details

    Similar Nearby for Sale

    • $1,400,000
      46,820 SF

      Industrial Building Near I-75

      High-quality industrial building on 8.5 acres near I-75.
      758 Isenhauer Rd, Grayling, MI 49738
      View Details
    • $2,999,000
      46,820 SF

      Prime Grayling Industrial Facility

      8.5-Acre Manufacturing Plant - Vacant
      758 Isenhauer Rd, Grayling, MI 49738
      View Details
    • $499,000
      5,200 SF

      Grayling Restaurant & Bar For Sale

      Established Entertainment Venue, High-Grossing Potential
      6811 M 72 Hwy, Grayling, MI 49738
      View Details
    • $2,790,000
      46,820 SF

      Grayling Industrial Facility - 46,820 SF

      Prime I-75 location, 8.55 acres, high-quality industrial building.
      758 Isenhauer Rd, Grayling, MI 49738
      View Details
    • $850,000
      10,240 SF

      Grayling Motel: I-75 Business Loop

      Established Motel, 21 Units, 4.83 Acres
      1024 I 75 Business Loop, Grayling, MI 49738
      View Details
    • $484,000

      Grayling Commercial Land - I-75

      Prime I-75 frontage, buildable lot.
      I-75 Business Loop, Grayling, MI 49738
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      46,820 SF

      Grayling Industrial Building Near I-75

      High-quality industrial building near I-75 in Grayling, Michigan.
      758 Isenhauer Rd, Grayling, MI 49738
      View Details
    • $5 SF/Yr
      46,820 SF

      Grayling Industrial Property For Lease

      8.5-acre manufacturing plant, 46,820 sq ft.
      758 Isenhauer Rd, Grayling, MI 49738
      View Details
    • $7 SF/Yr

      Industrial Land Near Arauco

      40+ acres for particleboard distribution, manufacturing, and production.
      4623 Young Rd, Grayling, MI 49738
      View Details
    • Contact for pricing
      6,657 SF

      Grayling Retail Center Opportunity

      Prime Grayling retail space, multiple units available.
      201 Ionia St, Grayling, MI 49738
      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.
    230 Huron St
    Grayling, MI 49738-1993
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.