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Listed by Coldwell Banker Schmidt Traverse City
$1,750,000
Est. payment /mo
17,560 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Income
Listing Status Active
Purchase Type For Sale
Square Footage 17,560 sqft
Price per Sqft $99
MLS Listing ID 1950321
Year Built 2023
Lot Size 5.000 Acres
Acres 5.0
Property Sub-Type Income
Property Description
Terms Available*HIGHWAY CORRIDOR PORTFOLIO WITH AIRPORT EXPOSURE & MASSIVE BUILD-OUT UPSIDE: Priced at $1,750,000, this rare multi-asset 7.8% CAP RATE commercial portfolio delivers immediate diversified cash flow paired with a preapproved development segway for 440 additional fully approved storage units on 7 expansion pads. Positioned directly on a high-traffic 6266 AADT highway corridor, the property features unparalleled logistical visibility, sitting directly across from the Pellston Regional Airport on over 5 total acres and 400' of frontage-seamlessly abutting state land on the easterly line. The existing revenue stream is anchored by 110 self-storage units with prime highway frontage and an active, high-margin U-Haul Dealership Pick up and Drop off site that acts as a built-in customer acquisition engine. The sale includes an adjacent parcel featuring 2 rental homes generating an immediate $1,950 in monthly gross revenue ($23,400 annually), plus a high-visibility commercial pole building with offices, bathroom and commercial kitchen fixtures- currently leased to a business that plans to continue leasing. While enjoying this multi-stream income on day one, the incoming investor acquires a massive future development asset completely ready to break ground. Skip the risky, multi-year municipal zoning and approval process, capitalize instantly on the airport-adjacent location, and expand the existing storage footprint by 7 pads. Ideal for portfolio investors looking for stable, diversified yield paired with a permitted upside. Financial documents and fully engineered facility layout plans are available. Don't miss this generational chance to secure a cash-flowing asset today while building your real estate legacy tomorrow— step into an incredibly rewarding investment with endless potential!
Location
State MI
Interior
Heating Wall Furnace, Propane
Exterior
Waterfront Description Private
Roof Type Metal/Steel
Garage false
Building
Foundation Slab
Sewer Private Sewer
Water Private
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Kyle O'Grady
Team Leader, REALTOR® License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456