1120 Us-31 N, Pellston, MI 49769
- $1,750,000
- 17,560
- SqFt
- List Price
- $1,750,000
- Status
- ACTIVE
- MLS#
- 80073333
- Days on Market
- 23
- Year Built
- 2023
- Acres
- 5
- Living Area
- 17,560
- Municipality
- McKinley Twp
- Region
- Mckinley Twp
- Township
- Mckinley Twp
- Subdivision
- Metes And Bounds
Property Description
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!
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Additional Information
- Lot Dimensions
- 400 x 560
- Heating
- Wall Furnace
- Cooling
- Wall/Window Unit(s)
- Sewer
- Septic Tank
- Foundation
- Slab
- Water
- Private Well
Mortgage Calculator
Listing Courtesy of Coldwell Banker Schmidt Traverse City, Office Phone:
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.Copyright 2014 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2014 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.