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7685 W Houghton Lake Dr - Two Bears Storage 30,000 SF Specialty Building Offered at $2,073,525 CAD at a 4.27% Cap Rate in Houghton Lake, MI 48629
Investment Highlights
- Very attractive yield projections upon stabilization of the second phase.
- Currently operated by “Mom and Pop” ownership with no formal advertising, presenting a clear opportunity to enhance revenue.
- Ownership recently spent over $20,000 on LED customizable signage at the entrance of the property.
- Strategically located adjacent to Michigan’s largest inland lake, benefiting from sustained demand driven by vacationers and second-home owners.
- Approximately 5 acres of remaining land with approved plans for an additional ±16,000 net rentable square feet of self-storage or Boat & RV parking.
Executive Summary
Broker of Record
Matthew Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matthew Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $2,073,525 CAD | Building Class | C |
| Price Per SF | $69.12 CAD | Lot Size | 9.00 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 4.27% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 2021/2023 |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Price | $2,073,525 CAD |
| Price Per SF | $69.12 CAD |
| Sale Type | Investment |
| Cap Rate | 4.27% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 9.00 AC |
| Building Size | 30,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2021/2023 |
| Opportunity Zone |
Yes |
Amenities
- Controlled Access
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 011-203-016-0155 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $299,279 CAD |
Property Taxes
Parcel Number
011-203-016-0155
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$299,279 CAD
Contacts
-
Campbell Watkins -
Hunter Reynolds -
Austin McLeod -
Matthews Real Estate Investment Services
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7685 W Houghton Lake Dr - Two Bears Storage
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