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4987 Loeb Rd
Charlevoix, MI 49720
Office Property For Sale
Investment Highlights
- Historic Stone School house
- Space to add 1-3 more units
- 7 Multifamily Units
Executive Summary
Rare Charlevoix Opportunity!!! Amazing Historic Stone Schoolhouse plus a Carriage House and Duplex, renovated by artistic craftsman into 7 existing rental homes. There largest portion of the stone schoolhouse with sunrise views, renovation started for a 1 bedroom loft unit. The lower level of the school house - nearly 3,500 sq ft can be used for storage or other recreational (artist studio, workshop, gym) purposes. Whether you want to move up north and have rental income to support your dream lifestyle or own a piece of historic Charlevoix, do not miss this.
Built in 1919 by German stone masons for the Loeb Family (of Castle Farms fame). This cut stone workmanship is a must see.
Built in 1919 by German stone masons for the Loeb Family (of Castle Farms fame). This cut stone workmanship is a must see.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
9,750 SF
Building Class
A
Year Built/Renovated
1917/2025
Price
$1,495,000
Price Per SF
$153.33
Cap Rate
6.59%
NOI
$98,500
Percent Leased
64%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,875 SF
Building FAR
0.22
Lot Size
1.00 AC
Zoning
FLEXIBLE - Multifamily approved.
Parking
10 Spaces (1.02 Spaces per 1,000 SF Leased)
Amenities
- Smoke Detector
Property Taxes
| Parcel Number | 00901100810 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $105,600 |
Property Taxes
Parcel Number
00901100810
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$105,600
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