Discover 15 Prime Commercial Real Estate Opportunities in Boyne City, MI

Boyne City, MI Commercial Real Estate for Sale and Lease

From above, you can see Boyne City’s charming commercial district hugging the shoreline of Lake Charlevoix, where rows of historic brick storefronts give way to a bustling marina dotted with sailboats and docks. Tree-lined sidewalks and pocket parks weave between buildings, creating inviting spots for lakeside strolls and outdoor dining.

Beyond the waterfront, the mix of modern offices and renovated lofts reflects a seamless blend of small-town heritage and contemporary growth. This bird’s-eye view highlights the town’s walkable layout, green spaces, and the close-knit community spirit that makes Boyne City a standout destination.

Real Estate Statistics

Average Price	$668K
Lowest Price	$80K
Highest Price	$1.5M
Total Listings	4
Avg. Price/SQFT	$101

Property Types (active listings)

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$1,499,000

5 W Main Street, Boyne City

0 Beds 9 Baths 10,560 SqFt Commercial MLS® # 475354

$599,000

↓ $50,000

1249 M-75, Boyne City

0 Beds 2 Baths 3,808 SqFt Commercial MLS® # 475838

$495,000

615 Beardsley Street, Boyne City

0 Beds 3 Baths 5,000 SqFt Commercial MLS® # 477770

$80,000

890 Pleasant Vally Rd Road, Boyne City

0 Beds 0 Baths 16,000 SqFt Commercial MLS® # 477249

Boyne City, MI Commercial Real Estate for Sale and Lease: 15 Unbeatable Opportunities

Explore Boyne City’s dynamic commercial property market with expert insights, financing tips, and top listings for sale or lease.

Introduction

Investing in Boyne City, MI Commercial Real Estate for Sale and Lease is an opportunity you don’t want to miss. Nestled on the shores of Lake Charlevoix, Boyne City combines small-town charm with a thriving local economy.

Whether you’re an experienced investor or just testing the waters, Boyne City’s commercial property scene promises a healthy mix of retail, office, industrial, and mixed-use options. In this guide, we’ll dive deep into market dynamics, top neighborhoods, property types, financing strategies, and more—so you can hit the ground running and make informed decisions that align with your business goals and budget.

Market Overview of Boyne City, MI Commercial Real Estate for Sale and Lease

Current Economic Drivers

Boyne City’s economy has seen steady growth over the past decade, driven by tourism, light manufacturing, and a burgeoning tech and service sector. Thanks to its prime waterfront location, the city draws thousands of visitors each year. That influx supports restaurants, boutiques, and lodging businesses—making retail and hospitality spaces particularly attractive investments. Moreover, Boyne City’s strategic proximity to I-75 provides easy access to Detroit, Grand Rapids, and Traverse City, enhancing its appeal as a regional commercial hub.

Key economic highlights include:

• Tourism Revenue Growth: Visitor spending has increased by an average of 5% annually over the past five years, bolstering demand for retail and hospitality venues.

• Small-Business Support: Local incentives—including Façade Improvement Grants and Tax Abatement Programs—encourage entrepreneurs to revitalize downtown storefronts.

• Diversification Efforts: Recent initiatives aim to attract tech startups and light manufacturing, creating demand for office and industrial facilities.

Recent Commercial Real Estate Trends

In recent years, Boyne City’s commercial real estate market has adjusted to evolving tenant needs:

1. Mixed-Use Redevelopments: Several historic buildings along Water Street have been converted into live–work spaces, blending residential units with ground-floor retail.

2. Adaptive Reuse of Industrial Sites: Old warehouse buildings are being repurposed into event venues, co-working hubs, and artisanal workshops.

3. Flexible Office Solutions: Shared office and co-working spaces have emerged to serve startups, remote workers, and satellite operations for larger firms.

4. Green and Sustainable Design: New construction projects increasingly integrate energy-efficient features—solar panels, green roofs, and LEED certification—to meet tenant demand and qualify for incentive programs.

With vacancy rates hovering around 7%—below the national average of 9.3%—and rental rates rising by approximately 3% annually, the indicators are clear: Boyne City’s commercial real estate market is healthy, competitive, and primed for growth.

Top Neighborhoods and Commercial Zones

Downtown Boyne City – Main Street District

Downtown Boyne City is the city’s beating heart, where historic charm meets modern commerce. This district features:

• Boutique Retail: Quaint shops selling artisan goods, gifts, and locally produced foods.

• Dining Destinations: A mix of gastropubs, coffee houses, and lakeside cafes.

• Office Suites: Professional services—law firms, real estate agencies, and creative studios—occupy renovated second-floor spaces.

Retail and Office Mix

The Main Street District offers a balanced retail-office environment. Property sizes range from 800 to 3,000 sq. ft., catering to startups, boutiques, and professional practices. Landlords often provide turnkey lease agreements, including basic utilities and maintenance.

Lakeside Business Park

Located just north of downtown, Lakeside Business Park is a modern development designed for:

• Light Manufacturing: Automated facilities, assembly lines, and fabrication shops.

• Warehouse Distribution: Easy loading docks with direct highway access.

• Professional Office Buildings: Single-tenant and multi-tenant structures with high-speed fiber connectivity.

Tenants benefit from generous parking, 24/7 security, and proximity to the lakefront’s recreational amenities—ideal for companies that want a work–life balance.

Industrial Corridor

Stretching along South Lake Street, the Industrial Corridor accommodates:

• Heavy Equipment Storage: Open lots and enclosed sheds for contractors and landscapers.

• Auto Repair and Service Centers: High-ceiling bays and lift systems.

• Logistics Hubs: Regional distribution centers leveraging Boyne City’s access routes.

Available parcels in this zone can range from 0.5 to 5 acres, offering flexibility for expansion.

Types of Commercial Properties

Navigating Boyne City, MI Commercial Real Estate for Sale and Lease means understanding the property types that best suit your objectives.

Retail Spaces

Retail properties in Boyne City include storefronts, shopping centers, and standalone buildings. Typical metrics:

Office Buildings

From small executive suites to multi-tenant complexes, office properties cater to accountants, legal practices, tech firms, and co-working operators. Lease rates typically fall between $14 and $22 per sq. ft., with NNN or full-service options available.

Industrial and Warehouse Facilities

Industrial spaces range from 5,000 to over 50,000 sq. ft., featuring high ceilings, loading docks, and heavy-power access. Lease rates average $8–$12 psf for warehouse and $10–$14 psf for light manufacturing.

Mixed-Use Developments

Increasingly popular, mixed-use properties blend retail or office on the ground floor with residential units above. These developments offer diversified income streams and appeal to urban-style living and working. Typical lease structures combine retail rates with market-rate residential rents.

Investment Strategies and Financing Considerations

Evaluating Return on Investment (ROI)

When assessing a Boyne City commercial property, consider:

• Net Operating Income (NOI): Subtract operating expenses from gross rental income.

• Cap Rate: Divide NOI by the property’s purchase price. Cap rates in Boyne City range from 6% for trophy assets to 8.5% for value-add opportunities.

• Cash-On-Cash Return: Compare annual pre-tax cash flow to total cash invested.

Financing Options for Buyers

Buyers can tap into various financing avenues:

1. SBA 7(a) Loans: Favorable terms for owner-occupied properties up to 10,000 sq. ft.

2. Conventional Commercial Mortgages: 20–25 year amortizations with 20–30% down.

3. Bridge Loans: Short-term financing for value-add or ground-up developments.

4. Local Bond Programs: Tax-exempt bonds for projects that generate public benefits.

Lease Structures and Terms

Commercial leases in Boyne City commonly include:

• Triple Net (NNN): Tenant pays base rent plus property taxes, insurance, and maintenance.

• Modified Gross: Landlord and tenant share operating costs per agreed proportions.

• Full Service: Landlord covers all expenses, factoring costs into the rent.

Negotiate favorable renewal options, tenant improvement (TI) allowances, and co-tenancy clauses to protect your investment.

Legal and Zoning Considerations

Before you buy or lease, verify:

• Zoning Classification: Confirm permitted uses via the City of Boyne City Official Website.

• Environmental Reports: Phase I and II assessments for brownfield sites.

• Easements and Covenants: Utility corridors, signage restrictions, and shared-use pathways.

• ADA Compliance: Accessibility requirements for public buildings.

Working with Commercial Brokers

Engaging a local broker can save time and reduce risk. Look for professionals who:

• Are members of the CCIM Institute or SIOR.

• Have deep market knowledge and access to off-market listings.

• Provide transaction management—from LOI to closing.

• Offer property management referrals to keep your asset performing.

FAQs

1. What’s the average cap rate for commercial properties in Boyne City?
Cap rates typically range from 6% for prime downtown assets to around 8.5% for properties needing renovation or lease-up.

2. How do I find off-market commercial listings?
Connecting with local brokers, joining the Boyne City Chamber of Commerce, and networking at community events can uncover off-market opportunities.

3. Are there incentives for historic building renovations?
Yes. Federal and state historic tax credits, plus local façade grants, can cover up to 20–40% of qualified renovation costs.

4. What financing is available for mixed-use developments?
Developers often combine construction loans with permanent financing, using SBA CDC/504 or conventional loans once stabilized.

5. Can I lease a portion of an industrial building?
Absolutely. Many landlords will subdivide larger warehouses into smaller bays, with flexible square footage and shared common areas.

6. How long does it take to close on a commercial deal?
Typical timelines range from 60 to 90 days, depending on financing complexity, due diligence, and local municipal approvals.

Conclusion

Boyne City, MI Commercial Real Estate for Sale and Lease offers a vibrant mix of opportunities for investors and business owners alike. From the historic charm of downtown storefronts to modern industrial parks, the city’s market delivers competitive cap rates, growing rental rates, and supportive local incentives. By understanding market trends, exploring key neighborhoods, evaluating the right property types, and securing favorable financing, you’ll be well-positioned to capitalize on Boyne City’s growth trajectory. Ready to take the next step? Connect with a trusted broker, tour prime listings, and dive into one of Northern Michigan’s most dynamic commercial markets.

Continue your Northern Michigan commercial real estate search in the communities below or contact Brook Walsh to help you with your search.