Explore Top Commercial Real Estate Opportunities in Honor, MI

Honor, MI Commercial Real Estate for Sale and Lease

Honor, Michigan is a charming village located in the heart of Benzie County, known for its small-town warmth and easy access to outdoor adventure. Surrounded by pristine forests, rivers, and lakes, Honor offers a peaceful setting with year-round appeal. Locals and visitors alike enjoy proximity to Sleeping Bear Dunes, Crystal Lake, and the Platte River, making it an ideal destination for nature lovers and recreation enthusiasts.

Despite its modest size, Honor boasts a growing business community supported by tourism, local agriculture, and family-owned shops. With its location along US-31, the village provides excellent visibility and access for commercial development. Whether you're investing in retail, hospitality, or service-based businesses, Honor delivers a unique mix of opportunity, community support, and scenic Northern Michigan beauty.

Real Estate Statistics

Average Price	$1.1M
Lowest Price	$1.1M
Highest Price	$1.1M
Total Listings	1
Avg. Days On Market	3
Avg. Price/SQFT	$92

Property Types (active listings)

Browse Honor, MI Commercial Real Estate for Sale and Lease

• All Listings
• Over $1,000,000

Bedrooms

Bathrooms

Price Range

Save Search

Sort by:

Price, high to low

New

$1,100,000

10625 Main Street, Honor

0 Beds 2 Baths 12,000 SqFt Commercial MLS® # 1933039

Honor, MI Commercial Real Estate for Sale and Lease: Discover 21 Essential Insights for Investors

Introduction to Honor, MI

Nestled in Benzie County, Honor, MI is a picturesque village with big potential for commercial real estate investors. Although small in size, it offers a surprisingly dynamic marketplace for entrepreneurs and property developers. Honor sits amid Michigan’s thriving northwest corridor, known for its tourism, recreational beauty, and growing year-round population.

Whether you’re looking to expand your portfolio with commercial properties for sale or prefer flexible lease opportunities, Honor is a hidden gem that offers both affordability and access to a loyal local and tourist customer base.

Location Overview and Map

Honor lies along US-31, just minutes from Sleeping Bear Dunes National Lakeshore and Crystal Lake. This prime location offers convenience for businesses dependent on foot traffic, as well as logistical ease for distribution or service-oriented operations. Close proximity to Traverse City provides access to regional business networks and transportation hubs.

Honor’s Historical and Economic Roots

Originally a logging and farming community, Honor has transformed into a tourism-driven town with year-round business activity. The Cherry Bowl Drive-In Theater and the Platte River draw in visitors during the summer, while winter brings snowmobilers and outdoor enthusiasts. This steady influx of seasonal guests creates ideal conditions for commercial growth.

Why Invest in Honor, MI Commercial Real Estate

Growing Local Economy

Despite its small footprint, Honor boasts a stable economic base. Businesses catering to recreation, retail, and hospitality are especially popular, benefiting from local demand and seasonal booms.

Community Development Initiatives

Benzie County has seen increased funding for infrastructure improvements and small business grants. These development initiatives support new construction and redevelopment projects, making it easier to invest in a property with future upside.

Business-Friendly Climate

From minimal zoning red tape to access to local chambers of commerce, Honor maintains a supportive environment for commercial expansion. Entrepreneurs often cite ease of permitting and approachable city officials as key advantages.

Types of Commercial Properties Available

Retail Spaces

High-visibility storefronts along US-31 are ideal for boutiques, service providers, or convenience stores. These properties offer flexible layouts and are often situated near residential areas or parks.

Office Buildings

While Honor isn’t a metro area, remote work has changed the game. Demand for professional office space, co-working hubs, and medical services is climbing.

Industrial and Warehouse Facilities

Small-scale manufacturing and warehousing sites offer ample square footage at prices far lower than in Traverse City or Grand Rapids. These are great for e-commerce storage or trades-based businesses.

Hospitality and Tourism Properties

Think cabins, inns, RV parks, or even turnkey restaurants. Honor’s location near popular outdoor destinations makes hospitality properties extremely attractive to investors.

For Sale vs. For Lease: What's Right for You?

Pros and Cons of Buying

Pros:

• Build long-term equity

• Greater control over property use

• Potential for appreciation and resale profit

Cons:

• Higher upfront investment

• Responsibility for maintenance and upgrades

Pros and Cons of Leasing

Pros:

• Lower initial costs

• Flexibility in location and scaling

• Minimal repair responsibilities

Cons:

• No equity or appreciation benefits

• Dependence on landlord policies

Investment Return Considerations

Purchasing allows for passive income through tenant leasing or business occupancy. Leasing, on the other hand, is ideal for entrepreneurs seeking speed to market with minimal capital outlay. Each approach can be profitable—it depends on your business plan and financial goals.

Top Neighborhoods and Corridors for Commercial Development

Downtown Honor

A quaint and walkable district, downtown Honor is perfect for small retail shops, coffee houses, and local service providers. It offers a close-knit community vibe and good pedestrian access.

US-31 Commercial Corridor

This high-traffic area is a prime spot for restaurants, gas stations, or strip malls. It’s the most visible commercial zone and sees a high daily traffic count year-round.

Crystal River and Recreational Zones

These areas attract nature-loving tourists and vacationers. Lodging businesses, outfitters, or recreational services like kayak rentals thrive here.

Market Trends and Forecasts

Current Pricing Snapshot

As of mid-2025, commercial land parcels in Honor range from $30,000 to $200,000 depending on zoning and proximity to major roads. Leases are highly competitive, often under $1 per square foot per month.

Historical Performance

Over the past five years, commercial property values have steadily appreciated, especially in areas near recreational destinations and highways. Rental income potential has also increased due to tourism and remote workforce trends.

5-Year Forecast

Honor is expected to continue growing modestly, with a projected 5-7% annual appreciation in commercial real estate. Local investment in broadband internet and infrastructure will likely drive demand for new business developments.

Zoning Laws and Development Regulations

Zoning Categories in Honor

Honor features a mix of general commercial, light industrial, and recreational business zoning. Flex zones allow for mixed-use buildings—ideal for combining retail, office, or short-term rental space.

Permit and Licensing Overview

Permits are issued by Benzie County, with fast turnaround times for small commercial renovations. Environmental and signage regulations are minimal compared to more urban locations.

Financing Your Honor Commercial Property

Loan Options and Requirements

Local banks and credit unions offer favorable terms for commercial loans. SBA 504 loans are also available for small business purchases, typically requiring 10% down.

Local and State Incentives

Michigan’s MEDC offers economic development grants, and Benzie County’s EDC supports job-creating developments with tax abatements or grant matching.

Investment Strategies and ROI Tips

Long-Term Leasing vs. Short-Term Rentals

Leasing out retail or office space provides stable, long-term income. However, short-term vacation rentals—especially near Crystal Lake—can generate higher seasonal returns.

Value-Add Improvements

Adding new signage, renovating interiors, or improving energy efficiency can increase property value and rent potential.

Triple Net Leasing (NNN) Explained

NNN leases shift operating costs to tenants, increasing owner ROI and reducing overhead risk. These are common in strip malls and stand-alone retail investments.

Working with a Commercial Real Estate Broker in Honor, MI

The Role of Local Expertise

Local brokers understand micro-markets, zoning quirks, and seasonal demand patterns. They’ll help you avoid costly missteps and uncover hidden gems.

Benefits of Partnering with Brook Walsh and BrookWalsh.com

Brook Walsh is a Northern Michigan commercial real estate expert with deep roots in the Honor community. His team at BrookWalsh.com offers white-glove service, data-driven insights, and local market access unmatched in the region.

Success Stories: Commercial Investments in Honor

Case Study: Retail Redevelopment

An outdated general store on US-31 was converted into a modern bakery and gift shop. After a $75,000 renovation, the property tripled in value and now enjoys high foot traffic from both locals and tourists.

Case Study: Hospitality Expansion

A local lodge near the Platte River expanded from 4 to 12 rooms with financing support and smart marketing. Its occupancy rate climbed from 55% to 90% during peak months.

Environmental and Sustainability Considerations

Green Building Practices

Sustainable features like solar panels and energy-efficient lighting not only reduce operational costs but also attract eco-conscious travelers and tenants.

LEED Certification and Tax Benefits

LEED-certified properties qualify for significant state and federal tax breaks. These incentives can offset build-out costs for developers pursuing sustainable projects.

Local Business Environment

Major Employers and Anchors

Local schools, outdoor outfitters, and health services make up a stable employment base. Cherry Bowl Drive-In and nearby resorts serve as major traffic drivers.

Honor Area Chamber of Commerce Initiatives

The chamber supports local businesses through promotional events, economic research, and networking mixers—ideal for new investors looking to plug in.

FAQs About Honor, MI Commercial Real Estate

1. Is Honor, MI good for commercial property investments?

A. Yes. It offers affordable prices, strong seasonal demand, and access to nature-based tourism—all excellent for investment.

2. What are typical property sizes?

A. Retail spaces range from 800–5,000 sq. ft., while warehouse properties can exceed 10,000 sq. ft.

3. Can I convert residential to commercial use?

A. Sometimes. You’ll need rezoning approval from Benzie County, which is often granted if adjacent properties are commercial.

4. What’s the average lease rate?

A. Rates range from $0.80 to $1.20 per square foot depending on location, utilities, and building condition.

5. Are there grants available for new businesses?

A. Yes. Benzie County and the State of Michigan offer grants and incentives for qualifying business projects.

6. How long does it take to close on a commercial property in Honor?

A. Most deals close within 30–60 days, assuming financing and inspections are handled promptly.

Conclusion: Your Next Steps to Investing in Honor, MI

Whether you're a first-time investor or a seasoned entrepreneur, commercial real estate in Honor, MI offers the perfect mix of opportunity and value. From retail storefronts to warehouse facilities, Honor's diverse property options allow for smart, scalable investments.

The town's supportive environment, low cost of entry, and access to natural attractions make it one of the best-kept secrets in Michigan’s real estate market.

Ready to take the next step? Partner with Brook Walsh and BrookWalsh.com to unlock exclusive listings, expert guidance, and successful investment strategies tailored to the Honor market.

External Resources and Contact Links

• BrookWalsh.com – Northern Michigan Real Estate Experts

• Michigan Economic Development Corporation

• Honor Area Chamber of Commerce

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