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    The Largest CRE Database in the US with Over 1 Million Listings

    105 W M35 Gwinn, MI 49841

    Sponsored
    For Sale
    $625,000

    Investment,Office - Gwinn, MI

    Property size:
    15,010 SF
    Lot size:
    1.10 Acres
    Days on Market:
    240
    Last Refresh:
    Jan 30 at 4:06 am

    Property Features for 105 W M35

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    Commercial
    APN
    52-05-121-059-00
    Parking features
    Parking Lot
    Interior features
    110 Volt Power, 220 Volt Power, Additional Bldg(s), Bath, Cable Internet Installed, Cable TV Available, Cafe/Kitchen, Clear Span, Concrete Floor, Internet Available, Delivery Area, Delivery Door, Display Window, Drive-In, Fixtures, Gas Available, Meeting Rooms, Outside Storage, Pole Sign, Private Restrooms, Public Restrooms, Reception Area, Restroom(s), Roof Sign, Showroom, Telephone, Truck Door(s)
    Exterior features
    Additional Bldg(s), Outside Storage
    Size
    15,010 SF
    Lot size
    1.10 Acres

    Utilities

    Utilities
    Cable Available, Phone Available
    Heating system
    Forced Air

    Building Details

    Year built
    1965
    Flooring type
    Concrete
    Roof type
    Rubber
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    BRIAN OLSON

    Northern Michigan Land Brokers (906) 225-5263

    Listing agent BRIAN OLSON (906) 225-5263

    Listing date Jun 5, 2025

    MLS# 50177229 Listing URL

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Spacious Commercial Building on M35

    This spacious commercial building offers over 15,000 square feet of retail and storage space. Situated on a large commercial lot in the downtown area, the property provides ample parking for customers and employees. The building features a bright showroom with new LED energy-efficient lights, offices, and a heated area suitable for a workshop or heated storage. A massive cold storage area with tall ceilings and extensive floor and elevated storage space is located at the back of the building, providing an efficient shipping and receiving area for trucks. The property is adjacent to the township's baseball fields and ice race track, which host many well-attended events throughout the year, and is located behind the groomed Snowmobile and ATV trail. A new $100,000 rubber commercial roof has been installed, and a new water heater services the restrooms and sinks in the offices. The location is surrounded by established businesses and is across from the high school. The property is located in Gwinn, MI. The building could be used for a sporting goods or recreational vehicle sales and service business, a craft brewery, a CO-OP featuring local artists along with farmers, physical therapy or sports training, food services, car sales, technology centers, home builders and specialty shops. The property includes his and hers restrooms.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Gwinn
    County
    Marquette
    State
    Michigan
    Longitude
    -87.434869
    Latitude
    46.277136

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    FAQs

    What type of property is this?
    Retail space - Large retail and storage space on a bustling street.
    Where is this retail space located?
    The property is located at 105 W M35 Gwinn, MI.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: - High-traffic location on M35 with 3,000 cars passing daily, ensuring excellent visibility.; - Spacious 15,000+ sq ft commercial building featuring a large showroom, offices, and massive cold storage area.; - Large commercial lot with ample parking for customers and employees.
    (906) 869-6446
    Request Owner's contact information
    105 W M35 Gwinn, MI 49841
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    Gwinn, MI 49841
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    105 W M35 Gwinn, MI 49841
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    We can help!
    Listing Contact
    BRIAN OLSON
    Real Estate License ID: UPAR
    (906) 869-6446
    Learn more
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