Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    105 W Water St Sault Sainte Marie, MI 49783

    Sponsored
    For Lease
    $1.00 SF/Yr

    Leasehold - Sault Ste Marie, MI

    Property size:
    415 SF
    Days on Market:
    212
    Last Refresh:
    Feb 5 at 7:06 am

    Property Features for 105 W Water St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    Pt. Of 051-143-160-00
    Parking features
    Assigned, Parking Lot
    Interior features
    Restroom
    Exterior features
    High Traffic Location, Landscaped, View
    Size
    415 SF

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Number of units
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    John Anderson

    Real Estate One Northern Properties (248) 802-0949

    Listing agent John Anderson, Assoc Broker (248) 802-0949 License #6502431999

    Listing date Jul 9, 2025

    MLS# 25-628 Listing URL

    Copyright © 2026 Eastern Upper Peninsula Board 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

    Overview

    Sault Ste Marie Office Space

    This property features four office spaces within a modern building situated at the corner of Ashmun and Water Street, directly across from the Army Corp of Engineers and the Locks project. The offices have a separate entrance and dedicated parking. The lease includes electric and heat, with access to a shared restroom. A pocket door separates the unit from the rest of the offices. The tenant is responsible for their own phone and internet. The property contains 415 square feet.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.346237
    Latitude
    46.501215

    Nearby Similar for Lease

    • $7 SF/Yr
      1,670 SF

      Endcap Retail Suite For Lease

      Endcap suite suitable for various businesses, especially breakfast/lunch cafe.
      3390 Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $7 SF/Yr
      1,911 SF

      Retail Space Near Best Mattress

      Retail space for lease, ideal for service or retail businesses.
      3358-b Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $7 SF/Yr
      1,130 SF

      Sault Ste Marie Retail Space

      Improved retail space with great lighting and floor plan.
      3390-b Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $7 SF/Yr
      13,662 SF

      Retail Space For Lease

      Retail space available in Sault Ste Marie, Michigan.
      3366 Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $7 SF/Yr
      3,000 SF

      Retail Space in Sault Ste

      Open concept retail space with visibility and loading door.
      3358-a Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $7 SF/Yr
      9,516 SF

      Retail Suite in Soo Plaza

      Retail space for lease in Sault Ste Marie, Michigan.
      3394 Business Spur, Sault Sainte Marie, MI 49783
      View Details
    • $1.00 SF/Yr
      540 SF

      Professional Corner Office Space Available

      Corner office space for lease with utilities included.
      2700-a Davitt St, Sault Sainte Marie, MI 49783
      View Details
    • $650 /Mo

      Salon Space in Historic Building

      Charming salon space in downtown Sault Ste Marie for rent.
      400/402 Ashmun St, Sault Sainte Marie, MI 49783
      View Details
    • $1.00 SF/Yr
      168 SF

      Downtown Sault Ste Marie Office

      Corner office in downtown Sault Ste Marie available for lease.
      105 W Water St, Sault Sainte Marie, MI 49783
      View Details
    • $1.00 SF/Yr
      168 SF

      Downtown Sault Ste Marie Office

      Professional office space available for lease in Sault Ste Marie.
      105 W Water St, Sault Sainte Marie, MI 49783
      View Details
    • $1.00 SF/Yr
      168 SF

      Downtown Sault Ste Marie Office

      Office space for lease in downtown Sault Ste Marie.
      105 W Water St, Sault Sainte Marie, MI 49783
      View Details

    FAQs

    What type of property is this?
    Office space - Four office spaces available for lease in Sault Ste Marie.
    Where is this office space located?
    The property is located at 105 W Water St Sault Sainte Marie, MI.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: - High traffic location directly across from Army Corp of Engineers and Locks project; - Includes electric and heat; - Dedicated parking
    (248) 802-0949
    Request Owner's contact information
    105 W Water St Sault Sainte Marie, MI 49783
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    105 W Water St
    Sault Sainte Marie, MI 49783
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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 Water St Sault Sainte Marie, MI 49783
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Anderson
    Real Estate License ID: 6502431999
    (248) 802-0949
    Learn more
    Google sign-in failed. Please try again or use another login method.