Flex Space with Two
For Sale
$325,000
110 S State Highway M553, Gwinn, MI 49841
COM/IND/BUS OPP, Gwinn, MI
Property Size4,352 SF
Lot Size2.58 Acres
Price / SF$74.68
Days on Market29
Property Features for 110 S State Highway M553
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Parking Lot, Off Street
Lot features
Bus Service Near Site
Subdivision
Forsyth Twp (52009)
Standard status
Active
Size
4,352 SF
Lot size
2.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3682
Utilities
Sewer type
Holding Tank
Heating system
Pellet Stove
Water source
Well
Building Details
Year built
2000
Roof type
Metal
Additional Structures
Second Garage
Listing Agency:
SELECT REALTY
(906) 228-2772
Listed By:
TRACY HENRIKSEN · License #327044
(906) 250-0051
Added: Sep 8
Changed: Sep 13
Last Checked: Oct 6 at 11:06AM
MLS# 50221106
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.
Investment Insights
Based on property information with market context.
This flex-space property includes two separate buildings designed for a combination of office, shop, warehouse, and storage functions. The primary building measures approximately 40' x 60' and includes a 14' overhead door, separate customer entrance, reception and check-in area with built-in counter, bathroom, pellet stove, insulation, and electric service. The balance of the building is configured as an open shop or warehouse area.
A second 32' x 56' metal storage building adds substantial enclosed storage, while an attached lean-to provides additional covered space. The open area between the structures accommodates movement of trucks and equipment. The property is zoned Commercial and fronts State Highway M-553 near the M-35 intersection, providing highway access and visibility. Additional site features include a parking lot, off-street parking, a well, a holding tank, and metal roofing. The buildings were constructed in 2000.
A second 32' x 56' metal storage building adds substantial enclosed storage, while an attached lean-to provides additional covered space. The open area between the structures accommodates movement of trucks and equipment. The property is zoned Commercial and fronts State Highway M-553 near the M-35 intersection, providing highway access and visibility. Additional site features include a parking lot, off-street parking, a well, a holding tank, and metal roofing. The buildings were constructed in 2000.
Key Highlights
- Two‑building flex property with office, shop, warehouse, and storage configurations
- Primary building measures approximately 40' x 60' with a 14' overhead door
- Separate reception and check‑in area includes a built‑in counter, bathroom, and pellet stove
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,655
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,100
$553.1K
Cap Rate 7%
$395,071
$395.1K
Cap Rate 9%
$307,278
$307.3K
Market Conditions
NOI Build-Up for 4,352 SF
Gross rent
$36.6K $8.40/SF
− Vacancy
−$4.0K −$0.92/SF
EGI
$32.5K $7.48/SF
− OpEx
−$4.9K −$1.12/SF
NOI
$27.7K $6.35/SF
Area
Marquette County, MI
Vacancy
11.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,100
Cap Rate 7%
$395,071
Cap Rate 9%
$307,278
Alternative Uses
Best Use
Flex RnD
$567.6K
$496.6K – $662.2K
NOI $39,730 @ 7.0% cap · market cap 12.22%
Second Best
Warehouse
$395.1K
$345.7K – $460.9K
NOI $27,655 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,721 @ 7.0% cap · market cap 27.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49841, MI
7,193
Population
3,847
Households
1.9
Avg Household Size
41
Median Age
24%
College-Educated
96%
High-School Grad
227.6 sq mi
ZIP Area
32
Density / Sq Mi
$61,337
Median Household Income
$34,437
Median Earnings
$731
Median Rent
$150,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial-zoned property combining customer-facing space, insulated shop area, and covered storage with highway access.
Where is this flex space located?
The property is located at 110 S State Highway M553 Gwinn, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑building flex property with office, shop, warehouse, and storage configurations; Primary building measures approximately 40' x 60' with a 14' overhead door; Separate reception and check‑in area includes a built‑in counter, bathroom, and pellet stove
