Updated Office Building with Conference
126 Woodward Avenue Iron Mountain, MI 49801
126 Woodward Avenue, Iron Mountain, MI, 49801
$519,900
For Sale
$519,900
COMMERCIAL - Iron Mountain, MI
Property Size2,640 SF
Lot Size0.63 Acres
Price / SF$196.93
Days on Market139
Property Features for 126 Woodward Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- Size
- 2,640 SF
- Lot size
- 0.63 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9242
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1972
- Roof type
- Shingle
Listing agency
LEEDS REAL ESTATE
(906) 779-5333
Listed by
KIMBERLY WEBB · License #6501341251
(906) 396-9422
Added: Mar 5 Updated: Jul 11 at 8:08AM Checked: Jul 22 at 9:06PM
MLS# 50200978
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 updated office building is positioned on a high-visibility corner lot with a stoplight for convenient access. Interior improvements include sleek glass interior walls designed to bring natural light throughout the space. The layout features a spacious conference room, well-appointed bathrooms, and a dedicated breakroom area for everyday staff and client use.
The exterior offers attractive landscaping, sidewalks, and ample on-site parking to support employees and visitors. The property is described as being located only minutes from Ford Airport, with commercial service through Delta Air Lines.
The offering is presented as suitable for either an owner-occupant headquarters or an investment purchase with dependable, established renters already in place.
The exterior offers attractive landscaping, sidewalks, and ample on-site parking to support employees and visitors. The property is described as being located only minutes from Ford Airport, with commercial service through Delta Air Lines.
The offering is presented as suitable for either an owner-occupant headquarters or an investment purchase with dependable, established renters already in place.
Key Highlights
- High‑visibility corner lot location with stoplight access in a thriving area.
- Updated office space with sleek glass interior walls and natural light.
- Strong traffic flow and excellent accessibility.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.5k | $18.00 |
| − Vacancy | −$10.4k | −$3.94 |
| EGI | $37.1k | $14.06 |
| − OpEx | −$9.3k | −$3.51 |
| NOI | $27.8k | $10.54 |
2,640 SF · lease $18.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$397.6K
$347.9K – $463.9K
NOI $27,835 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.0K
$445.4K – $593.8K
NOI $35,629 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Edward Jones - Financial ...
Financial Advisor
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Updated office interiors include glass interior walls, a conference room, and dedicated breakroom space on a corner lot with stoplight access.
Where is this office building located?
The property is located at 126 Woodward Avenue Iron Mountain, MI.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: High‑visibility corner lot location with stoplight access in a thriving area.; Updated office space with sleek glass interior walls and natural light.; Strong traffic flow and excellent accessibility.
