1600 S Stephenson Avenue Iron Mountain, MI 49801
COMMERCIAL - Iron Mountain, MI
Property Features for 1600 S Stephenson Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- Size
- 2,528 SF
- Lot size
- 0.66 Acres
Utilities
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1972
Listing agent STEVE HARRIS License #UPAR (906) 396-3002
Listing office HARRIS STATE WIDE 221 E A Street Suite C, Iron Mountain, MI (906) 828-1099
Listing date Oct 28, 2025
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.
Located at 1600 S Stephenson Avenue in Iron Mountain, Michigan, the property is positioned to serve the surrounding Upper Peninsula market.
The building operates as a restaurant under the existing lease, providing an income-producing setup for an owner-operator or investor looking for a leased food-service use.
Key Highlights
- Leased to a national chain pizza company, providing immediate income.
- Fantastic business opportunity.
- Located in Iron Mountain, in the central Upper Peninsula.
Local Financial Insights For Specialty Retail
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 | $39.1k | $15.48 |
| − Vacancy | −$1.6k | −$0.65 |
| EGI | $37.5k | $14.83 |
| − OpEx | −$9.4k | −$3.71 |
| NOI | $28.1k | $11.12 |
