Add Listing
    For Sale
    • 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

    168 S Ontario St De Tour Village, MI 49725

    View on Map
    Sponsored
    For Sale
    $279,000

    Apartments - De Tour Village, MI

    Property size:
    2,950 SF
    Days on Market:
    46
    Last Refresh:
    Mar 27 at 2:06 am

    Property Features for 168 S Ontario St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    041-722-010-00
    Size
    2,950 SF

    Building Details

    Year built
    1970
    Floors in Building
    2
    Number of units
    3
    Building materials
    Stone
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Jarvis

    Key Realty One

    Listing agent Jeff Jarvis License #6501430252

    Listing date Feb 9, 2026

    MLS# 25-481 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

    Property Insight Report

    Overview

    Thriving Business with Apartments

    This thriving, fully updated business is located in De Tour Village, Michigan, situated on the eastern tip of the Upper Peninsula. The property includes two on-site apartments and private parking. It is located directly across from a gas station and next to the seasonal farmer's market. The business has undergone upgrades since 2024, resulting in a 33% increase in revenue. New additions include hand-scooped specialty ice cream, daily breakfast, fresh bakery items, smoothies, and espresso. The property features new indoor and outdoor seating, a new beverage cooler for canned and bottled drinks, two retail freezers, and a retail cooler for grab-and-go items. The business has a 4.9-star rating on both Google and Facebook, with a loyal and growing customer base. DeTour Village has a population of approximately 300, with over 400,000 visitors passing through annually on their way to Drummond Island. The property size is 2950 square feet and is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bakehouse Bistro Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Hotel & Motel Department Store Food Market Grocery & Convenience Store Bar & Pub Spa & Massage Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    De Tour Village
    County
    Chippewa
    State
    Michigan
    Longitude
    -83.901798
    Latitude
    45.989728

    Nearby Similar for Sale

    • $279,000
      2,950 SF

      Turnkey Bistro in De Tour

      Thriving bistro business and property for sale in De Tour.
      168 S Ontario St, De Tour Village, MI 49725
      View Details
    • $265,000
      2,187 SF

      Established Restaurant & Saloon For Sale

      Turnkey restaurant and saloon with real estate and liquor license.
      410 Ontario St, De Tour Village, MI 49725
      View Details
    • $279,000
      2,950 SF

      Turnkey Bistro with Two Apartments

      Thriving bistro with two apartments in De Tour Village, MI.
      168 S Ontario St, De Tour Village, MI 49725
      View Details
    • $279,000

      Turnkey Bistro & Property For Sale

      Thriving bistro with on-site apartments in DeTour Village, MI.
      168 S Ontario St, De Tour Village, MI 49725
      View Details
    • $2,995,000
      4,606 SF

      Private Island with Historic Lighthouse

      Unique 13.56-acre island with lighthouse, keeper's house, and harbor.
      21500 S Pipe Is, De Tour Village, MI 49725
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Updated business in De Tour Village with on-site apartments.
    Where is this grocery and convenience store located?
    The property is located at 168 S Ontario St De Tour Village, MI.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: - Thriving business with a 33% revenue increase since 2024; - High customer satisfaction: 4.9-star rating on Google and Facebook; - Fully updated business with new equipment and expanded menu including ice cream, breakfast, bakery, smoothies, and espresso
    (906) 464-0123
    Request Owner's contact information
    168 S Ontario St De Tour Village, MI 49725
    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.
    168 S Ontario St
    De Tour Village, MI 49725
    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
    168 S Ontario St De Tour Village, MI 49725
    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
    Jeff Jarvis
    Real Estate License ID: 6501430252
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!