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    1707 Ashmun ST Sault Sainte Marie, MI 49783

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    New
    For Sale
    $450,000

    Commercial Income - Sault Ste Marie, MI

    Property size:
    6,450 SF
    Price / SF:
    $69/SF
    Added:
    May 6, 2026
    Days on Market:
    2
    Last Refresh:
    May 7 at 2:06 pm

    Property Features for 1707 Ashmun ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-3
    Standard status
    Active
    APN
    17-051-243-010-00
    Size
    6,450 SF

    Building Details

    Number of units
    21
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeffrey Lipple

    Listing agent Jeffrey Lipple License #6501403199

    Listing office Xpedition Summit Realty Group MI

    Listing date May 6, 2026

    MLS# 26-240 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.

    HighLights

    • Priced to move at ~$21,400 per unit and ~$69 per square foot, offering unmatched value.
    • Immediate cash flow potential with multiple exit strategies for various buyers.
    • Located in a high‑visibility corridor in the heart of Sault Ste. Marie.
    • Strong long‑term rental demand due to low supply and proximity to Lake Superior State University.
    • Soo Locks expansion project driving increased demand through at least 2030.
    • New flat roof recently installed and ongoing renovations.

    Overview

    Hospitality Property in Sault Ste Marie

    This 21-unit hospitality property is situated on a high-visibility corridor in Sault Ste. Marie. The property, with a size of 6450 square feet, is located in the heart of Sault Ste. Marie. The property is zoned B-3. The area is experiencing an influx of construction workers, engineers, contractors, and government personnel due to the $3.22 billion Soo Locks expansion project, expected to continue through at least 2030. Long-term rental demand is strong due to low supply and proximity to Lake Superior State University. A new flat roof has recently been installed, and renovations are ongoing. This property may be bought as a package with 1712 Ashmun.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • The Guest House - — 2049 Ashmun St, Sault Ste. Marie, MI 49783
    • Laker Inn Motel — 1712 Ashmun St, Sault Ste. Marie, MI 49783
    • Lawson Motel — 2049 Ashmun St, Sault Ste. Marie, MI 49783
    • Royal Motel — 1707 Ashmun St, Sault Ste. Marie, MI 49783
    • Skyline Motel — 2601 I-75 Business Spur, Sault Ste. Marie, MI 49783

    Location Insight

    • Map
    • Local Demand
    City
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.353564
    Latitude
    46.48399

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    FAQs

    What type of property is this?
    Motel - 21-unit hospitality property on a high-visibility corridor.
    Where is this motel located?
    The property is located at 1707 Ashmun ST Sault Sainte Marie, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Priced to move at ~$21,400 per unit and ~$69 per square foot, offering unmatched value.; Immediate cash flow potential with multiple exit strategies for various buyers.; Located in a high‑visibility corridor in the heart of Sault Ste. Marie.
    (248) 930-4922
    We can help!
    Listing Contact
    Jeffrey Lipple
    Real Estate License ID: 6501403199
    Learn More
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    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
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