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    20143 HWY M28 Ewen, MI 49925

    View on Map
    For Sale
    $69,000

    COMMERCIAL - Ewen, MI

    Property size:
    1,300 SF
    Lot size:
    0.60 Acres
    Added:
    Oct 1, 2024
    Days on Market:
    553
    Last Refresh:
    Apr 6 at 9:06 pm

    Property Features for 20143 HWY M28

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Driveway, Paved or Surfaced
    Standard status
    Active
    APN
    6608-127-024-00
    Size
    1,300 SF
    Lot size
    0.60 Acres

    Taxes and HOA fees

    Tax Description
    MM-27 8/0 101-2 SEC 27 T48N R40W PAR OF LD IN NE1/4 OF NE1/4, COM AT PT WHICH IS 702.35 FT W ALG N LN OF SEC 27, FROM NE COR OF SD NE 1/4 OF NE 1/4 WHICH PT....

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard
    Water source
    Public

    Building Details

    Floors in Building
    1
    Building materials
    CompositeSiding, Frame, Masonite
    Roof type
    Metal
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    CLIFF KOLINSKY
    CLIFF KOLINSKY

    Listing agent CLIFF KOLINSKY

    Listing office CENTURY 21 BURKETT - LOL 4153 Hwy B PO Box 701, Eagle River, MI

    Listing date Oct 1, 2024

    MLS# 209317 Listing URL

    Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ewen, MI Commercial Space

    This commercial space is located in Ewen, MI. The single-level building features an open concept design with over 1,300 square feet of space. Situated on more than half an acre, the property includes abundant parking. The property has approximately 200 feet of high-traffic highway frontage. The building was previously utilized as a barber shop. Recent updates include a newly renovated bathroom and a metal roof. The property is connected to city sewer and water, as well as natural gas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Map

    City
    Ewen
    County
    Ontonagon
    State
    Michigan
    Longitude
    -89.2855118
    Latitude
    46.5346119

    Nearby Similar for Sale

    • $40,000
      500 SF

      Ewen Commercial Building For Sale

      Commercial building in Ewen, Michigan, suitable for various business ventures.
      203 S Cedar, Ewen, MI 49925
      View Details
    • $40,000
      500 SF

      Ewen Commercial Building on Main

      Commercial building on Main Street in Ewen, Michigan.
      203 S Cedar, Ewen, MI 49925
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime commercial space with highway frontage in Ewen, Michigan.
    Where is this storefront property located?
    The property is located at 20143 HWY M28 Ewen, MI.
    What is the asking price?
    The asking price for this property is $69,000.
    What are key features of this property?
    This property features: High‑traffic highway frontage (approximately 200 feet) provides maximum business visibility and easy access.; Benefit from over 1,300 square feet of open concept design suitable for various business ventures.; More than half an acre of property with abundant parking for customers.
    (715) 547-3400
    We can help!
    Listing Contact
    CLIFF KOLINSKY
    CLIFF KOLINSKY
    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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