Historic Victorian Office
221 N Center Avenue Gaylord, MI 49735
COMMERCIAL - Gaylord, MI
Property size:
6,277 SFLot size:
0.92 AcresPrice / SF:
$151/SF- Added:
- Jun 5, 2026
- Days on Market:
- 36
- Last Refresh:
- Jul 10 at 4:06 am
Property Features for 221 N Center Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-2
- Basement
- Unfinished
- Standard status
- Active
- APN
- 103-205-001-009-00
- Size
- 6,277 SF
- Lot size
- 0.92 Acres
Taxes and HOA fees
- Tax Description
- LOTS 9, 10, 11 & 12 BLK. 1 FILLMORES ADDITIONCITY OF GAYLORD SEC 33 T31N R3W
Utilities
- Sewer type
- Public Sewer
Listing agent Tisa Appleton (989) 614-0701
Listing office EverGreen Home Realty 118 E Main Street, Gaylord, MI (989) 614-0701
Listing date Jun 5, 2026
MLS# 201840670
Copyright © 2026 Water Wonderland 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.
Investment Insights
Based on property information with market context.
This historic Victorian landmark is offered as a commercial office building with a character-rich interior and a flexible room layout. The property includes original millwork, stained-glass windows, maple and wide-plank hardwood floors, pocket doors, and original hardware, along with a tin ceiling and a wine cellar. Recent improvements include all-new windows and lead remediation throughout the interior and exterior, supporting immediate readiness for a range of professional uses.
The building sits on approximately 0.92 acres across four city lots at 221 N Center Avenue in Gaylord, Michigan, in an R-2 zoning environment. The asset is described as being in the heart of downtown Gaylord, with a park-like setting and parking potential, and buyers should verify allowable commercial uses.
With multiple spacious rooms and a heritage-oriented finish package, the property may appeal to owner-operators and tenants seeking a distinctive setting for offices, hospitality, retail, professional services, or event use. Because zoning and permitted uses can vary, prospective buyers are advised to confirm what commercial activities are authorized for the R-2 designation before proceeding.
The building sits on approximately 0.92 acres across four city lots at 221 N Center Avenue in Gaylord, Michigan, in an R-2 zoning environment. The asset is described as being in the heart of downtown Gaylord, with a park-like setting and parking potential, and buyers should verify allowable commercial uses.
With multiple spacious rooms and a heritage-oriented finish package, the property may appeal to owner-operators and tenants seeking a distinctive setting for offices, hospitality, retail, professional services, or event use. Because zoning and permitted uses can vary, prospective buyers are advised to confirm what commercial activities are authorized for the R-2 designation before proceeding.
Key Highlights
- Historic Victorian landmark in downtown Gaylord on four city lots
- Over 6,000 SF with original millwork, stained‑glass windows, maple and wide‑plank hardwood floors
- Interior features include pocket doors, original hardware, and a tin ceiling
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 | $107.0k | $17.04 |
| − Vacancy | −$13.9k | −$2.22 |
| EGI | $93.1k | $14.82 |
| − OpEx | −$23.3k | −$3.71 |
| NOI | $69.8k | $11.12 |
6,277 SF · lease $17.04/SF/yr · vacancy 13.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$997.0K
$872.4K – $1.16M
NOI $69,791 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.60M
$7.52M – $10.03M
NOI $601,839 @ 7.0% cap · market cap 63.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Historic Victorian office building with multiple adaptable rooms, original millwork, and recently replaced windows.
Where is this office building located?
The property is located at 221 N Center Avenue Gaylord, MI.
What is the asking price?
The asking price for this property is $948,280.
What are key features of this property?
This property features: Historic Victorian landmark in downtown Gaylord on four city lots; Over 6,000 SF with original millwork, stained‑glass windows, maple and wide‑plank hardwood floors; Interior features include pocket doors, original hardware, and a tin ceiling
