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    308/312 Superior Crystal Falls, MI 49920

    View on Map
    For Sale
    Under Contract
    $179,900

    Commercial/Industrial - Crystal Falls, MI

    Property size:
    22,398 SF
    Lot size:
    0.19 Acres
    Added:
    Feb 5, 2025
    Days on Market:
    421
    Last Refresh:
    Apr 2 at 12:06 am

    Property Features for 308/312 Superior

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Interior features
    Alley, Fixtures, Restroom(s), Sidewalks
    Exterior features
    Alley
    Standard status
    Active Under Contract
    APN
    052-100-031-00,052-100-032-00
    Size
    22,398 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxAnnualAmount
    2474.91

    Building Details

    Year built
    1916
    Building materials
    Brick
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    MELANIE SIENKIEWICZ
    MELANIE SIENKIEWICZ

    Listing agent MELANIE SIENKIEWICZ License #6502342403

    Listing office RE/MAX NORTH COUNTRY-FL 725 Central, Iron Mountain, MI

    Listing date Feb 5, 2025

    MLS# 50166113 Listing URL

    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.

    Overview

    Iconic Emporium in Crystal Falls

    An established business in Crystal Falls, Michigan, presents an opportunity to own an iconic antique and collectible consignment store. The property, known as Charlie's Emporium, occupies over 19,000 square feet of retail space. The sale includes two adjoining historic buildings, featuring 7,800 square feet on the main level, 4,338 square feet on the second floor, and an additional 7,800 square feet in the walkout lower level with alley access. The property includes staircases and timeless charm. An unfinished 82x30 exposed brick loft with a separate entrance offers an opportunity for conversion into income-producing living space. The buildings are being sold together and are situated on a lot of approximately 0.19 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • Crystal Floral Shop — 500 Adams St, Crystal Falls, MI 49920

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Falls
    County
    Iron
    State
    Michigan
    Longitude
    -88.3316705
    Latitude
    46.0968744

    Nearby Similar for Sale

    • $114,000
      5,663 SF

      Turnkey Bakery & Café Opportunity

      Fully operational bakery and café in Crystal Falls, Michigan.
      318 Superior, Crystal Falls, MI 49920
      View Details
    • $339,900
      5,400 SF

      Turn-Key 6-Unit Investment Opportunity

      6-unit complex with laundry, garage, and tenant-paid utilities.
      401 Marquette, Crystal Falls, MI 49920
      View Details

    FAQs

    What type of property is this?
    Storefront property - Established antique store with development potential in Crystal Falls, MI.
    Where is this storefront property located?
    The property is located at 308/312 Superior Crystal Falls, MI.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: Established, well‑known antique and collectible consignment business (Charlie's Emporium) included in the sale.; Over 19,000 square feet of prime retail space in two adjoining historic buildings.; Excellent opportunity to convert an 82x30 unfinished exposed brick loft with separate entrance into income‑producing living space.
    (906) 367-2258
    We can help!
    Listing Contact
    MELANIE SIENKIEWICZ
    MELANIE SIENKIEWICZ
    Real Estate License ID: 6502342403
    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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