Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    338 Rail St Negaunee, MI 49866

    For Sale
    $379,900

    Investment - Negaunee, MI

    Property size:
    4,441 SF
    Lot size:
    0.12 Acres
    Days on Market:
    14
    Last Refresh:
    Dec 5 at 9:06 am

    Property Features for 338 Rail St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Mixed Use
    APN
    52-53-010-058-50
    Parking features
    Off Street
    Size
    4,441 SF
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air, Hot Water (Heating)
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1900
    Architectural style
    Other

    ARTISAN REAL ESTATE GROUP (906) 273-0652

    Listing agent BENJAMIN ARGALL (906) 214-4267 License #6502430986

    Listing date Nov 22, 2025

    MLS# 50194886 Listing URL

    Copyright © 2025 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

    Turnkey Mixed-Use Investment Opportunity

    This mixed-use property in downtown Negaunee offers a high-performing short-term rental upstairs and a fully leased commercial space on the main level. The upper residential unit has been updated and has a 4.98-star rating with 91 reviews over four years. Renovations include new furnishings (2022), updated kitchen appliances, a 2025 tankless gas water heater, high-efficiency boiler, new washer and dryer (2025), and electrical improvements. A full sewer line and drain replacement was completed in 2022. It features an Ecobee smart thermostat, Schlage Encode keyless entry system, and window A/C units. The unit is offered fully furnished. The main-level commercial space is leased at $1,400/month through October 2026. The tenant pays separately metered utilities, while the owner covers trash and internet. Current performance shows approximately $50,460 in short-term rental revenue year-to-date and $65,700 in total rental income, with an estimated NOI of around $27,000. The property has a heated garage/basement for storage or future income-producing potential. The property is located near The Depot venue, downtown dining and shopping, RAMBA trails, the Iron Ore Heritage Trail, and ATV/snowmobile routes. The lot size is 0.12 acres and the property size is 4,441 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Negaunee
    County
    Marquette
    State
    Michigan
    Longitude
    -87.611456
    Latitude
    46.49804

    Nearby Similar for Sale

    • New
      $1,250,000
      6,227 SF

      Negaunee Restaurant & Bar Investment

      Iconic restaurant and bar for sale in Negaunee, Michigan.
      100 Cliff St, Negaunee, MI 49866
      View Details
    • New
      $149,900
      1,641 SF

      Vintage Duplex in Historic Negaunee

      Vintage duplex or single-family home near downtown Negaunee amenities.
      314 N Pioneer Ave, Negaunee, MI 49866
      View Details
    • New
      $149,900
      1,641 SF

      Vintage Duplex in Historic Negaunee

      Vintage duplex or single-family home near downtown Negaunee.
      314 N Pioneer Ave, Negaunee, MI 49866
      View Details
    • $750,000
      5,356 SF

      Turnkey Restaurant & Rental Income

      Established restaurant and bar with five rental units in Negaunee.
      305 Iron St, Negaunee, MI 49866
      View Details
    • $200,000
      10,932 SF

      Negaunee Commercial/Industrial Versatile Space

      Versatile 10,932 sq ft commercial/industrial space in historic Negaunee.
      401 Jackson St, Negaunee, MI 49866
      View Details
    • $2,014,000
      24,124 SF

      Negaunee Strip Mall Investment Opportunity

      Modern strip mall with highway frontage and investment potential.
      400 E Us 41, Negaunee, MI 49866
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with short-term rental and commercial space.
    Where is this mixed-use property located?
    The property is located at 338 Rail St Negaunee, MI.
    What is the asking price?
    The asking price for this property is $379,900.
    What are key features of this property?
    This property features: - Turnkey mixed-use property with immediate income: High-performing short-term rental upstairs and a fully leased commercial space downstairs.; - Strong short-term rental performance: 4.98-star rating with 91 reviews and approximately $50,460 in year-to-date revenue.; - Reliable commercial income: Leased at $1,400/month through October 2026 with tenant-paid utilities.
    (906) 214-4267
    Request Owner's contact information
    338 Rail St Negaunee, MI 49866
    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.
    338 Rail St
    Negaunee, MI 49866
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    338 Rail St Negaunee, MI 49866
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.