Versatile Commercial
798 E US 41 Highway Negaunee, MI 49866
For Sale
Under Contract
$169,900
COMMERCIAL - Negaunee, MI
Property Size1,181 SF
Lot Size0.27 Acres
Price / SF$143.86
Days on Market47
Property Features for 798 E US 41 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Non-Conforming,Commercial
Patio and Porch features
Patio
Exterior features
Deck/Patio, Fence Owned
Fencing
Fenced
Standard status
Active Under Contract
Size
1,181 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2600
Utilities
Heating system
Oil
Water source
Public
Building Details
Year built
1950
Roof type
Shingle
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS
(906) 225-5992
Listed By:
CHELSEY DAAVETTILA · License #UPAR
(906) 282-2524
Added: Jun 11
Changed: Jul 25
Last Checked: Jul 27 at 9:06AM
MLS# 50210957
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.
Investment Insights
Based on property information with market context.
This adaptable commercial building is currently operating as a residential residence and offers a flexible main level with large central gathering spaces, a fully equipped kitchen, and two private rooms. The main floor includes hardwood floors, and there is an expansive unfinished basement that can support additional storage needs. The property is situated on a 0.27-acre lot.
The site is located at 798 E US 41 Highway in the City of Negaunee, within Marquette County. Zoning is listed as Non-Conforming Commercial.
With its existing interior configuration and available basement storage, the building may be suited for a variety of professional or retail uses within the constraints of its zoning and condition.
The site is located at 798 E US 41 Highway in the City of Negaunee, within Marquette County. Zoning is listed as Non-Conforming Commercial.
With its existing interior configuration and available basement storage, the building may be suited for a variety of professional or retail uses within the constraints of its zoning and condition.
Key Highlights
- B‑2 commercial zoning on US 41 in the City of Negaunee
- Currently operating as a residential residence with a flexible layout for business use
- Main level includes fully equipped kitchen, large central gathering spaces, and two private rooms
Financial Insights For Healthcare Medical
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 | $24.8k | $21.00 |
| − Vacancy | −$2.5k | −$2.10 |
| EGI | $22.3k | $18.90 |
| − OpEx | −$8.9k | −$7.56 |
| NOI | $13.4k | $11.34 |
1,181 SF · lease $21.00/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$260.9K
$228.3K – $304.4K
NOI $18,261 @ 7.0% cap · market cap 10.75%
Second Best
Healthcare Medical
$191.3K
$167.4K – $223.2K
NOI $13,393 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$347.8K
$304.3K – $405.8K
NOI $24,347 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Single family property - Commercially zoned property with a flexible main-floor layout and an unfinished basement for storage.
Where is this single family property located?
The property is located at 798 E US 41 Highway Negaunee, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: B‑2 commercial zoning on US 41 in the City of Negaunee; Currently operating as a residential residence with a flexible layout for business use; Main level includes fully equipped kitchen, large central gathering spaces, and two private rooms
