909 S Stephenson Avenue Iron Mountain, MI 49801
COMMERCIAL - Iron Mountain, MI
Property Features for 909 S Stephenson Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- Size
- 2,335 SF
- Lot size
- 0.20 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 1920
- Roof type
- Shingle
Listing agent RYAN GORDON License #6502420131 (906) 282-1644
Listing office STEPHENS REAL ESTATE 1320 CARPENTER AVE., Iron Mountain, MI (906) 774-8570
Listing date Jun 23, 2025
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.
The lot is positioned at a prominent traffic light on the main thoroughfare in town, directly across from the mall and next door to Dunkin’ Donuts, supporting straightforward access and strong retail visibility.
Offered for sale in Iron Mountain, Michigan, this is a development-ready parcel for buyers seeking a centrally located commercial site with an existing improvement in place.
Key Highlights
- Prime location at a prominent traffic light on the main thoroughfare.
- Zoned for business, offering immediate development potential.
- High visibility location directly across from the mall.
Local Financial Insights For Retail
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 | $33.6k | $14.40 |
| − Vacancy | −$3.5k | −$1.51 |
| EGI | $30.1k | $12.89 |
| − OpEx | −$9.0k | −$3.87 |
| NOI | $21.1k | $9.02 |
