101 Seventh Avenue, Norway, MI 49870
- Added:
- Dec 5, 2024
- Days on Market:
- 577
- Last Refresh:
- Jul 5 at 12:06 pm
Property Features for 101 Seventh Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 1,458 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1984
Utilities
- Water source
- Public
Building Details
- Year built
- 1960
Listing agent KIMBERLY WEBB License #6501341251 (906) 396-9422
Listing office LEEDS REAL ESTATE 1114 Carpenter Ave, Iron Mountain, MI (906) 779-5333
Listing date Dec 5, 2024
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.
HighLights
- Automotive service station built in 1960 with public water service
- Recently updated roof for low‑maintenance use
- Two overhead doors for servicing multiple vehicles
- Radiant heating for year‑round comfort
- Fully equipped with hoists, welders, and essential service tools
Overview
The property is located at 101 Seventh Avenue in Norway, Michigan, in Dickinson County. The business is positioned on a highway for visibility to passing motorists, with the seller describing an established customer base built over years of operation. The sale is structured to support continuity of operations, with the seller willing to remain temporarily to train the new owner and share day-to-day insights.
This offering is well suited for an automotive operator seeking a ready-to-run shop with core functional improvements already in place, including overhead access, shop heating, and in-shop equipment. For buyers who want to step into an existing service station business and maintain a consistent workflow, the combination of included equipment and the planned transition support can help shorten the time between closing and active operation.
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 | $21.0k | $14.40 |
| − Vacancy | −$2.2k | −$1.51 |
| EGI | $18.8k | $12.89 |
| − OpEx | −$5.6k | −$3.87 |
| NOI | $13.2k | $9.02 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Brians Auto Body — 515 7th ave, norway, mi 49870
- M & D Automotive — 101 7th Ave, Norway, MI 49870
- Norway auto body — 515 7th Ave, Norway, MI 49870
- Krist Oil Co — 625 Brown St, Norway, MI 49870
- Saginaw Street Automotive — 402 Saginaw St, Norway, MI 49870
Location Insight
- Map
- Local Demand
- City
- Norway
- County
- Dickinson
- State
- Michigan
- Longitude
- -87.911993
- Latitude
- 45.787084
