101 W F St, Iron Mountain, MI 49801
For Sale
$1,200,000
The building combines dedicated office areas with warehouse space, restrooms, and radiant heat.
Property Size7,540 SF
Lot Size0.43 Acres
Price / SF$159.15
Days on Market65
Property Features for 101 W F St
General Information
Standard status
Property type
Size
Lot size
Building Details
Year Built
Listed By:
Ryan Gordon
(906) 774-8570
Added: Sep 4
Changed: Nov 5
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,033
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,660
$900.7K
Cap Rate 7%
$643,329
$643.3K
Cap Rate 9%
$500,367
$500.4K
Market Conditions
NOI Build-Up for 7,540 SF
Gross rent
$55.4K $7.35/SF
− Vacancy
−$2.4K −$0.32/SF
EGI
$53.0K $7.03/SF
− OpEx
−$7.9K −$1.05/SF
NOI
$45.0K $5.97/SF
Area
Dickinson County, MI
Vacancy
4.40%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,660
Cap Rate 7%
$643,329
Cap Rate 9%
$500,367
Alternative Uses
Best Use
Warehouse
$643.3K
$562.9K – $750.6K
NOI $45,033 @ 7.0% cap · market cap 3.75%
Second Best
Industrial
$533.7K
$467.0K – $622.6K
NOI $37,358 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,757 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49801, MI
11,479
Population
5,927
Households
1.9
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
123.9 sq mi
ZIP Area
93
Density / Sq Mi
$62,461
Median Household Income
$41,468
Median Earnings
$667
Median Rent
$157,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The building combines dedicated office areas with warehouse space, restrooms, and radiant heat.
Where is this flex space located?
The property is located at 101 W F St Iron Mountain, MI.
What is the asking price?
The asking price for this property is $1,200,000.
