Prime Commercial Space in
103 S Division St Bellaire, MI 49615
For Sale
$265,000
Remodeled 1400 SF commercial space on a highly travelled highway.
Property Size1,400 SF
Lot Size0.23 Acres
Price / SF$189.29
Days on Market94
Property Features for 103 S Division St
General Information
Standard status
Active
Size
1,400 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Year Built
1960
Listing Agency:
Keller Williams Northern Michigan
(231) 360-0739
Listed By:
Julia L Pietrowicz · License #6502372398
(231) 360-0739
Source:
Elliman
Added: Apr 26
Changed: Jul 10
Last Checked: Jul 28 at 1:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Northern Michigan
Investment Insights
Based on property information with market context.
This 1400 square feet commercial space is located on a highly travelled state highway, M-88, in the Village of Bellaire, the county seat of Antrim County and home of Shanty Creek Resort. The location offers exposure and easy entry and exit for a multitude of businesses. Remodeled around 2012, the building features natural light, low maintenance tile floors, and vinyl siding. It is handicap accessible, including the two bathrooms. Previously used as a Subway restaurant, it is suitable for retail, office, salon, gallery, or other business concepts. The parcel is 50x200, and there is an easement for parking and the driveway. A shed at the back of the building provides additional storage. The location has a walk score of 55, indicating it is somewhat walkable, and a bike score of 40, indicating it is somewhat bikeable.
Key Highlights
- Prime commercial space on highly travelled M‑88 in Bellaire.
- High‑traffic location near Shanty Creek Resort.
- Building remodeled around 2012.
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 | $21.7k | $15.48 |
| − Vacancy | −$910 | −$0.65 |
| EGI | $20.8k | $14.83 |
| − OpEx | −$6.2k | −$4.45 |
| NOI | $14.5k | $10.38 |
1,400 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$207.6K
$181.7K – $242.2K
NOI $14,533 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.1K
$218.0K – $290.7K
NOI $17,440 @ 7.0% cap · market cap 6.58%
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?
Storefront property - Remodeled 1400 SF commercial space on a highly travelled highway.
Where is this storefront property located?
The property is located at 103 S Division St Bellaire, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Prime commercial space on highly travelled M‑88 in Bellaire.; High‑traffic location near Shanty Creek Resort.; Building remodeled around 2012.
