Remodeled Retail Storefront with
103 S Division Street Bellaire, MI 49615
103 S Division Street, Bellaire, MI, 49615
$245,000
For Sale
$245,000
Remodeled, handicap-accessible retail storefront with natural light, tile flooring, two bathrooms, and on-site storage shed.
Property Size1,400 SF
Lot Size0.23 Acres
Price / SF$175
Days on Market182
Property Features for 103 S Division Street
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
Sabudarealty
Added: Jan 20 Updated: Jul 21 at 3:41AM Checked: Jul 21 at 3:41AM
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 remodeled retail storefront offers approximately 1,400 square feet of flexible space with plenty of natural light. The building features low-maintenance tile floors and vinyl siding, and it is handicap accessible. Two bathrooms are available for customer or staff use, supporting a range of business types.
The property is located on a highly traveled state highway, M-88, in the Village of Bellaire, with easy entry and exit for day-to-day operations. A parking and driveway easement is in place, and a shed at the back of the building provides additional storage.
The space was recently used as a Subway restaurant and can be suited for retail, office, salon, gallery, or similar uses, subject to business requirements.
The property is located on a highly traveled state highway, M-88, in the Village of Bellaire, with easy entry and exit for day-to-day operations. A parking and driveway easement is in place, and a shed at the back of the building provides additional storage.
The space was recently used as a Subway restaurant and can be suited for retail, office, salon, gallery, or similar uses, subject to business requirements.
Key Highlights
- 1,400 SF remodeled commercial storefront on highly traveled M‑88 in the Village of Bellaire
- Building remodeled around 2012 with low‑maintenance tile floors and vinyl siding, plus plenty of natural light
- Handicap accessible with two bathrooms
Local Financial Insights For Specialty 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 | −$5.2k | −$3.71 |
| NOI | $15.6k | $11.12 |
1,400 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 6.36%
Second Best
Retail
$207.6K
$181.7K – $242.2K
NOI $14,533 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$249.1K
$218.0K – $290.7K
NOI $17,440 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Subway
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Remodeled, handicap-accessible retail storefront with natural light, tile flooring, two bathrooms, and on-site storage shed.
Where is this storefront property located?
The property is located at 103 S Division Street Bellaire, MI.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,400 SF remodeled commercial storefront on highly traveled M‑88 in the Village of Bellaire; Building remodeled around 2012 with low‑maintenance tile floors and vinyl siding, plus plenty of natural light; Handicap accessible with two bathrooms
