Remodeled Storefront
103 S Division Street, Bellaire, MI 49615
For Sale
$245,000
Commercial, Bellaire, MI
Property Size1,400 SF
Lot Size0.23 Acres
Price / SF$175
Days on Market292
Property Features for 103 S Division Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
handicap accessible
storage shed
Building Details
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Northern Michigan · Keller Williams Realty
(231) 947-8200
Listed By:
Julia Pietrowicz · License #6502372398
(231) 360-0739
Added: Jan 20
Changed: Oct 23
Last Checked: Nov 7 at 3:06PM
MLS# 1941789
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,400-square-foot storefront property in Bellaire was remodeled about 2012 and features a frame structure with vinyl siding, asphalt roofing, and low-maintenance tile flooring. Natural light serves the interior, while two accessible bathrooms support a range of commercial layouts. A rear shed provides additional storage.
The property fronts M-88 in the Village of Bellaire, with an easement covering parking and the driveway. The 0.23-acre parcel measures 50 feet by 200 feet. It was most recently used as a Subway restaurant, and the space can accommodate retail, office, salon, gallery, or similar commercial uses described in the listing.
The property fronts M-88 in the Village of Bellaire, with an easement covering parking and the driveway. The 0.23-acre parcel measures 50 feet by 200 feet. It was most recently used as a Subway restaurant, and the space can accommodate retail, office, salon, gallery, or similar commercial uses described in the listing.
Key Highlights
- 1,400 SF storefront property on M‑88 in Bellaire
- Remodeled about 2012 with natural light and tile flooring
- 0.23‑acre parcel measuring 50' x 200'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,533
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,660
$290.7K
Cap Rate 7%
$207,614
$207.6K
Cap Rate 9%
$161,478
$161.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$21.7K $15.48/SF
− Vacancy
−$910 −$0.65/SF
EGI
$20.8K $14.83/SF
− OpEx
−$6.2K −$4.45/SF
NOI
$14.5K $10.38/SF
Area
Antrim County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,660
Cap Rate 7%
$207,614
Cap Rate 9%
$161,478
Alternative Uses
Best Use
Retail
$207.6K
$181.7K – $242.2K
NOI $14,533 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
34k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Dining 31%
Shops & Services 27%
Family Fare
Groceries
14,184 visits/mo
0.3 miles
McDonald's
Dining
9,270 visits/mo
0.1 miles
Marathon
Shops & Services
3,999 visits/mo
0.0 miles
BP
Shops & Services
3,024 visits/mo
0.2 miles
Huntington Bank
Shops & Services
2,057 visits/mo
0.3 miles
Demographics for 49615, MI
4,161
Population
3,575
Households
1.2
Avg Household Size
57
Median Age
44%
College-Educated
97%
High-School Grad
68.4 sq mi
ZIP Area
61
Density / Sq Mi
$78,750
Median Household Income
$38,635
Median Earnings
$775
Median Rent
$257,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial building with natural light, accessible bathrooms, tile flooring, and an 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 storefront property on M‑88 in Bellaire; Remodeled about 2012 with natural light and tile flooring; 0.23‑acre parcel measuring 50' x 200'
