Remodeled Handicap-Accessible
For Sale
$245,000
103 S Division Street, Bellaire, MI 49615
COMMERCIAL - Bellaire, MI
Property Size1,400 SF
Lot Size0.23 Acres
Price / SF$175
Days on Market198
Property Features for 103 S Division Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
20
Exterior features
Vinyl
Lot features
Freestanding
Directions
On the south side of the Village of Bellaire, on M-88 (S. Division) just south of the curve and north of the motel.
Subdivision
Antrim
Standard status
Active
Size
1,400 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
COM AT A PT 133 FT S & 233 FT E OF THE NW COR OF THE NE 1/4 OF NE 1/4 OF SEC 30; TH W 200 FT; TH S 50 FT ALG E LINE OF S DIVISION; TH E 200 FT FT M/L TO A PT DUE S OF THE POB; TH N TO POB SEC 30 T30N R7W
Tax Annual Amount
2386
Legal Description
COM AT A PT 133 FT S & 233 FT E OF THE NW COR OF THE NE 1/4 OF NE 1/4 OF SEC 30; TH W 200 FT; TH S 50 FT ALG E LINE OF S DIVISION; TH E 200 FT FT M/L TO A PT DUE S OF THE POB; TH N TO POB SEC 30 T30N R7W
Amenities
plenty of natural light
low maintenance tile floors
handicap accessible
2 bathrooms
shed
Building Details
Building materials
Frame
Roof type
Asphalt
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: Aug 4
Last Checked: Aug 6 at 3:06AM
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.
Investment Insights
Based on property information with market context.
Remodeled storefront property in Bellaire with handicap accessibility and two bathrooms. The space has low-maintenance tile floors and vinyl siding, and the building was completely remodeled around 2012. Constructed with frame construction and an asphalt roof, the property includes a shed at the back of the building for additional storage.
The property is located on a highly traveled state highway, M-88, with easy entry and exit for a range of business uses. An easement for parking and the driveway supports site access, and the parcel measures 50' x 200'.
Previously used as a Subway restaurant, the layout has also been described as suitable for retail, office, salon, gallery, or other concepts. This listing is for the real estate only.
The property is located on a highly traveled state highway, M-88, with easy entry and exit for a range of business uses. An easement for parking and the driveway supports site access, and the parcel measures 50' x 200'.
Previously used as a Subway restaurant, the layout has also been described as suitable for retail, office, salon, gallery, or other concepts. This listing is for the real estate only.
Key Highlights
- Completely remodeled around 2012
- Handicap accessible with two bathrooms
- Low‑maintenance tile floors and vinyl siding
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled storefront with handicap accessibility, two bathrooms, tile floors, and vinyl siding on a highly traveled state highway.
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: Completely remodeled around 2012; Handicap accessible with two bathrooms; Low‑maintenance tile floors and vinyl siding
