103 S Division Street, Bellaire, MI 49615
Restaurant/Food Service - Bellaire, MI
- Added:
- Jan 20, 2026
- Days on Market:
- 152
- Last Refresh:
- Jun 21 at 11:06 pm
Property Features for 103 S Division Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Other,Commercial
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 1, Bathroom 2
- Parking
- 20
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 1,400 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2385.98
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1960
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Julia Pietrowicz (231) 360-0739
Listing office Keller Williams Northern Michigan 830 E. Front St, Suite 110, Traverse City, MI (231) 947-8200
Listing date Jan 20, 2026
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.
HighLights
- About 1,400 SF of commercial space on highly traveled M‑88 in the Village of Bellaire
- Completely remodeled around 2012; tile floors and vinyl siding
- Handicap accessible building with 2 bathrooms and accessible restrooms
- Parcel size 50' x 200' with an easement for parking and driveway
- Includes basement and additional storage shed at the back of the building
- Forced air heating and central air; roof is asphalt
Overview
The building is located on a highly traveled state highway, M-88, in the Village of Bellaire. The site includes easy entry and exit for businesses, and the parcel includes an easement for parking and driveway access.
As currently described, the space was recently used as a Subway restaurant and may suit a new restaurant concept or alternative service-oriented or consumer-facing operations such as retail, office, salon, or gallery use. This is a real estate-only offering, with the seller also indicating openness to franchise options and willingness to lease under the provided terms.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bellaire
- County
- Antrim
- State
- Michigan
- Longitude
- -85.1978417
- Latitude
- 44.9750498
