Office Building with
For Sale
$369,900
109 W US41 Highway, Negaunee, MI 49866
COM/IND/BUS OPP, Negaunee, MI
Property Size921 SF
Lot Size0.23 Acres
Price / SF$401.63
Days on Market162
Property Features for 109 W US41 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Exterior features
Wheelchair Access
Accessibility
Accessible Approach with Ramp
Subdivision
Negaunee (52021)
Standard status
Active
Size
921 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
3711
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fireplace
kitchenette
dedicated storage
private office
cubicle space
Building Details
Year built
1973
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
FRAN SEVEGNEY
(906) 869-7465
Added: May 21
Changed: Oct 21
Last Checked: Oct 29 at 9:06AM
MLS# 50208851
Copyright © 2026 Upper Peninsula Association of Realtors. 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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 921-square-foot office building, constructed in 1973, has a reception area with a fireplace, a private office, and open cubicle space. A kitchenette, restroom, and dedicated storage add to the interior layout. The property also has central air conditioning, forced-air heat, and public water service.
Set on a 0.23-acre parcel at 109 W US41 Highway in Negaunee, the property overlooks Teal Lake. Commercial zoning and an accessible approach with a ramp are additional features.
Set on a 0.23-acre parcel at 109 W US41 Highway in Negaunee, the property overlooks Teal Lake. Commercial zoning and an accessible approach with a ramp are additional features.
Key Highlights
- 921‑square‑foot office building on a 0.23‑acre parcel
- Reception area with fireplace, private office, and cubicle space
- Kitchenette, restroom, and dedicated storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,241
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,820
$284.8K
Cap Rate 7%
$203,443
$203.4K
Cap Rate 9%
$158,233
$158.2K
Market Conditions
NOI Build-Up for 921 SF
Gross rent
$22.1K $24.00/SF
− Vacancy
−$3.1K −$3.38/SF
EGI
$19.0K $20.62/SF
− OpEx
−$4.7K −$5.15/SF
NOI
$14.2K $15.46/SF
Area
Marquette County, MI
Vacancy
14.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,820
Cap Rate 7%
$203,443
Cap Rate 9%
$158,233
Alternative Uses
Best Use
Office B
$203.4K
$178.0K – $237.4K
NOI $14,241 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.2K
$237.3K – $316.5K
NOI $18,987 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 49866, MI
8,259
Population
3,723
Households
2.2
Avg Household Size
41
Median Age
34%
College-Educated
96%
High-School Grad
201.3 sq mi
ZIP Area
41
Density / Sq Mi
$83,433
Median Household Income
$47,467
Median Earnings
$900
Median Rent
$191,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - A flexible interior includes reception, a private office, cubicle space, kitchenette, restroom, and dedicated storage.
Where is this office building located?
The property is located at 109 W US41 Highway Negaunee, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 921‑square‑foot office building on a 0.23‑acre parcel; Reception area with fireplace, private office, and cubicle space; Kitchenette, restroom, and dedicated storage
