Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    114 S Division Street Bellaire, MI 49615

    Sponsored
    Source: https://www.cbcworldwide.com
    For Sale
    $229,000

    1,569 SF Office Building For Sale

    Property size:
    1,569 SF

    Property Features for 114 S Division Street

    General Information

    Property type
    Office buildings
    Square Feet
    1,569 SF
    Price / Square Foot
    $145
    Elevators
    N/A
    Lot Size
    18,731 SF

    Building Details

    Year Built
    1980
    Buildings
    1
    Stories
    2

    Overview

    Bellaire Office Building For Sale

    This 1,569 square foot office building is located in Bellaire, Michigan, and occupies approximately 0.43 acres. Situated just one minute from downtown Bellaire, the property offers convenient access to the city center. The main floor features five offices, a conference room, a kitchenette, and a restroom. A spiral staircase provides access to the second floor, which includes three additional offices and two restrooms. The building has a unique design, and the second-floor offices feature covered outdoor balconies. The property is currently priced at a 9.54% CAP rate in year one, based on the current lease with a tenant. The property is located south on Division Street from E Cayuga Street.

    We can help!

    Listing Contact
    Alex Mackenzie

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carla McDonald, COLDWELL ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellaire
    State
    Michigan
    Longitude
    -85.198872
    Latitude
    44.974068

    Nearby Similar for Sale

    • $975,000
      9,173 SF

      Multifamily Property Near Downtown Bellaire

      Multi-unit residential property with warehouses and barn on 8+ acres.
      6633 Bellaire Hwy, Bellaire, MI 49615
      View Details
    • $265,000
      1,400 SF

      Restaurant/Retail Space in Bellaire, MI

      Prime commercial space in Bellaire, suitable for various businesses.
      103 S Division St, Bellaire, MI 49615
      View Details
    • $1,600,000
      3,776 SF

      Established Tree Service Business

      Thriving tree service business with land, buildings, and equipment.
      220 Birch St, Bellaire, MI 49615
      View Details
    • $289,000
      2,400 SF

      Bellaire Commercial/Industrial Opportunity

      Well-maintained commercial building in Bellaire, Michigan, with retail and residential potential.
      732 E Cayuga St, Bellaire, MI 49615
      View Details
    • $299,000
      2,800 SF

      Commercial Opportunity in Shanty Creek

      Commercial building in Shanty Creek Resort, Bellaire, MI.
      5820 Shanty Creek Rd, Bellaire, MI 49615
      View Details
    • Contact for pricing
      4,151 SF

      Golf Course View Home

      Custom home with golf course views and modern updates.
      3007 Akins Ln, Bellaire, MI 49615
      View Details
    • Contact for pricing

      Shanty Creek Resort Lodge Suite

      One-bedroom suite near ski hills, golf, and resort amenities.
      2400 Troon South, Bellaire, MI 49615
      View Details
    • $99,900
      11.11 Acres

      Bellaire Mixed-Use Development Opportunity

      11 Acres, Medical District, High Potential
      00 M-88, Bellaire, MI 49615
      View Details
    • $266,000
      1,569 SF

      Bellaire Office Building Investment

      Prime Bellaire location, high ROI potential.
      114 Division St, Bellaire, MI 49615
      View Details
    • $249,900
      1,400 SF

      Bellaire Industrial Space For Sale

      High-traffic location, remodeled industrial building.
      103 Division St, Bellaire, MI 49615
      View Details
    • $294,000
      1,900 SF

      M-88 Showroom and Storage Space

      Showroom, office, storage, and garage space on M-88 near Bellaire.
      7232 Bellaire Hwy, Bellaire, MI 49615
      View Details
    • $294,000

      M-88 Highway Commercial Property

      Commercial property with showroom, office, storage, and pole barn.
      7232 S M 88 Hwy, Bellaire, MI 49615
      View Details

    FAQs

    What type of property is this?
    Office building - 1,569 SF Office Building For Sale
    Where is this office building located?
    The property is located at 114 S Division Street Bellaire, MI.
    What is the asking price?
    The asking price for this property is $229,000.
    (231) 929-2300
    Request Owner's contact information
    114 S Division Street Bellaire, MI 49615
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    114 S Division Street
    Bellaire, MI 49615
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    114 S Division Street Bellaire, MI 49615
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Alex Mackenzie
    (231) 929-2300
    Learn more
    Google sign-in failed. Please try again or use another login method.