Multi-Building Manufacturing
For Sale
$1,300,000
1333 S Jackson Street, Iron Mountain, MI 49801
Three buildings combine manufacturing, storage, inventory, equipment, and office areas for an established industrial operation.
Property Size7,600 SF
Price / SF$171.05
Days on Market27
Property Features for 1333 S Jackson Street
General Information
Standard status
Active
Size
7,600 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Three-Phase Power
No
Amenities
Central Air
3
Concrete
86260
Building Details
Year Built
1955
Buildings
3
Listing Agency:
STEPHENS REAL ESTATE
(906) 774-8570
Listed By:
RYAN GORDON · License #6502420131
(906) 282-1644
Source:
Xome
Added: Aug 8
Changed: Sep 1
Last Checked: Sep 2 at 3:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of STEPHENS REAL ESTATE
Investment Insights
Based on property information with market context.
Located at 1333 S Jackson Street in Iron Mountain, Michigan, this manufacturing property includes 7,600 square feet across three buildings. The layout provides room for manufacturing, storage, inventory, equipment, and business operations, along with office areas for administrative and customer-service functions. One-phase power is installed, and central air is listed among the interior features.
Built in 1955, the property occupies nearly half an acre. Superior Steel Systems, Inc. has operated as a family-owned company since 1967, with a focus on steel buildings and overhead doors. The combination of multiple structures, office space, and industrial work areas supports on-site manufacturing and storage functions.
Built in 1955, the property occupies nearly half an acre. Superior Steel Systems, Inc. has operated as a family-owned company since 1967, with a focus on steel buildings and overhead doors. The combination of multiple structures, office space, and industrial work areas supports on-site manufacturing and storage functions.
Key Highlights
- 7,600‑square‑foot manufacturing property on nearly half an acre
- Three‑building configuration for manufacturing, storage, inventory, and equipment
- Office areas included for administrative and customer‑service operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,392
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$907,840
$907.8K
Cap Rate 7%
$648,457
$648.5K
Cap Rate 9%
$504,356
$504.4K
Market Conditions
NOI Build-Up for 7,600 SF
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.
Gross rent
$55.9K $7.35/SF
− Vacancy
−$2.5K −$0.32/SF
EGI
$53.4K $7.03/SF
− OpEx
−$8.0K −$1.05/SF
NOI
$45.4K $5.97/SF
Area
Dickinson County, MI
Vacancy
4.40%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$907,840
Cap Rate 7%
$648,457
Cap Rate 9%
$504,356
Alternative Uses
Best Use
Warehouse
$648.5K
$567.4K – $756.5K
NOI $45,392 @ 7.0% cap · market cap 3.49%
Second Best
Industrial
$537.9K
$470.7K – $627.6K
NOI $37,655 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,567 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 49801, MI
11,479
Population
5,927
Households
1.9
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
123.9 sq mi
ZIP Area
93
Density / Sq Mi
$62,461
Median Household Income
$41,468
Median Earnings
$667
Median Rent
$157,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Three buildings combine manufacturing, storage, inventory, equipment, and office areas for an established industrial operation.
Where is this manufacturing property located?
The property is located at 1333 S Jackson Street Iron Mountain, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,600‑square‑foot manufacturing property on nearly half an acre; Three‑building configuration for manufacturing, storage, inventory, and equipment; Office areas included for administrative and customer‑service operations
