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    1712 Ashmun ST Sault Sainte Marie, MI 49783

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    For Sale
    $350,000

    Commercial Income - Sault Ste Marie, MI

    Property size:
    5,293 SF
    Price / SF:
    $66/SF
    Added:
    May 6, 2026
    Days on Market:
    2
    Last Refresh:
    May 7 at 11:06 am

    Property Features for 1712 Ashmun ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-3
    Parking features
    Parking Lot
    Interior features
    Kitchen Area, Living Quarters, Storage
    Exterior features
    High Visibility, High Traffic Location
    Standard status
    Active
    APN
    17-051-543-001-00
    Size
    5,293 SF

    Utilities

    Heating system
    Baseboard
    Cooling system
    Wall Unit(s), Window Unit(s)

    Building Details

    Number of units
    13
    Building materials
    Brick
    Roof type
    Flat, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeffrey Lipple

    Listing agent Jeffrey Lipple License #6501403199

    Listing office Xpedition Summit Realty Group MI

    Listing date May 6, 2026

    MLS# 26-241 Listing URL

    Copyright © 2026 Eastern Upper Peninsula Board 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.

    HighLights

    • Priced to move at ~$27k per unit and ~$66 per square foot, offering unmatched value.
    • Immediate cash flow potential with multiple exit strategies.
    • Located on a high‑visibility corridor in the heart of Sault Ste. Marie with high traffic.
    • Strong long‑term rental demand due to low supply and proximity to Lake Superior State University.
    • Benefit from the $3.22 billion Soo Locks expansion project bringing an influx of workers through at least 2030.
    • Includes an attached single‑family residence in addition to the 13 units.

    Overview

    Hospitality Property in Sault Ste Marie

    Located in the heart of Sault Ste. Marie, this hospitality property features 13 units and an attached single-family residence. The property is situated on a high-visibility corridor. Encompassing 5,293 square feet, the property is positioned to benefit from the $3.22 billion Soo Locks expansion project, which is expected to bring an influx of construction workers, engineers, contractors, and government personnel to the area through at least 2030. Strong long-term rental demand is supported by low supply and proximity to Lake Superior State University. The property is zoned B-3 and offers a path to immediate cash flow with multiple exit strategies for investors, developers, and owner/operators.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • The Guest House - — 2049 Ashmun St, Sault Ste. Marie, MI 49783
    • Laker Inn Motel — 1712 Ashmun St, Sault Ste. Marie, MI 49783
    • Lawson Motel — 2049 Ashmun St, Sault Ste. Marie, MI 49783
    • Royal Motel — 1707 Ashmun St, Sault Ste. Marie, MI 49783
    • Skyline Motel — 2601 I-75 Business Spur, Sault Ste. Marie, MI 49783

    Location Insight

    • Map
    • Local Demand
    City
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.353705
    Latitude
    46.484406

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    FAQs

    What type of property is this?
    Motel - 13-unit hospitality property with attached residence in high-visibility location.
    Where is this motel located?
    The property is located at 1712 Ashmun ST Sault Sainte Marie, MI.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Priced to move at ~$27k per unit and ~$66 per square foot, offering unmatched value.; Immediate cash flow potential with multiple exit strategies.; Located on a high‑visibility corridor in the heart of Sault Ste. Marie with high traffic.
    (248) 930-4922
    We can help!
    Listing Contact
    Jeffrey Lipple
    Real Estate License ID: 6501403199
    Learn More
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    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
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