6-Unit Mixed-Use
New
For Sale
$225,000
200 202 & 204 S PINE STREET, Ishpeming, MI 49849
ISHPEMING, MI
Property Size3,645 SF
Price / SF$61.73
Days on Market2
Property Features for 200 202 & 204 S PINE STREET
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bedrooms
7
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Elementary school
BIRCHVIEW
Middle school
ISHPEMING
High school
ISHPEMING
Standard status
Active
Size
3,645 SF
Building Details
Year built
1880
Listing Agency:
Marquette · Coldwell Banker Real Estate
(906) 225-5992
Listed By:
Daniel Menard
(906) 360-1964
Added: Oct 20
Last Checked: Oct 21 at 7:06AM
MLS# 50225266
Copyright © 2026 Coldwell Banker Schmidt 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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Investment Insights
Based on property information with market context.
The property comprises two buildings totaling 3,645 square feet, with four residential units and two commercial spaces. Apartment configurations include an efficiency, one-bedroom, two-bedroom, and three-bedroom unit. One commercial space is occupied by a massage studio; the other is vacant and was previously used as a barber shop. The buildings date to 1880.
The properties are located at 200, 202, and 204 S Pine Street in Ishpeming, Michigan. The residential and commercial components are distributed across the buildings, including apartments above the barber shop and commercial spaces at street level.
The properties are located at 200, 202, and 204 S Pine Street in Ishpeming, Michigan. The residential and commercial components are distributed across the buildings, including apartments above the barber shop and commercial spaces at street level.
Key Highlights
- Two‑building property totaling 3,645 square feet
- Four residential units: efficiency, one‑bedroom, two‑bedroom, and three‑bedroom apartments
- Two commercial spaces, including a massage studio and a vacant former barber shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,712
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,240
$394.2K
Cap Rate 7%
$281,600
$281.6K
Cap Rate 9%
$219,022
$219.0K
Market Conditions
NOI Build-Up for 3,645 SF
Gross rent
$37.2K $10.20/SF
− Vacancy
−$1.3K −$0.37/SF
EGI
$35.8K $9.83/SF
− OpEx
−$16.1K −$4.42/SF
NOI
$19.7K $5.41/SF
Area
Marquette County, MI
Vacancy
3.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,240
Cap Rate 7%
$281,600
Cap Rate 9%
$219,022
Alternative Uses
Best Use
Retail
$639.0K
$559.2K – $745.6K
NOI $44,733 @ 7.0% cap · market cap 19.88%
Second Best
Mixed Use
$343.7K
$300.7K – $401.0K
NOI $24,057 @ 7.0% cap · market cap 10.69%
Theoretical Best
Office A
$1.07M
$939.3K – $1.25M
NOI $75,145 @ 7.0% cap · market cap 33.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 49849, MI
11,819
Population
5,915
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
95%
High-School Grad
241.4 sq mi
ZIP Area
49
Density / Sq Mi
$63,425
Median Household Income
$35,081
Median Earnings
$769
Median Rent
$145,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings bring together four apartments and two commercial spaces in a single property.
Where is this mixed-use property located?
The property is located at 200 202 & 204 S PINE STREET Ishpeming, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑building property totaling 3,645 square feet; Four residential units: efficiency, one‑bedroom, two‑bedroom, and three‑bedroom apartments; Two commercial spaces, including a massage studio and a vacant former barber shop
