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    201/205 W Portage Ave, Sault Sainte Marie, MI 49783

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    For Sale
    $370,000

    COMMERCIAL - Sault Ste Marie, MI

    Property size:
    3,950 SF
    Price / SF:
    $93/SF
    Added:
    Mar 5, 2026
    Days on Market:
    91
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 201/205 W Portage Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Historic Com
    Standard status
    Active
    Size
    3,950 SF

    We can help!

    Listing Contact
    Kristina Thibault

    Listing agent Kristina Thibault License #6501304068

    Listing office RE/MAX NorthStar Realty 1411 Ashmun St., Sault Ste. Marie, MI

    Listing date Mar 5, 2026

    MLS# 25-111

    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

    • 3,950 SF updated retail space in historic downtown Sault Ste. Marie
    • One, two, or three storefront options for flexible retail use
    • Storage includes three basements plus additional back rooms
    • Fenced‑in patio area and move‑in ready retail space
    • Free street parking in front and private parking in back
    • High‑traffic tourist district with summer foot traffic from bus tours and cruise ship passengers

    Overview

    This updated, move-in-ready retail space totals 3,950 square feet and is configured for one, two, or three storefronts, depending on tenant needs. The layout includes additional back rooms and substantial storage in three basements, supporting retail operations that require inventory or overflow storage. A fenced-in patio area provides an outdoor option for customer-facing use.

    The property is located in historic downtown Sault Ste. Marie and is described as having views of the Soo Locks and Canada. It is positioned in a tourist district with steady summer foot traffic, including bus tours and cruise ship passengers. Customer access is supported by convenient free street parking in front, with private parking available in the back for employees and logistics.

    The flexible storefront configuration and on-site storage make the space practical for a range of retail concepts that want either a single frontage presence or a multi-storefront setup. With move-in readiness, in-building storage, and both front and back parking, the property can support day-to-day operations with minimal relocation and straightforward customer access. Zoning is listed as Historic Com, which may be relevant to buyers and tenants evaluating fit within the property’s intended use framework.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center 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
    Sault Sainte Marie
    County
    Chippewa
    State
    Michigan
    Longitude
    -84.347519
    Latitude
    46.500405

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    FAQs

    What type of property is this?
    Storefront property - Move-in-ready downtown retail with multiple storefront options, basement storage, and a fenced patio for customer use.
    Where is this storefront property located?
    The property is located at 201/205 W Portage Ave Sault Sainte Marie, MI.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: 3,950 SF updated retail space in historic downtown Sault Ste. Marie; One, two, or three storefront options for flexible retail use; Storage includes three basements plus additional back rooms
    (906) 440-0525
    We can help!
    Listing Contact
    Kristina Thibault
    Real Estate License ID: 6501304068
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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.

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    201/205 W Portage Ave, Sault Ste Marie, MI 49783
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