Brick Storefront Building with
For Sale
$575,000
201 N Lincoln Street, Escanaba, MI 49829
COM/IND/BUS OPP, Escanaba, MI
Property Size4,400 SF
Lot Size0.23 Acres
Price / SF$130.68
Days on Market181
Property Features for 201 N Lincoln Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Lot features
Corner Lot, Main Street, Mall, Shopping Center, Utilities Above Ground
Subdivision
Escanaba (21010)
Standard status
Active
Size
4,400 SF
Lot size
0.23 Acres
Utilities
Water source
Public
Building Details
Year built
1962
Listing Agency:
STATE WIDE REAL ESTATE OF ESCANABA
(906) 786-1308
Listed By:
MIKE HARRIS · License #205616
(906) 420-6333
Added: Feb 20
Changed: Aug 19
Last Checked: Aug 20 at 11:06PM
MLS# 50199947
Copyright © 2026 Upper Peninsula Association 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.
Investment Insights
Based on property information with market context.
Brick storefront building located at 201 N Lincoln Street in Escanaba, MI 49829, within Delta County. The property sits on a 0.23-acre lot and includes approximately 4,400 square feet of flexible commercial space. Built in 1962, the building is described as having been in a recent remodel and is almost completely gutted, creating a clean slate for a new or updated build-out.
The space is presented as suitable for retail, restaurant, office, or service-based businesses. The layout is described as open with excellent accessibility, and the property provides ample parking for customers and staff. It has been part of the historic Escanaba Mall presence since its inception, supporting its long-standing commercial role in the area.
Public water service is available. Zoning is Commercial, aligning the property with a broad range of commercial uses.
The space is presented as suitable for retail, restaurant, office, or service-based businesses. The layout is described as open with excellent accessibility, and the property provides ample parking for customers and staff. It has been part of the historic Escanaba Mall presence since its inception, supporting its long-standing commercial role in the area.
Public water service is available. Zoning is Commercial, aligning the property with a broad range of commercial uses.
Key Highlights
- Brick storefront building on a 0.23‑acre lot
- Approximately 4,400 square feet of flexible commercial space
- Almost completely gutted remodel with a clean slate build‑out
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
$37,930
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
6.60%
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%
$758,600
$758.6K
Cap Rate 7%
$541,857
$541.9K
Cap Rate 9%
$421,444
$421.4K
Market Conditions
NOI Build-Up for 4,400 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
$66.0K $15.00/SF
− Vacancy
−$11.8K −$2.69/SF
EGI
$54.2K $12.32/SF
− OpEx
−$16.3K −$3.69/SF
NOI
$37.9K $8.62/SF
Area
Delta County, MI
Vacancy
17.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$758,600
Cap Rate 7%
$541,857
Cap Rate 9%
$421,444
Alternative Uses
Best Use
Specialty Retail
$826.5K
$723.2K – $964.3K
NOI $57,856 @ 7.0% cap · market cap 10.06%
Second Best
Retail
$541.9K
$474.1K – $632.2K
NOI $37,930 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$861.3K
$753.7K – $1.00M
NOI $60,293 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49829, MI
17,009
Population
8,729
Households
1.9
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
66.8 sq mi
ZIP Area
255
Density / Sq Mi
$45,808
Median Household Income
$31,366
Median Earnings
$667
Median Rent
$139,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront building with ample parking, adaptable space, and public water service in Escanaba.
Where is this storefront property located?
The property is located at 201 N Lincoln Street Escanaba, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Brick storefront building on a 0.23‑acre lot; Approximately 4,400 square feet of flexible commercial space; Almost completely gutted remodel with a clean slate build‑out
