Retail Space in Iron
For Sale
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207 E Hughitt St, Iron Mountain, MI 49801
Retail space available for sale in Iron Mountain, Michigan.
Property Size4,680 SF
Price / SF$117.52
Days on Market172
Property Features for 207 E Hughitt St
General Information
Standard status
Active
Size
4,680 SF
Property subtype
Retail
Building Details
Year Built
1953
Listing Agency:
Stephens Real Estate
(906) 774-8570
Listed By:
Ryan Gordon · License #MI 6502420131
Source:
Crexi
Added: Mar 2
Changed: Jul 6
Last Checked: Aug 20 at 6:36PM
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.
This retail space, located in Iron Mountain, Michigan, offers 4,680 square feet of area. The property is suitable for retail use.
Key Highlights
- Retail Property
- 4,680 SqFt
- Year Built: 1953
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
$42,221
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
7.68%
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%
$844,420
$844.4K
Cap Rate 7%
$603,157
$603.2K
Cap Rate 9%
$469,122
$469.1K
Market Conditions
NOI Build-Up for 4,680 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
$67.4K $14.40/SF
− Vacancy
−$7.1K −$1.51/SF
EGI
$60.3K $12.89/SF
− OpEx
−$18.1K −$3.87/SF
NOI
$42.2K $9.02/SF
Area
Dickinson County, MI
Vacancy
10.50%
Lease Rate
$14.40 /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%
$844,420
Cap Rate 7%
$603,157
Cap Rate 9%
$469,122
Alternative Uses
Best Use
Retail
$603.2K
$527.8K – $703.7K
NOI $42,221 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$902.3K
$789.5K – $1.05M
NOI $63,160 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 7%
Hotels & Casinos 6%
Home Improvements & Furnishings 4%
Wendy's
Dining
12,898 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,147 visits/mo
0.4 miles
Thai Bistro
Dining
2,260 visits/mo
0.1 miles
TownePlace Suites by Marriott
Hotels & Casinos
1,653 visits/mo
0.1 miles
Pat's Campioni's TrueValue
Home Improvements & Furnishings
1,176 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for sale in Iron Mountain, Michigan.
Where is this retail space located?
The property is located at 207 E Hughitt St Iron Mountain, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Retail Property; 4,680 SqFt; Year Built: 1953
