Lakefront Mixed-Use
2116 US 41 Highway, Michigamme, MI 49861
For Sale
New
$3,000,000
COM/IND/BUS OPP, Michigamme, MI
Property Size21,043 SF
Lot Size80.00 Acres
Price / SF$142.57
Days on Market2
Property Features for 2116 US 41 Highway
General Information
Property type
Property subtype
Zoning
Zoning description
Patio and Porch features
Exterior features
Accessibility
Lot features
Subdivision
Standard status
Size
Lot size
Utilities
Heating system
Cooling system
Water source
Water front features
Water front
Amenities
commercial kitchen
fire suppression systems
loading dock
deck
hiking paths
RV hookups
camper hookups
fireplace
offices
bathrooms
ramp access
screened porches
gathering room
Building Details
Year built
Additional Structures
Buildings
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
TERRY HUFFMAN · License MI #6506001775
(906) 360-2505
Added: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 50227519
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 80-acre property contains approximately 24 buildings and a reported 21,043 square feet of building area. Improvements include cabins of varying layouts, a dining and gathering hall, an art building, a log chapel, two bathroom buildings, a garage, a shed, and a canteen. The hall has a commercial kitchen with refrigeration, ovens, ventilation, and fire suppression, as well as offices, bathrooms, a fireplace, serving windows, a loading dock, and a deck overlooking the lake. Some cabins have porches or decks; select cabins include bathrooms, showers, or ramp access. Camper and RV hookups are also present.
The grounds front Lake Michigamme and include wooded areas, hiking paths, multiple parking areas, and drivable roads. Year-round access is directly off US-41. The property has a history as a church camp dating to the 1920s. Commercial and residential zoning is listed; future uses are subject to applicable zoning and approvals.
The grounds front Lake Michigamme and include wooded areas, hiking paths, multiple parking areas, and drivable roads. Year-round access is directly off US-41. The property has a history as a church camp dating to the 1920s. Commercial and residential zoning is listed; future uses are subject to applicable zoning and approvals.
Key Highlights
- 80 acres with Lake Michigamme frontage
- Approximately 24 buildings, including cabins and gathering facilities
- Reported building area of 21,043 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,884
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,777,680
$2.8M
Cap Rate 7%
$1,984,057
$2.0M
Cap Rate 9%
$1,543,156
$1.5M
Market Conditions
NOI Build-Up for 21,043 SF
Gross rent
$252.5K $12.00/SF
− Vacancy
−$30.3K −$1.44/SF
EGI
$222.2K $10.56/SF
− OpEx
−$83.3K −$3.96/SF
NOI
$138.9K $6.60/SF
Area
Marquette County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,777,680
Cap Rate 7%
$1,984,057
Cap Rate 9%
$1,543,156
Alternative Uses
Best Use
Mixed Use
$1.98M
$1.74M – $2.31M
NOI $138,884 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,822 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 49861, MI
565
Population
634
Households
0.9
Avg Household Size
60
Median Age
30%
College-Educated
96%
High-School Grad
183.9 sq mi
ZIP Area
3
Density / Sq Mi
$66,806
Median Household Income
$38,542
Median Earnings
$229,200
Median Home Value
Frequently Asked Questions
What type of property is this?
Mixed-use property - Cabins, gathering facilities, and established roads are set across a wooded property with Lake Michigamme frontage.
Where is this mixed-use property located?
The property is located at 2116 US 41 Highway Michigamme, MI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 80 acres with Lake Michigamme frontage; Approximately 24 buildings, including cabins and gathering facilities; Reported building area of 21,043 square feet
