Historic Victorian Mixed-Use
221 Center Ave, Gaylord, MI 49735
Historic Victorian landmark with versatile interior spaces and recent window and lead remediation updates in downtown Gaylord.
Type:Retail
Property size:
6,000 SFPrice / SF:
$158/SF- Added:
- Jun 16, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 20 at 7:37 am
Property Features for 221 Center Ave
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Retail
Listing office Blaker Realty
Listing date Jun 16, 2026
Source Crexi
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 Blaker Realty
HighLights
- Historic Victorian landmark in downtown Gaylord on four city lots with 6,000+ SF of interior space
- Features original millwork, stained‑glass windows, maple and wide‑plank hardwood floors, pocket doors, and original hardware
- Includes a tin ceiling and wine cellar, plus multiple spacious rooms adaptable for offices, hospitality, retail, professional services, or events
- Recent improvements: all‑new windows throughout
- Recent improvements: lead remediation completed throughout the interior and exterior
- Buyers to verify permitted commercial uses
Overview
This historic Victorian landmark is offered for sale and comprises over 6,000 square feet across four city lots. The building is known for original craftsmanship throughout, including stunning millwork, stained-glass windows, maple and wide-plank hardwood floors, pocket doors, and original hardware. A tin ceiling adds character, and there is also a wine cellar. Layout flexibility is a strong point, with multiple spacious rooms that can be adapted for office use, hospitality, retail, professional services, or event applications.
Located in the heart of downtown Gaylord on Center Ave, the property benefits from a prominent setting and a park-like feel. The offering includes multiple lots, and the seller notes ample parking potential for prospective owners to confirm for their specific plans.
For buyers seeking a distinctive property with adaptable room configurations, this building supports a range of commercial and event uses. Recent improvements include all-new windows and lead remediation throughout the interior and exterior, which may help reduce near-term uncertainty related to building updates. Buyers should verify permitted commercial uses prior to proceeding.
Located in the heart of downtown Gaylord on Center Ave, the property benefits from a prominent setting and a park-like feel. The offering includes multiple lots, and the seller notes ample parking potential for prospective owners to confirm for their specific plans.
For buyers seeking a distinctive property with adaptable room configurations, this building supports a range of commercial and event uses. Recent improvements include all-new windows and lead remediation throughout the interior and exterior, which may help reduce near-term uncertainty related to building updates. Buyers should verify permitted commercial uses prior to proceeding.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.2k | $17.04 |
| − Vacancy | −$13.3k | −$2.22 |
| EGI | $88.9k | $14.82 |
| − OpEx | −$22.2k | −$3.71 |
| NOI | $66.7k | $11.12 |
6,000 SF · lease $17.04/SF/yr · vacancy 13.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$953.0K
$833.9K – $1.11M
NOI $66,712 @ 7.0% cap · market cap 7.04%
Second Best
Retail
$889.8K
$778.6K – $1.04M
NOI $62,285 @ 7.0% cap · market cap 6.57%
Theoretical Best
Warehouse
$8.22M
$7.19M – $9.59M
NOI $575,280 @ 7.0% cap · market cap 60.67%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Gaylord
- County
- Otsego
- State
- Michigan
- Longitude
- -84.673979
- Latitude
- 45.029394
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Historic Victorian landmark with versatile interior spaces and recent window and lead remediation updates in downtown Gaylord.
Where is this office building located?
The property is located at 221 Center Ave Gaylord, MI.
What is the asking price?
The asking price for this property is $948,280.
What are key features of this property?
This property features: Historic Victorian landmark in downtown Gaylord on four city lots with 6,000+ SF of interior space; Features original millwork, stained‑glass windows, maple and wide‑plank hardwood floors, pocket doors, and original hardware; Includes a tin ceiling and wine cellar, plus multiple spacious rooms adaptable for offices, hospitality, retail, professional services, or events
