Renovated Mixed-Use Pub
For Sale
$559,000
31 Trimountain Avenue, South Range, MI 49965
COM/IND/BUS OPP, South Range, MI
Property Size3,552 SF
Lot Size0.39 Acres
Price / SF$157.38
Days on Market149
Property Features for 31 Trimountain Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Off Street, Parking Lot
Patio and Porch features
Patio
Exterior features
Deck/Patio
Subdivision
Town of South Range
Lot features
Main Street, Utilities Above Ground, Utilities Underground
Standard status
Active
Size
3,552 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5004
Utilities
Heating system
Forced Air, Pellet Stove
Cooling system
Central Air
Water source
Public
Amenities
shuffleboard table
pool table
electronic dart board
basement storage
on-site laundry
Building Details
Year built
1900
Roof type
Asphalt
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS
(906) 225-5992
Listed By:
MELISSA MAKI · License #6506043229
(906) 231-0694
Added: May 11
Changed: Sep 13
Last Checked: Oct 6 at 3:06PM
MLS# 50207188
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.
This 3,552-square-foot mixed-use building pairs a main-floor pub with a three-bedroom, two-full-bath apartment above. The apartment has primarily served as a short-term rental. Renovation work has been completed throughout the property, while the pub retains a salvaged bar and includes a kitchen suited to standard bar fare. Customer amenities include seating for about 70, a shuffleboard table, pool table, and electronic dart board. A basement provides storage and laundry space.
The property is located at 31 Trimountain Avenue in South Range, Michigan, with Trail 3 directly behind the building. The 0.39-acre site includes off-street parking and a parking lot. Commercial zoning, a liquor license, public water, central air, forced-air heat, and a pellet stove are also in place. Built in 1900, the building includes a patio and asphalt roof.
The property is located at 31 Trimountain Avenue in South Range, Michigan, with Trail 3 directly behind the building. The 0.39-acre site includes off-street parking and a parking lot. Commercial zoning, a liquor license, public water, central air, forced-air heat, and a pellet stove are also in place. Built in 1900, the building includes a patio and asphalt roof.
Key Highlights
- 3,552‑square‑foot mixed‑use building on a 0.39‑acre site
- Main‑floor pub with liquor license and kitchen for standard bar fare
- Three‑bedroom, two‑full‑bath upper apartment primarily used as a short‑term rental
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,119
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,380
$682.4K
Cap Rate 7%
$487,414
$487.4K
Cap Rate 9%
$379,100
$379.1K
Market Conditions
NOI Build-Up for 3,552 SF
Gross rent
$55.4K $15.60/SF
− Vacancy
−$9.9K −$2.79/SF
EGI
$45.5K $12.81/SF
− OpEx
−$11.4K −$3.20/SF
NOI
$34.1K $9.61/SF
Area
Houghton County, MI
Vacancy
17.90%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,380
Cap Rate 7%
$487,414
Cap Rate 9%
$379,100
Alternative Uses
Best Use
Apartment 5plus
$38.23M
$33.45M – $44.60M
NOI $2,676,006 @ 7.0% cap · market cap 478.71%
Second Best
Specialty Retail
$487.4K
$426.5K – $568.7K
NOI $34,119 @ 7.0% cap · market cap 6.10%
Theoretical Best
Multifamily LT 5
$43.92M
$38.43M – $51.24M
NOI $3,074,391 @ 7.0% cap · market cap 549.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 49965, MI
465
Population
560
Households
0.8
Avg Household Size
57
Median Age
25%
College-Educated
89%
High-School Grad
191.9 sq mi
ZIP Area
2
Density / Sq Mi
$77,604
Median Household Income
$47,708
Median Earnings
$222,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial building combines a pub with an upper-level three-bedroom apartment.
Where is this mixed-use property located?
The property is located at 31 Trimountain Avenue South Range, MI.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 3,552‑square‑foot mixed‑use building on a 0.39‑acre site; Main‑floor pub with liquor license and kitchen for standard bar fare; Three‑bedroom, two‑full‑bath upper apartment primarily used as a short‑term rental
