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    South Range Commercial Property with Pub Title is generated by Realmo AI

    31 Trimountian, South Range, MI 49965

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    Claim this Listing
    New
    For Sale
    $579,000

    1 to 4 Units - South Range, MI

    Property size:
    3,552 SF
    Lot size:
    0.39 Acres
    Price / SF:
    $163/SF
    Added:
    May 11, 2026
    Days on Market:
    2
    Last Refresh:
    May 12 at 9:06 am

    Property Features for 31 Trimountian

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Off Street, Parking Lot
    Patio and Porch features
    Patio, Deck
    Interior features
    220 Volt Power, Bath, Cable TV Available, Cafe/Kitchen, Internet Available, Delivery Area, Delivery Door, Furniture, Living Quarters Attached, No Elevator, Occupied, Public Restrooms, Restroom(s), Telephone
    Exterior features
    Deck/Patio
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    031-045-103-006-00,017-00,018-
    Size
    3,552 SF
    Lot size
    0.39 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5004.31

    Utilities

    Utilities
    Cable Available, Phone Available
    Heating system
    Forced Air, Pellet Stove (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    MELISSA MAKI
    MELISSA MAKI

    Listing agent MELISSA MAKI License #6506043229

    Listing office COLDWELL BANKER SCHMIDT REALTORS 407 S. Lakeshore Blvd, MARQUETTE, MI

    Listing date May 11, 2026

    MLS# 50207188 Listing URL

    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.

    HighLights

    • Thriving pub business with liquor license included
    • Spacious three‑bedroom apartment above, ideal for short‑term rental
    • Complete renovation blends modern amenities with a charming atmosphere
    • Prime location directly adjacent to Trail 3, attracting consistent customer traffic
    • Fully equipped pub with kitchen, seating for 70, shuffleboard, pool table, and electronic dart board
    • Ample storage and on‑site laundry in the basement

    Overview

    This commercial property features a pub on the main floor and a three-bedroom, two-full-bath apartment above, primarily utilized as a short-term rental. The entire building has undergone a complete renovation, blending modern amenities with a charming atmosphere. The pub, which comes with a liquor license, offers a welcoming space for patrons, complete with a kitchen designed for standard bar fare. The bar itself has been salvaged during renovations to maintain a nostalgic ambiance. There's seating for about 70 people, a shuffleboard table, pool table and electronic dart board. The basement offers ample storage and on-site laundry. Located in South Range, MI, right behind the building, Trail 3 attracts outdoor enthusiasts throughout the year, providing a steady flow of customers. The property is situated on a 0.39-acre lot. The building size is 3,552 square feet. The current owners are ready to retire, making this an ideal time for new ownership to take over this successful establishment. The property is zoned commercial.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Map

    City
    South Range
    County
    Houghton
    State
    Michigan
    Longitude
    -88.6416105
    Latitude
    47.0695975

    FAQs

    What type of property is this?
    Bar & Pub - Commercial property featuring a pub and a three-bedroom apartment.
    Where is this bar & pub located?
    The property is located at 31 Trimountian South Range, MI.
    What is the asking price?
    The asking price for this property is $579,000.
    What are key features of this property?
    This property features: Thriving pub business with liquor license included; Spacious three‑bedroom apartment above, ideal for short‑term rental; Complete renovation blends modern amenities with a charming atmosphere
    (906) 231-0694
    We can help!
    Listing Contact
    MELISSA MAKI
    MELISSA MAKI
    Real Estate License ID: 6506043229
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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