Building Details

Building Size 2,175 SF

Year Built 1947

Year Renovated 2020

Stories 1

Listing Agency: Stephens Real Estate

Listed By: Ryan Gordon · License #6502420131 Show Phone

Source: Commercialcafe

Added: Aug 20 Changed: Aug 29 Last Checked: Oct 12 at 4:48PM

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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 2,175-square-foot storefront property at 393 Woodward Ave includes a modernized interior and a commercial kitchen with major appliances conveyed in the sale. Significant renovations have been completed in recent years, providing updated infrastructure for a customer-oriented commercial operation.

Large storefront windows bring natural light into the space and create display frontage along Woodward Ave in Kingsford, Michigan. The existing kitchen improvements and open storefront presentation support continued retail or restaurant use, as well as other commercial concepts requiring visible customer access and food-service infrastructure.

Key Highlights

• 2,175‑square‑foot commercial building at 393 Woodward Ave
• Commercial kitchen with major appliances included in the sale
• Major renovations completed in recent years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,776

Cap Rate

5.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,520 $215.5K

Cap Rate 7%

$153,943 $153.9K

Cap Rate 9%

$119,733 $119.7K

Market Conditions

NOI Build-Up for 2,175 SF

Gross rent

$16.0K $7.35/SF

− Vacancy

−$591 −$0.27/SF

EGI

$15.4K $7.08/SF

− OpEx

−$4.6K −$2.12/SF

NOI

$10.8K $4.95/SF

Area

Dickinson County, MI

Vacancy

3.70%

Lease Rate

$7.35 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,520

Cap Rate 7%

$153,943

Cap Rate 9%

$119,733

Alternative Uses

Best Use

Specialty Retail

$345.6K

$302.4K – $403.2K (±1% cap)

NOI $24,191 @ 7.0% cap · market cap 12.74%

Second Best

Retail

$280.3K

$245.3K – $327.0K (±1% cap)

NOI $19,622 @ 7.0% cap · market cap 10.33%

Theoretical Best

Office A

$419.3K

$366.9K – $489.2K (±1% cap)

NOI $29,353 @ 7.0% cap · market cap 15.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Carpet & Flooring Store HVAC Service Daycare Center Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

626

Businesses Nearby

31k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 54% Dining 31% Home Improvements & Furnishings 12% Groceries 3%

Kwik Trip Shops & Services

9,119 visits/mo 0.2 miles

Burger King Dining

5,640 visits/mo 0.3 miles

Family Dollar Shops & Services

5,076 visits/mo 0.4 miles

SUBWAY Dining

3,996 visits/mo 0.3 miles

Kingsford Ace Home Improvements & Furnishings

3,816 visits/mo 0.3 miles

Demographics for 49802, MI

6,197

Population

2,768

Households

2.2

Avg Household Size

46

Median Age

26%

College-Educated

96%

High-School Grad

7.9 sq mi

ZIP Area

784

Density / Sq Mi

$61,067

Median Household Income

$37,633

Median Earnings

$861

Median Rent

$109,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Modernized commercial space with prominent windows and an equipped kitchen ready for retail, restaurant, or other customer-facing use.

Where is this storefront property located?

The property is located at 393 Woodward Ave Kingsford, MI.

What is the asking price?

The asking price for this property is $189,900.

What are key features of this property?

This property features: 2,175‑square‑foot commercial building at 393 Woodward Ave; Commercial kitchen with major appliances included in the sale; Major renovations completed in recent years