Mixed-Use Building with
409 LAKE LINDEN AVENUE, Laurium, MI 49913
For Sale
$159,900
LAURIUM, MI
Property Size1,312 SF
Price / SF$121.88
Days on Market31
Property Features for 409 LAKE LINDEN AVENUE
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Mixed-Use Components
Building Details
Year built
Listing Agency:
Marquette · Coldwell Banker Real Estate
(906) 225-5992
Listed By:
Mark Heinonen · License MI #6501428222
(906) 299-2350
Added: Oct 13
Changed: Nov 1
Last Checked: Nov 12 at 6:06AM
MLS# 50224687
Copyright © 2026 Coldwell Banker Schmidt REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1904, this 1312-square-foot mixed-use property combines a commercial area and residential apartment. The street-level space has multiple workstations, a waiting area, a bathroom, and its own entrance. A laundry area at the rear of the commercial space serves the residential tenants. Upstairs, the apartment includes a living room, kitchen, two bedrooms, and a full bathroom. A second space is partially finished.
The property is located on Lake Linden Avenue in Laurium, Michigan.
The property is located on Lake Linden Avenue in Laurium, Michigan.
Key Highlights
- 1312 square feet in a building constructed in 1904
- Street‑level commercial space with multiple workstations, waiting area, bathroom, and separate entrance
- Upstairs apartment with two bedrooms, living room, kitchen, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,672
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$233,440
$233.4K
Cap Rate 7%
$166,743
$166.7K
Cap Rate 9%
$129,689
$129.7K
Market Conditions
NOI Build-Up for 1,312 SF
Gross rent
$20.3K $15.48/SF
− Vacancy
−$3.6K −$2.77/SF
EGI
$16.7K $12.71/SF
− OpEx
−$5.0K −$3.81/SF
NOI
$11.7K $8.90/SF
Area
Houghton County, MI
Vacancy
17.90%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$233,440
Cap Rate 7%
$166,743
Cap Rate 9%
$129,689
Alternative Uses
Best Use
Retail
$166.7K
$145.9K – $194.5K
NOI $11,672 @ 7.0% cap · market cap 7.30%
Second Best
Mixed Use
$119.5K
$104.6K – $139.4K
NOI $8,364 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$248.5K
$217.5K – $290.0K
NOI $17,397 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Holiday Station Store
Shops & Services
8,897 visits/mo
0.5 miles
Demographics for 49913, MI
7,218
Population
3,990
Households
1.8
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
75.5 sq mi
ZIP Area
96
Density / Sq Mi
$50,469
Median Household Income
$31,667
Median Earnings
$678
Median Rent
$92,700
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A salon occupies the street-level commercial area, with a two-bedroom apartment above and a partially finished second space.
Where is this mixed-use property located?
The property is located at 409 LAKE LINDEN AVENUE Laurium, MI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 1312 square feet in a building constructed in 1904; Street‑level commercial space with multiple workstations, waiting area, bathroom, and separate entrance; Upstairs apartment with two bedrooms, living room, kitchen, and full bathroom
