Mixed-Use Building with
409 Lake Linden Avenue, Laurium, MI 49913
For Sale
$159,900
A street-level salon layout is paired with an upstairs residence and a partially finished area.
Property Size1,312 SF
Price / SF$121.88
Days on Market39
Property Features for 409 Lake Linden Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Road Access
Mixed-Use Components
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Multifamily Units
Amenities
laundry area
Building Details
Year Built
Buildings
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS
(906) 225-5992
Listed By:
MARK HEINONEN · License MI #6501428222
(906) 299-2350
Source:
Tilleryrealtygroup
Added: Oct 5
Changed: Nov 11
Last Checked: Nov 11 at 10:25AM
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 COLDWELL BANKER SCHMIDT REALTORS
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Investment Insights
Based on property information with market context.
Located at 409 Lake Linden Avenue in Laurium, this 1,312-square-foot mixed-use building dates to 1904. The main floor has a salon setup with multiple workstations, a waiting area, a bathroom, and its own entrance. A laundry area sits at the rear of the commercial space.
The upper-level apartment includes a living room, kitchen, two bedrooms, and a full bathroom. An additional space in the building is partially finished, providing another area to complete. The property brings commercial and residential space together under one roof.
The upper-level apartment includes a living room, kitchen, two bedrooms, and a full bathroom. An additional space in the building is partially finished, providing another area to complete. The property brings commercial and residential space together under one roof.
Key Highlights
- 1,312‑square‑foot mixed‑use property built in 1904
- Street‑level salon area includes multiple workstations, a waiting area, bathroom, and separate entrance
- Upstairs apartment has a living room, kitchen, 2 bedrooms, 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
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
Business Placement
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
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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 street-level salon layout is paired with an upstairs residence and a partially finished area.
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: 1,312‑square‑foot mixed‑use property built in 1904; Street‑level salon area includes multiple workstations, a waiting area, bathroom, and separate entrance; Upstairs apartment has a living room, kitchen, 2 bedrooms, and full bathroom
