Listing Agency: NORTHERN MICHIGAN LAND BROKERS - H Show Phone

Listed By: JEREMY ROWE · License #UPAR Show Phone

Added: Dec 12, 2025 Changed: Sep 3 Last Checked: Oct 6 at 4:06AM

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MLS# 50196031

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 mixed-use property combines a remodeled storefront with an upstairs apartment, creating commercial and residential space within the same building. The upper level also includes attic area that can serve as a bedroom or storage, along with a private deck. The property measures 2,259 square feet on 0.52 acres and includes public water service.

Located at 52062 Duncan Avenue in Hubbell, Michigan, the offering occupies 3 lots that provide parking. Included equipment consists of 2 stand-up freezers, a chest freezer, an ice cream display freezer, a commercial glass-door refrigerator, a washer, a dryer, a refrigerator, and a dishwasher. New coolers have also been installed as part of the property improvements.

Key Highlights

• 2,259‑square‑foot mixed‑use property on 0.52 acres
• Remodeled storefront with new coolers
• Upstairs apartment with private deck

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,699

Cap Rate

7.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$433,980 $434.0K

Cap Rate 7%

$309,986 $310.0K

Cap Rate 9%

$241,100 $241.1K

Market Conditions

NOI Build-Up for 2,259 SF

Gross rent

$35.2K $15.60/SF

− Vacancy

−$6.3K −$2.79/SF

EGI

$28.9K $12.81/SF

− OpEx

−$7.2K −$3.20/SF

NOI

$21.7K $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%

$433,980

Cap Rate 7%

$309,986

Cap Rate 9%

$241,100

Alternative Uses

Best Use

Specialty Retail

$310.0K

$271.2K – $361.7K (±1% cap)

NOI $21,699 @ 7.0% cap · market cap 7.24%

Second Best

Retail

$287.1K

$251.2K – $335.0K (±1% cap)

NOI $20,097 @ 7.0% cap · market cap 6.70%

Theoretical Best

Multifamily LT 5

$27.93M

$24.44M – $32.59M (±1% cap)

NOI $1,955,250 @ 7.0% cap · market cap 651.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Northern Lights Party ... Grocery & Convenience Store

Suggested Use

Top Pick Furniture & Home Goods Grocery & Convenience Store Garden Center Computer & Electronic Repair Tech Support Center Restaurant

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

53

Businesses Nearby

Explore this area Business Placement

Demographics for 49945, MI

2,650

Population

2,247

Households

1.2

Avg Household Size

51

Median Age

25%

College-Educated

92%

High-School Grad

149.0 sq mi

ZIP Area

18

Density / Sq Mi

$52,866

Median Household Income

$32,168

Median Earnings

$495

Median Rent

$142,800

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 mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Updated storefront with an upstairs apartment and commercial refrigeration equipment.

Where is this mixed-use property located?

The property is located at 52062 Duncan Avenue Hubbell, MI.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 2,259‑square‑foot mixed‑use property on 0.52 acres; Remodeled storefront with new coolers; Upstairs apartment with private deck