Two-Room Office Building Corner
For Sale
$395,000
56638 Calumet Avenue, Calumet, MI 49913
Office building on a corner lot with three entrances, parking access from two roads, and two main rooms with shared amenities.
Property Size1,332 SF
Price / SF$296.55
Days on Market336
Property Features for 56638 Calumet Avenue
General Information
Standard status
Active
Size
1,332 SF
Taxes and HOA fees
Annual Taxes
$1,298
Listing Agency:
CENTURY 21 AFFILIATED
Listed By:
KRISTINE WEIDNER (JUKURI) · License #6502319714
(906) 281-1848
Source:
Exprealty
Added: Nov 21, 2025
Changed: Oct 14
Last Checked: Oct 23 at 10:14AM
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 CENTURY 21 AFFILIATED
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Investment Insights
Based on property information with market context.
The property is a commercial office building originally built in 1982 with an addition completed in 2000. The interior includes two main rooms that can be used as open space or divided into separate offices, supported by a restroom, storage room, and mechanical room. There are three entrances to the building, including the front foyer. Additional space includes an attic area that provides some storage. The building has a metal roof and natural gas forced air with central air; the roof is approximately 18+/- years old and the HVAC is approximately 13+/- years old.
The site is a corner lot at a high-traffic 4-way stoplight intersection along US Highway 41 (Calumet Avenue), with frontage at the intersection of US41, 6th Street Extension and Lake Linden Avenue. The paved parking lot provides access from both US41 and Lake Linden Avenue.
The property is subject to a Michigan Department of Transportation carpool parking lot contract, with terms available for buyer review after prequalification/preapproval/proof of funds and a signed non-disclosure agreement. The parcel is also subject to a utility easement. Showings are by appointment only.
The site is a corner lot at a high-traffic 4-way stoplight intersection along US Highway 41 (Calumet Avenue), with frontage at the intersection of US41, 6th Street Extension and Lake Linden Avenue. The paved parking lot provides access from both US41 and Lake Linden Avenue.
The property is subject to a Michigan Department of Transportation carpool parking lot contract, with terms available for buyer review after prequalification/preapproval/proof of funds and a signed non-disclosure agreement. The parcel is also subject to a utility easement. Showings are by appointment only.
Key Highlights
- Commercial office building on a corner lot at the US‑41 (Calumet Avenue)/6th Street Extension/Lake Linden Avenue intersection
- Two main rooms (approx. 27x19 and 29x17) that could be configured as separate spaces or used as‑is
- Three building entrances, including a front foyer, plus one restroom, storage room, and mechanical room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,210
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,200
$264.2K
Cap Rate 7%
$188,714
$188.7K
Cap Rate 9%
$146,778
$146.8K
Market Conditions
NOI Build-Up for 1,332 SF
Gross rent
$22.7K $17.04/SF
− Vacancy
−$5.1K −$3.82/SF
EGI
$17.6K $13.22/SF
− OpEx
−$4.4K −$3.31/SF
NOI
$13.2K $9.92/SF
Area
Houghton County, MI
Vacancy
22.40%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,200
Cap Rate 7%
$188,714
Cap Rate 9%
$146,778
Alternative Uses
Best Use
Office B
$188.7K
$165.1K – $220.2K
NOI $13,210 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.47M
$14.41M – $19.21M
NOI $1,152,897 @ 7.0% cap · market cap 291.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
337
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office building on a corner lot with three entrances, parking access from two roads, and two main rooms with shared amenities.
Where is this office building located?
The property is located at 56638 Calumet Avenue Calumet, MI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Commercial office building on a corner lot at the US‑41 (Calumet Avenue)/6th Street Extension/Lake Linden Avenue intersection; Two main rooms (approx. 27x19 and 29x17) that could be configured as separate spaces or used as‑is; Three building entrances, including a front foyer, plus one restroom, storage room, and mechanical room
