Two-Room Office Building Corner
56638 Calumet Avenue Calumet, MI 49913
56638 Calumet Avenue, Calumet, MI, 49913
$395,000
For Sale
$395,000
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 Market243
Property Features for 56638 Calumet Avenue
General Information
- Standard status
- Active
- Size
- 1,332 SF
Listing agency
CENTURY 21 AFFILIATED
(906) 281-1848
Listed by
KRISTINE WEIDNER (JUKURI)
(906) 281-1848
Source
Exprealty
Added: Nov 21, 2025 Updated: Jul 22 at 9:35AM Checked: Jul 22 at 9:35AM
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
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.7k | $17.04 |
| − Vacancy | −$5.1k | −$3.82 |
| EGI | $17.6k | $13.22 |
| − OpEx | −$4.4k | −$3.31 |
| NOI | $13.2k | $9.92 |
1,332 SF · lease $17.04/SF/yr · vacancy 22.40% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Visit Keweenaw
Travel Agency
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FAQs
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
