Downtown Office Building with Two
608 Shelden Avenue Houghton, MI 49931
608 Shelden Avenue, Houghton, MI, 49931
$945,000
For Sale
$945,000
Office building with separate main-street and lakeshore-access levels, offering flexible floor plan configurations.
Property Size5,000 SF
Price / SF$189
Days on Market504
Property Features for 608 Shelden Avenue
General Information
- Standard status
- Active
- Size
- 5,000 SF
Listing agency
CENTURY 21 AFFILIATED
(906) 281-1848
Listed by
KRISTINE WEIDNER (JUKURI)
(906) 281-1848
Source
Exprealty
Added: Mar 5, 2025 Updated: Jul 21 at 3:20PM Checked: Jul 21 at 3:20PM
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.
This downtown office building features extensive remodeling and a flexible floor plan that can be used as one unit or separated into upper and lower offices. The main level includes one large open area, two private offices, a restroom, and a kitchenette area. The lower level offers a large conference room, one private office, an office/reception area, two restrooms, and two storage rooms that may support additional private office space.
The main level has access from Shelden Avenue, while the lower level has direct access from Lakeshore Drive. The property is serviced by fiber internet, and central air is provided for the main level only.
Recent improvements since 2019 include a new roof (approximately 6+ years), flooring, bathroom updates, some window replacements, interior ceiling insulation, interior painting, exterior painting, and a floor plan redesign. Public parking is available along Shelden Avenue, with approximately 3 to 6 parking spaces in the back of the building, subject to automobile size. City dumpster access is located on the lower back side of the building, subject to City terms and conditions.
The main level has access from Shelden Avenue, while the lower level has direct access from Lakeshore Drive. The property is serviced by fiber internet, and central air is provided for the main level only.
Recent improvements since 2019 include a new roof (approximately 6+ years), flooring, bathroom updates, some window replacements, interior ceiling insulation, interior painting, exterior painting, and a floor plan redesign. Public parking is available along Shelden Avenue, with approximately 3 to 6 parking spaces in the back of the building, subject to automobile size. City dumpster access is located on the lower back side of the building, subject to City terms and conditions.
Key Highlights
- Office building with main‑street (Shelden Ave) access on the main level and direct Lakeshore Drive access on the lower level
- Flexible layout: use as one unit or split into two units (upper and lower levels)
- Main level includes a large open area, 2 private offices, restroom, and kitchenette area
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 | $85.2k | $17.04 |
| − Vacancy | −$19.1k | −$3.82 |
| EGI | $66.1k | $13.22 |
| − OpEx | −$16.5k | −$3.31 |
| NOI | $49.6k | $9.92 |
5,000 SF · lease $17.04/SF/yr · vacancy 22.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$708.4K
$619.8K – $826.4K
NOI $49,586 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$61.82M
$54.10M – $72.13M
NOI $4,327,690 @ 7.0% cap · market cap 457.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Joe Evans - Ameriprise ...
Financial Advisor
WorkLiveUP.com
Employment Agency
Pro Gigs
Employment Agency
Marketing Department Inc.
Advertising Agency
James L La ...
Financial Advisor
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FAQs
What type of property is this?
Office building - Office building with separate main-street and lakeshore-access levels, offering flexible floor plan configurations.
Where is this office building located?
The property is located at 608 Shelden Avenue Houghton, MI.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Office building with main‑street (Shelden Ave) access on the main level and direct Lakeshore Drive access on the lower level; Flexible layout: use as one unit or split into two units (upper and lower levels); Main level includes a large open area, 2 private offices, restroom, and kitchenette area
