Convenience Store Building with Pole
For Sale
$349,900
6998 US2 Highway, Gladstone, MI 49837
COM/IND/BUS OPP, Gladstone, MI
Property Size1,500 SF
Lot Size0.29 Acres
Price / SF$233.27
Days on Market752
Property Features for 6998 US2 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Corner Lot, Main Street
Subdivision
Gladstone (21015)
Standard status
Active
Size
1,500 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
1850
Utilities
Heating system
Forced Air
Water source
Private
Building Details
Year built
1977
Roof type
Metal
Listing Agency:
STEPHENS REAL ESTATE
(906) 774-8570
Listed By:
RYAN GORDON
(906) 282-1644
Added: Oct 2, 2024
Changed: Oct 8
Last Checked: Oct 23 at 7:06PM
MLS# 50157074
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,500-square-foot commercial building occupies a 0.29-acre lot and offers an open interior suited to retail or convenience-store operations. The property previously operated as a party store and includes the existing fixtures, a parking lot, and a freestanding pole sign. Forced-air heating, a metal roof, and private water service are also in place. The building was constructed in 1977.
Located at 6998 US2 Highway in Gladstone, the property provides a highway-addressed commercial setting in Delta County. Included licensing covers food sales, lottery sales, Sunday sales, SDD, and SDM. Commercial zoning supports the property's stated retail-oriented classification.
Located at 6998 US2 Highway in Gladstone, the property provides a highway-addressed commercial setting in Delta County. Included licensing covers food sales, lottery sales, Sunday sales, SDD, and SDM. Commercial zoning supports the property's stated retail-oriented classification.
Key Highlights
- 1,500 square feet of open‑concept commercial building space
- 0.29‑acre lot at 6998 US2 Highway, Gladstone, MI 49837
- Commercial zoning with parking lot and freestanding pole sign
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,724
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,480
$394.5K
Cap Rate 7%
$281,771
$281.8K
Cap Rate 9%
$219,156
$219.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$27.0K $18.00/SF
− Vacancy
−$702 −$0.47/SF
EGI
$26.3K $17.53/SF
− OpEx
−$6.6K −$4.38/SF
NOI
$19.7K $13.15/SF
Area
Delta County, MI
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,480
Cap Rate 7%
$281,771
Cap Rate 9%
$219,156
Alternative Uses
Best Use
Specialty Retail
$281.8K
$246.6K – $328.7K
NOI $19,724 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$184.7K
$161.6K – $215.5K
NOI $12,931 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$293.6K
$256.9K – $342.6K
NOI $20,555 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49837, MI
10,086
Population
4,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
95%
High-School Grad
69.0 sq mi
ZIP Area
146
Density / Sq Mi
$65,905
Median Household Income
$35,156
Median Earnings
$782
Median Rent
$145,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial-zoned property with on-site parking, a freestanding pole sign, and included business licenses for several sales categories.
Where is this grocery and convenience store located?
The property is located at 6998 US2 Highway Gladstone, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,500 square feet of open‑concept commercial building space; 0.29‑acre lot at 6998 US2 Highway, Gladstone, MI 49837; Commercial zoning with parking lot and freestanding pole sign
