701 N Stephenson Avenue, Iron Mountain, MI 49801
COMMERCIAL - Iron Mountain, MI
- Added:
- Apr 23, 2026
- Days on Market:
- 55
- Last Refresh:
- Jun 16 at 3:06 pm
Property Features for 701 N Stephenson Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Off Street, Parking Lot
- Patio and Porch features
- Patio
- Exterior features
- Deck/Patio, Lawn Sprinkler, Wheelchair Access, Fence Owned
- Fencing
- Fenced
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 3,124 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 2200
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1947
- Roof type
- Asphalt
Listing agent HUGH HARRIS License #UPAR (906) 282-7348
Listing office HARRIS STATE WIDE 221 E A Street Suite C, Iron Mountain, MI (906) 828-1099
Listing date Apr 23, 2026
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.
HighLights
- Two commercial buildings on nearly an acre with frontage on Main Street and Highway US2
- Off‑street parking lot with drive‑through access
- Central air and forced‑air heating, plus ceiling fans
- Commercial freezer and full basement included
- 200 amp electric service
- Wheelchair‑accessible approach with ramp, fenced yard, and patio with lawn sprinkler system
Overview
Local Financial Insights For Specialty Retail
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 | $48.4k | $15.48 |
| − Vacancy | −$2.0k | −$0.65 |
| EGI | $46.3k | $14.83 |
| − OpEx | −$11.6k | −$3.71 |
| NOI | $34.7k | $11.12 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Iron Mountain City Attorneys Office — 100 E C St, Iron Mountain, MI 49801
Location Insight
- Map
- Local Demand
- City
- Iron Mountain
- County
- Dickinson
- State
- Michigan
- Longitude
- -88.059431
- Latitude
- 45.830309
