Mixed-Use Commercial
For Sale
$260,000
72 E Stephenson Avenue, Gwinn, MI 49841
COM/IND/BUS OPP, Gwinn, MI
Property Size1,288 SF
Lot Size0.16 Acres
Price / SF$201.86
Days on Market149
Property Features for 72 E Stephenson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed Use
Zoning description
Mixed Use
Parking features
Parking Lot
Subdivision
Town Of Swanzy
Lot features
Main Street
Standard status
Active
Size
1,288 SF
Lot size
0.16 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Roof type
Shingle
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
DAVE MINGAY
(906) 361-7604
Added: Jun 3
Changed: Oct 21
Last Checked: Oct 29 at 2:06AM
MLS# 50209979
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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Investment Insights
Based on property information with market context.
The 1,288-square-foot building sits on a 0.16-acre lot and is zoned Mixed Use. Its multiple spaces can be leased individually or combined. Independent tenants currently occupy the spaces, but no active leases are in place. The property has forced-air heat, a shingle roof, public water, and a parking lot.
Key Highlights
- 1,288‑square‑foot building on a 0.16‑acre lot
- Mixed Use zoning
- Multiple spaces can be leased individually or combined
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,807
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,140
$316.1K
Cap Rate 7%
$225,814
$225.8K
Cap Rate 9%
$175,633
$175.6K
Market Conditions
NOI Build-Up for 1,288 SF
Gross rent
$23.2K $18.00/SF
− Vacancy
−$603 −$0.47/SF
EGI
$22.6K $17.53/SF
− OpEx
−$6.8K −$5.26/SF
NOI
$15.8K $12.27/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,140
Cap Rate 7%
$225,814
Cap Rate 9%
$175,633
Alternative Uses
Best Use
Retail
$225.8K
$197.6K – $263.5K
NOI $15,807 @ 7.0% cap · market cap 6.08%
Second Best
Mixed Use
$121.4K
$106.3K – $141.7K
NOI $8,501 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$379.3K
$331.9K – $442.6K
NOI $26,553 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 49841, MI
7,193
Population
3,847
Households
1.9
Avg Household Size
41
Median Age
24%
College-Educated
96%
High-School Grad
227.6 sq mi
ZIP Area
32
Density / Sq Mi
$61,337
Median Household Income
$34,437
Median Earnings
$731
Median Rent
$150,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple spaces can be occupied separately or combined for a single business.
Where is this mixed-use property located?
The property is located at 72 E Stephenson Avenue Gwinn, MI.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,288‑square‑foot building on a 0.16‑acre lot; Mixed Use zoning; Multiple spaces can be leased individually or combined
