Listing Agency: PREMIER REAL ESTATE, INC. p***@premierrealestate.org

Listed By: LORI RYMKOS · License #UPAR Show Phone

Source: Exprealty

Added: Mar 4, 2025 Changed: Oct 8 Last Checked: Oct 23 at 11:14AM

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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 PREMIER REAL ESTATE, INC.

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Investment Insights

Based on property information with market context.

This property is currently configured as an auto repair shop and offers more than 5,500 square feet of working space. It’s suited for automotive-focused operations or other uses that can accommodate a service-bay style layout.

The space is located on North Lincoln Road and benefits from high-traffic exposure and visibility for passing motorists. Address: 826 N Lincoln Road, Escanaba, MI 49829.

Key Highlights

• Automotive repair shop space totaling over 5,500 SF
• Located on North Lincoln Road in a high‑traffic corridor
• Offers visibility along one of the Upper Peninsula’s busiest highways

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,406

Cap Rate

8.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$688,120 $688.1K

Cap Rate 7%

$491,514 $491.5K

Cap Rate 9%

$382,289 $382.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,563 SF

Gross rent

$52.7K $9.48/SF

− Vacancy

−$3.6K −$0.64/SF

EGI

$49.2K $8.84/SF

− OpEx

−$14.7K −$2.65/SF

NOI

$34.4K $6.18/SF

Area

Delta County, MI

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$688,120

Cap Rate 7%

$491,514

Cap Rate 9%

$382,289

Alternative Uses

Best Use

Retail

$685.1K

$599.5K – $799.3K (±1% cap)

NOI $47,956 @ 7.0% cap · market cap 11.99%

Second Best

Industrial

$491.5K

$430.1K – $573.4K (±1% cap)

NOI $34,406 @ 7.0% cap · market cap 8.60%

Theoretical Best

Office A

$1.09M

$952.9K – $1.27M (±1% cap)

NOI $76,230 @ 7.0% cap · market cap 19.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Tom's Muff-Ex Mufflers Auto Repair Shop

Suggested Use

Top Pick Law Firm Parking Lot & Garage Grocery & Convenience Store Furniture & Home Goods Electrical Service Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

380

Businesses Nearby

10k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 100%

Gordon Food Service Groceries

9,730 visits/mo 0.3 miles

Demographics for 49829, MI

17,009

Population

8,729

Households

1.9

Avg Household Size

45

Median Age

19%

College-Educated

90%

High-School Grad

66.8 sq mi

ZIP Area

255

Density / Sq Mi

$45,808

Median Household Income

$31,366

Median Earnings

$667

Median Rent

$139,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Riverside Toyota of Escanaba — 2600 Ludington St, Escanaba, MI 49829
• Toyota Service — Escanaba, MI 49829
• JV Tow Truck Service — 2419 1st Ave N Ste 9, Escanaba, MI 49829
• Mobile Wrench heavy duty truck repair — 2 US Hwy 41, Escanaba, MI 49829
• Scoops and Stripes — 4207 us-41, escanaba, mi 49829

Frequently Asked Questions

What type of property is this?

Auto shop - Automotive repair shop space over 5,500 square feet with visibility along a high-traffic North Lincoln Road corridor.

Where is this auto shop located?

The property is located at 826 N Lincoln Road Escanaba, MI.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Automotive repair shop space totaling over 5,500 SF; Located on North Lincoln Road in a high‑traffic corridor; Offers visibility along one of the Upper Peninsula’s busiest highways