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    220 S Maple St Manistique, MI 49854

    Sponsored
    For Sale
    $645,000

    Office - Manistique, MI

    Type:Office
    Property size:
    19,650 SF
    Lot size:
    1.19 Acres
    Days on Market:
    65
    Last Refresh:
    Jan 17 at 2:06 pm

    Property Features for 220 S Maple St

    General Information

    Special listing conditions
    Real Estate Owned
    Property type
    Commercial Sale
    Property subtype
    Office
    TransactionType
    Real Estate Owned
    Standard status
    Active
    Security features
    Fire Alarm, Security Lighting
    Zoning
    Other,Professional Office
    APN
    77-051-006-011-00
    Parking features
    Parking Lot
    Interior features
    Cafe/Kitchen, Internet Available, Delivery Door, Interior Sprinkler, Loading Dock(s), Lockers, Meeting Rooms, Off Street Loading, Private Restrooms, Public Restrooms, Reception Area, Restroom(s), Security Equipment, Security Syetem Owned, Sidewalks, Sprinkler System, Smoke/Fire Alarm
    Size
    19,650 SF
    Lot size
    1.19 Acres

    Utilities

    Heating system
    Forced Air, Zoned (Heating)
    Cooling system
    Central Air, Zoned

    Building Details

    Year built
    1981
    Building materials
    Block, Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    DAVID MUXLOW
    DAVID MUXLOW

    GROVER REAL ESTATE (906) 341-2131

    Listing agent DAVID MUXLOW (906) 341-2131

    Listing date Nov 14, 2025

    MLS# 50093766 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Like-New Office Building in Manistique

    This contemporary office building, reconstructed in 2020, is located in Manistique, on the north shore of Lake Michigan, with downtown dining and shopping within walking distance. The building offers almost 20,000 square feet of space. The layout includes 29 offices, 15 cubicles, a boardroom, and a conference meeting center that can accommodate over 70 attendees and includes a kitchen. There is also a separate, spacious employee kitchen. The property features a large shipping and receiving space with ample storage, as well as additional storage and supply rooms. It is equipped with zoned heating and air conditioning, a security system, and a sprinkler system. The building is OSHA and MIOSHA compliant and includes a high-density hard copy storage room suitable for businesses with hard copy compliance requirements. It is wired for technology needs. The property sits on a 1.19-acre lot. The building is located in a community that offers four-season recreation opportunities, including trails, lakes, rivers, fishing, hunting, and skiing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manistique
    County
    Schoolcraft
    State
    Michigan
    Longitude
    -86.245124322754
    Latitude
    45.956022236532

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    FAQs

    What type of property is this?
    Office building - Contemporary office building in Manistique, ready for business expansion.
    Where is this office building located?
    The property is located at 220 S Maple St Manistique, MI.
    What is the asking price?
    The asking price for this property is $645,000.
    What are key features of this property?
    This property features: - Like-new, fully reconstructed (2020) contemporary office building with ~20,000 sq ft of space.; - Includes **29 offices**, **15 cubicles**, boardroom, and a **large conference/meeting center (70+ capacity) with kitchen.**; - Features a large shipping/receiving area with ample storage, plus additional storage and supply rooms.
    (906) 341-2131
    Request Owner's contact information
    220 S Maple St Manistique, MI 49854
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    Manistique, MI 49854
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    220 S Maple St Manistique, MI 49854
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    We can help!
    Listing Contact
    DAVID MUXLOW
    DAVID MUXLOW
    Real Estate License ID: UPAR
    (906) 341-2131
    Learn more
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