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    901 Razorback Dr Houghton, MI 49931

    For Sale
    $3,950,000

    High-Traffic 12-Unit Investment

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a 12-unit commercial plaza ideally situated in Houghton, Michigan, at 901 Razorback, within a high-traffic area boasting excellent visibility. The property, priced at $3,950,000, benefits from consistent occupancy and several long-term leases, ensuring a stable income stream for the new owner. Recent significant upgrades enhance the property's value and appeal, including complete rooftop HVAC unit replacements (2022-2024), a new silicone roofing system with a 12-year warranty (2024), asphalt maintenance (2024), and exterior painting (2023). Convenient onsite parking ensures easy access for tenants and patrons. A desirable drive-thru unit, historically occupied by a financial institution, adds further versatility. The diverse tenant mix includes financial, retail, food service, and general business services. Access is convenient via Sharon Avenue and Razorback Drive, with proximity to UP Health System, restaurants, and shopping. The property's location benefits from strong traffic flow connecting West Houghton to East Houghton and Michigan Technological University, and its placement within a major retail traffic pattern. Existing leases are transferable to the buyer. All information is believed accurate but not warranted

    Property Features for 901 Razorback Dr

    General Information

    Property type
    Land

    HighLights

    • 12‑unit commercial plaza in high‑traffic Houghton, MI location at 901 Razorback.
    • $3,950,000 asking price with consistent occupancy and long‑term leases.
    • Recent capital improvements include new HVAC (2022‑2024), silicone roof (2024), asphalt (2024), and exterior paint (2023).
    • Features convenient on‑site parking and a desirable drive‑thru unit.
    • Diverse tenant mix including financial, retail, food service, and general business services; existing leases transferable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Houghton
    County
    Houghton
    State
    Michigan
    Longitude
    -88.585746
    Latitude
    47.1094549

    Nearby Comparable

    • $1,250,000
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      Houghton Industrial Property

      Prime Houghton location, 4800+ sq ft.
      912 Razorback Dr, Houghton, MI 49931
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    • $3,950,000
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      Houghton Industrial Plaza Investment

      12-unit plaza, high-traffic location, strong leases.
      901 Razorback Dr, Houghton, MI 49931
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      Houghton Vacant Land Opportunity

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      Houghton Commercial Land For Sale

      8.7 acre commercial property in Houghton, MI ready for development.
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    • $343,000
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      Houghton Vacant Commercial Land Available

      8.7 acre vacant commercial property in Houghton, Michigan.
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      Portage, MI Vacant Commercial Land

      Commercial vacant land with high traffic and development potential.
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    Nearby Similar for Sale

    • $2,443,779
      3,039 SF

      New Retail Property For Sale

      New construction retail property with long-term lease and rental escalations.
      1006 W Sharon Ave, Houghton, MI 49931
      View Details
    • $1,250,000
      4,800 SF

      Houghton Industrial Property

      Prime Houghton location, 4800+ sq ft.
      912 Razorback Dr, Houghton, MI 49931
      View Details
    • $475,000
      4,470 SF

      Downtown Houghton Industrial Gem

      High-traffic location, versatile space, great views.
      815 Shelden Ave, Houghton, MI 49931
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    • $3,950,000
      18,750 SF

      Houghton Industrial Plaza Investment

      12-unit plaza, high-traffic location, strong leases.
      901 Razorback Dr, Houghton, MI 49931
      View Details

    FAQs

    What type of property is this?
    Land - High-Traffic 12-Unit Investment
    Where is this land located?
    The property is located at 901 Razorback Dr Houghton, MI.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: 12-unit commercial plaza in high-traffic Houghton, MI location at 901 Razorback.; $3,950,000 asking price with consistent occupancy and long-term leases.; Recent capital improvements include new HVAC (2022-2024), silicone roof (2024), asphalt (2024), and exterior paint (2023).
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    901 Razorback Dr Houghton, MI 49931
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    Houghton, MI 49931
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    Realmo Value Estimation

    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.

    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.

    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
    901 Razorback Dr Houghton, MI 49931
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