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    Downtown Gladstone Mixed-Use Investment Title is generated by Realmo AI

    905 Delta, Gladstone, MI 49837

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    Claim this Listing
    For Sale
    $219,995

    1 to 4 Units,Investment,Office - Gladstone, MI

    Property size:
    3,694 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $59/SF
    Added:
    Nov 14, 2025
    Days on Market:
    183
    Last Refresh:
    May 16 at 11:06 am

    Property Features for 905 Delta

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    3+ Multi,Mixed Use,Professional Office,Commercial,Residential
    Security features
    Fire Alarm
    Interior features
    220 Volt Power, Alley, Cable Internet Installed, Cable TV Available, Cafe/Kitchen, Display Window, Electric Available, Gas Available, Living Quarters, Living Quarters Attached, Meeting Rooms, No Elevator, Private Restrooms, Public Restrooms, Restroom(s), Showroom, Sidewalks, Tile Floors, Trash Removal, Smoke/Fire Alarm
    Exterior features
    Alley
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    052-048-003-00
    Size
    3,694 SF
    Lot size
    0.08 Acres

    Utilities

    Utilities
    Cable Available, Electricity Available
    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1900
    Flooring type
    Tile
    Building materials
    Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    CHRISTOPHER GESTWICKI

    Listing agent CHRISTOPHER GESTWICKI License #6501438357

    Listing office STATE WIDE REAL ESTATE OF ESCANABA 2015 1st Ave North, Escanaba, MI

    Listing date Nov 14, 2025

    MLS# 50194332 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.

    HighLights

    • Prime downtown Gladstone location, steps from shops and dining.
    • Turn‑key mixed‑use property with established barbershop and three apartments for immediate income.
    • Two move‑in‑ready, beautifully maintained apartments with proven rental appeal.
    • Opportunity to increase value by renovating the third apartment.
    • Full basement with office area, plus a two‑car garage and extra storage.
    • Well‑maintained building with excellent visibility and curb appeal.

    Overview

    Located in downtown Gladstone, Michigan, this mixed-use property features a long-established barbershop on the main level, offering excellent street visibility and a strong community presence. Upstairs, there are three apartments. Two of the apartments are beautifully maintained and move-in-ready. The third apartment presents a fixer-upper opportunity. A full basement provides storage and utility space, along with an office area. The property also includes a two-car garage and extra storage space. The zoning is 3+ Multi, Mixed Use, Professional Office, Commercial, and Residential. The property size is 3694 square feet and the lot size is 0.08 acres. The current rental structure includes Apartment 1 renting for $550 per month with no lease or security deposit, Apartment 2 renting for $550 per month with a $450 security deposit and an active lease, Apartment 3 renting for $400 per month with no lease or security deposit, and the commercial space renting for $750 per month with no lease or security deposit. This property is located steps from local shops, dining, and the Gladstone Farmers Market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Gladstone
    County
    Delta
    State
    Michigan
    Longitude
    -87.020758
    Latitude
    45.84749

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with barbershop and apartments in downtown Gladstone.
    Where is this mixed-use property located?
    The property is located at 905 Delta Gladstone, MI.
    What is the asking price?
    The asking price for this property is $219,995.
    What are key features of this property?
    This property features: Prime downtown Gladstone location, steps from shops and dining.; Turn‑key mixed‑use property with established barbershop and three apartments for immediate income.; Two move‑in‑ready, beautifully maintained apartments with proven rental appeal.
    (906) 786-1308
    We can help!
    Listing Contact
    CHRISTOPHER GESTWICKI
    Real Estate License ID: 6501438357
    Learn More
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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.

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