Bayshore Drive Road, Rapid River, MI 49878

Building Details

Year built 2000 More

Roof type Metal More

Listing Agency: GROVER REAL ESTATE Show Phone

Listed By: DAVID BLEAU · License MI #6501463279 Show Phone

Added: Nov 12 Last Checked: Nov 13 at 11:06PM

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MLS# 50227527

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.

This 63-acre commercial property includes a 3,200-square-foot insulated shop built for trucks and heavy equipment. The building has 16-foot ceilings and four 12-by-14-foot overhead doors arranged for drive-through access. It was used for heavy equipment storage and repair, and has provisions for an outdoor wood boiler; the heating system may require repair or replacement. A cell tower site is also on the property, with a lease payment schedule extending through November 2052, subject to verification of terms and transfer rights.

The site has approximately 3,240 feet of frontage on US-2 and 1,260 feet along Bay Shore Drive. Natural gas and three-phase power are available at the road, and a UPPCO substation is approximately one mile away. The shop is about half a mile from the US-2 intersection.

Key Highlights

• 63 acres zoned commercial
• Approximately 3,240 feet of US‑2 frontage and 1,260 feet on Bay Shore Drive
• 3,200‑square‑foot insulated shop with 16‑foot ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,586

Cap Rate

3.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$551,720 $551.7K

Cap Rate 7%

$394,086 $394.1K

Cap Rate 9%

$306,511 $306.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$48.0K $15.00/SF

− Vacancy

−$8.6K −$2.69/SF

EGI

$39.4K $12.32/SF

− OpEx

−$11.8K −$3.69/SF

NOI

$27.6K $8.62/SF

Area

Delta County, MI

Vacancy

17.90%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$551,720

Cap Rate 7%

$394,086

Cap Rate 9%

$306,511

Alternative Uses

Best Use

Retail

$394.1K

$344.8K – $459.8K (±1% cap)

NOI $27,586 @ 7.0% cap · market cap 3.45%

Second Best

Industrial

$282.7K

$247.4K – $329.9K (±1% cap)

NOI $19,791 @ 7.0% cap · market cap 2.48%

Theoretical Best

Office A

$626.4K

$548.1K – $730.8K (±1% cap)

NOI $43,850 @ 7.0% cap · market cap 5.49%

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

Property Analytics

Current Use

Commercial land

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 49878, MI

3,566

Population

2,524

Households

1.4

Avg Household Size

54

Median Age

22%

College-Educated

94%

High-School Grad

455.6 sq mi

ZIP Area

8

Density / Sq Mi

$63,750

Median Household Income

$38,919

Median Earnings

$875

Median Rent

$165,200

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

Frequently Asked Questions

What type of property is this?

Commercial land - A highway-fronted acreage assemblage includes a drive-through service building and an existing cell tower lease site.

Where is this commercial land located?

The property is located at Bayshore Drive Road Rapid River, MI.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 63 acres zoned commercial; Approximately 3,240 feet of US‑2 frontage and 1,260 feet on Bay Shore Drive; 3,200‑square‑foot insulated shop with 16‑foot ceilings