Remodeled Retail/Office
S 103 S Division Street Unit SourceFi Bellaire, MI 49615
S 103 S Division Street Unit SourceFi, Bellaire, MI, 49615
$245,000
For Sale
$245,000
Remodeled commercial building on a high-traffic state highway with handicap accessibility, updated finishes, and on-site parking easement.
Property Size1,400 SF
Lot Size0.23 Acres
Price / SF$175
Days on Market185
Property Features for S 103 S Division Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 1,400 SF
- Lot size
- 0.23 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1960
Listing agency
(231) 360-0739
Listed by
Keller Williams Northern Michigan
(231) 360-0739
Source
Xome
Added: Jan 17 Updated: Jul 19 at 1:40AM Checked: Jul 21 at 3:00AM
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 Keller Williams Northern Michigan
Investment Insights
Based on property information with market context.
This remodeled commercial building offers approximately 1,400 square feet of versatile space with plenty of natural light. Interior finishes include low-maintenance tile floors, and the exterior features vinyl siding. The property is handicap accessible and includes two bathrooms. A shed at the back of the building provides additional storage. The most recent use was as a Subway restaurant, and the layout is described as suitable for a range of businesses, including retail, office, salon, and gallery uses.
The property is located on a highly traveled state highway, M-88, in the Village of Bellaire. The parcel is described as 50’ x 200’ and includes an easement for parking and driveway access, supporting convenient entry and exit for customers and staff. The listing is for the real estate only, and the seller notes openness to Fox’s Pizza Den franchise options, including lease arrangements, if a tenant wants to work with that brand.
The property is located on a highly traveled state highway, M-88, in the Village of Bellaire. The parcel is described as 50’ x 200’ and includes an easement for parking and driveway access, supporting convenient entry and exit for customers and staff. The listing is for the real estate only, and the seller notes openness to Fox’s Pizza Den franchise options, including lease arrangements, if a tenant wants to work with that brand.
Key Highlights
- Remodeled 1,400 SF commercial building on highly traveled state highway M‑88 in the Village of Bellaire
- 50’ x 200’ parcel includes an easement for parking and driveway access
- Handicap accessible with two bathrooms
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.7k | $15.48 |
| − Vacancy | −$910 | −$0.65 |
| EGI | $20.8k | $14.83 |
| − OpEx | −$6.2k | −$4.45 |
| NOI | $14.5k | $10.38 |
1,400 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$207.6K
$181.7K – $242.2K
NOI $14,533 @ 7.0% cap · market cap 5.93%
Second Best
Office B
$205.0K
$179.4K – $239.2K
NOI $14,349 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$249.1K
$218.0K – $290.7K
NOI $17,440 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Subway
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Remodeled commercial building on a high-traffic state highway with handicap accessibility, updated finishes, and on-site parking easement.
Where is this retail space located?
The property is located at S 103 S Division Street Unit SourceFi Bellaire, MI.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Remodeled 1,400 SF commercial building on highly traveled state highway M‑88 in the Village of Bellaire; 50’ x 200’ parcel includes an easement for parking and driveway access; Handicap accessible with two bathrooms
