High-Visibility Retail Space For
For Sale
Contact for pricing
w8145 US-2, Iron Mountain, MI 49801
6,300+ sq ft retail space on 1.15 acres.
Property Size6,328 SF
Lot Size1.15 Acres
Price / SF$109.83
Days on Market232
Property Features for w8145 US-2
General Information
Standard status
Active
Size
6,328 SF
Class
A
Total Parking Spaces
40
Lot size
1.15 Acres
Property subtype
Retail
Zoning
Comm
Investment Type
Owner/User
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Listing Agency:
Stephens Real Estate
Listed By:
Ryan Gordon · License #MI 6502420131
(906) 774-8570
Source:
Crexi
Added: Feb 16
Changed: Sep 29
Last Checked: Oct 5 at 4:50PM
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 Stephens Real Estate
Investment Insights
Based on property information with market context.
This commercial retail space offers high visibility in a thriving location. The modern building encompasses over 6,300 square feet and is situated on 1.15 acres. The property features frontage and high traffic counts. The open-concept layout provides flexibility in design, complemented by display windows, a rear overhead door, and dedicated restrooms. Positioned as an outlot in front of major retailers, the property benefits from accessibility and ample parking. A dedicated pole sign enhances visibility. An adjacent one-acre lot is available for purchase, offering additional frontage.
Key Highlights
- High‑visibility location with exceptional frontage and high traffic counts.
- Expansive 6,300+ sq ft modern building on 1.15 acres.
- Flexible open‑concept layout for customizable space design.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,089
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,780
$1.1M
Cap Rate 7%
$815,557
$815.6K
Cap Rate 9%
$634,322
$634.3K
Market Conditions
NOI Build-Up for 6,328 SF
Gross rent
$91.1K $14.40/SF
− Vacancy
−$9.6K −$1.51/SF
EGI
$81.6K $12.89/SF
− OpEx
−$24.5K −$3.87/SF
NOI
$57.1K $9.02/SF
Area
Dickinson County, MI
Vacancy
10.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,780
Cap Rate 7%
$815,557
Cap Rate 9%
$634,322
Alternative Uses
Best Use
Retail
$815.6K
$713.6K – $951.5K
NOI $57,089 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,401 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 49801, MI
11,479
Population
5,927
Households
1.9
Avg Household Size
46
Median Age
25%
College-Educated
95%
High-School Grad
123.9 sq mi
ZIP Area
93
Density / Sq Mi
$62,461
Median Household Income
$41,468
Median Earnings
$667
Median Rent
$157,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - 6,300+ sq ft retail space on 1.15 acres.
Where is this retail space located?
The property is located at w8145 US-2 Iron Mountain, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: High‑visibility location with exceptional frontage and high traffic counts.; Expansive 6,300+ sq ft modern building on 1.15 acres.; Flexible open‑concept layout for customizable space design.
