W8145 Us2 Hwy Iron Mountain, MI 49801
For Sale
$750,000
High-visibility commercial/retail space with seller financing available.
Property Size6,328 SF
Lot Size1.15 Acres
Price / SF$118.52
Days on Market48
Property Features for W8145 Us2 Hwy
General Information
Standard status
Active
Property type
Automotive properties, Storefront properties, Showrooms, Retail properties & Spaces
Size
6,328 SF
Net Rentable
6,328 SF
Total Parking Spaces
50
Lot size
1.15 Acres
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Listing Agency:
(906) 774-8570
Listed By:
Ryan
(906) 774-8570
Added: Jun 10
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 | $91.1k | $14.40 |
| − Vacancy | −$9.6k | −$1.51 |
| EGI | $81.6k | $12.89 |
| − OpEx | −$24.5k | −$3.87 |
| NOI | $57.1k | $9.02 |
6,328 SF · lease $14.40/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$815.6K
$713.6K – $951.5K
NOI $57,089 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$447.9K
$391.9K – $522.6K
NOI $31,353 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,401 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Penske Truck Rental — 2960 U.S. Hwy 2 E, Iron Mountain, Michigan 49801
Frequently Asked Questions
What type of property is this?
Automotive property - High-visibility commercial/retail space with seller financing available.
Where is this automotive property located?
The property is located at W8145 Us2 Hwy Iron Mountain, MI.
What is the asking price?
The asking price for this property is $750,000.
