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586 E 41 US Hwy

4,032 SF 100% Leased Retail Building Negaunee, MI 49866 $899,000 ($223/SF)

Executive Summary

INVESTMENT OPPORTUNITY! Are you looking to build equity? Take advantage of all this duplex has to offer starting with nearly 5 acres--340 feet of frontage--on one of the busiest sections of US 41 in the entire U.P. Even better, this property also adjoins the Iron Ore Heritage Trail. The best of both worlds; highway exposure & trail side. No wonder the Heritage Haus (sleeps 10) is a sought after vacation rental; close to everything! Home features 4032 square feet of remodeled living space. 4-5 bedrooms/2 baths on the Upper Level--and at $350 per night--s a lucrative short-term vacation rental. This space could easily become long-term or turn the entire home into a single residence. Ground level is another 3 bedroom apartment as well as spa/salon. Detached 32x20 propane heated garage for extra storage, or even a great space to rent bikes or repair snowmobiles. What a package: 2 homes and business space all under 1 roof with loads of parking. Home is on I beams and can be re-located. Back yard decks face the Iron Ore Heritage trail to hike, bike or snowmobile and the fire pit welcomes guests to gather to tell stories from the day's adventures. Imagine what this space can become by adding a wedding venue under the apple trees. This property capitalizes POTENTIAL!

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,032 SF
Building Class
C
Year Built
1978
Price
$899,000
Price Per SF
$223
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.02
Land Acres
4.43 AC
Zoning
B-2-BUS - Commercial Zoned District
Parking
10 Spaces (2.48 Spaces per 1,000 SF Leased)
Frontage
360 FT on US Hwy 41

Amenities

  • Pylon Sign
  • Tenant Controlled HVAC
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
52-10-124-050-10
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$165,400
  • Listing ID: 29858259

  • Date on Market: 10/23/2023

  • Last Updated:

  • Address: 586 E 41 US Hwy, Negaunee, MI 49866

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