Houghton, NY Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Houghton, New York Market population: 8K. Compare commercial properties across all major asset classes...

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📊 Average Cap Rate For Houghton MI Properties: 6.86%

⭐ Featured

190 Manhattan Ave, Buffalo, NY â€“ Prime Multifamily Investment with 7.56% Cap Rate

$6,500,000

Buffalo Multifamily

Discover a compelling investment in Buffaloâ€™s vibrant market with this 65,000-square-foot garden-style apartment prope...

Cap Rate 7.56%

NOI $491,400

Size 65,000 SF

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📊 Avg Property Tax Rate For Houghton MI Properties: 1.2300%

⭐ Featured

Prime Buffalo Multifamily Investment: 12-Unit Apartment Building with 6.16% Cap Rate

$1,750,000

Buffalo Multifamily

Discover a compelling multifamily investment opportunity in Buffalo, NY. This 12-unit apartment building, priced at $1,7...

Cap Rate 6.16%

NOI $107,842

Size 8,640 SF

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Investor Questions For Houghton MI

Common questions from investors exploring commercial real estate in Houghton MI.

What's the overall investment potential of Houghton, MI, considering its demographics and economy? +

Houghton's 39.2% poverty rate and $27,661 median household income indicate a challenging market, but the 91.5% health insurance coverage and 10.3-minute average commute time suggest a relatively stable workforce, which could be attractive for investors looking for affordable rental opportunities, particularly given the city's diverse economy with top industries like Transportation & Warehousing and Professional, Scientific, & Management services.

How does the ethnic diversity and income inequality in Houghton impact the real estate market? +

The city's ethnic diversity, with 44.7% White, 44.0% White Non-Hispanic, and 5.9% Asian populations, combined with a GINI coefficient of 0.534, indicates a mix of economic backgrounds, which could lead to a varied demand for different types of housing, and with a median property value of $127,900, investors may find opportunities in catering to these diverse needs, especially considering the relatively low median property taxes of $888.

What are the implications of Houghton's commute patterns and healthcare coverage for real estate investors? +

The short 10.3-minute average commute time, with 91.5% of the population having health insurance, suggests a population with good access to employment and healthcare, making it an attractive location for renters, which in turn could provide a stable rental income stream for investors, especially those investing in properties near major employment hubs like Transportation & Warehousing and Finance & Insurance.

How does the poverty rate and employment population affect the quality of tenants in Houghton? +

While the 39.2% poverty rate is a concern, the fact that 91.5% of the population has health insurance and there are 3,201 employed individuals suggests a working-class market with some employment stability, which could translate to reliable tenants for rental properties, particularly if investors target properties that cater to the needs of workers in the city's top industries.

What role does the homeownership rate and median property value play in Houghton's real estate investment landscape? +

The 37.1% homeownership rate and median property value of $127,900 indicate a market where rental properties could be in demand, especially considering the city's young population with a median age of 21.9, which might prefer renting over buying, and with the right investment strategy, targeting this demographic could yield promising returns, especially in a market with relatively low property taxes and a diverse economic base.

Houghton MI Real Estate & City Facts

Key facts and real estate information about Houghton MI.

What are some of the best neighborhoods to live in Houghton? +

Some of the best neighborhoods to live in Houghton include Forest Estates, a peaceful and family-friendly neighborhood with beautiful trees and clean surroundings. Other options include the areas near Ray Kestner Waterfront Park and the Michigan Tech/Nara Trails. Additionally, neighborhoods like Calumet and Laurium are less expensive and offer great hiking trails and outdoor recreation opportunities.

What are some fun things to do in Houghton? +

There are plenty of fun things to do in Houghton, including visiting the A.E. Seaman Mineral Museum, exploring the Nara Nature Park, and hiking or biking at the Michigan Tech/Nara Trails. You can also visit the Isle Royale National Park, take a stroll along the Portage Lake Lift Bridge, or enjoy the beautiful beaches at Twin Lakes State Park. In the winter, you can ski or snowboard at the nearby Mont Ripley ski area.

What is the food scene like in Houghton? +

The food scene in Houghton is thriving, with a variety of restaurants serving everything from sushi to seafood. Some popular spots include Sky Sushi, Suomi Home Bakery & Restaurant, Ambassador, The Den, and Joey's Seafood. There are also plenty of great food trucks and cafes serving up delicious coffee and pastries. Be sure to try some of the local specialties, such as pasties and craft beer.

What are the pros and cons of living in Houghton? +

The pros of living in Houghton include its natural beauty, with plenty of opportunities for outdoor recreation and stunning scenery. The city also has a rich history and culture, with a variety of museums and historic sites to explore. However, some of the cons include the high cost of living, particularly when it comes to real estate, and the limited job opportunities in certain industries. Additionally, the winters can be harsh and snowy, which may not be suitable for everyone.

Is Houghton a good place to live? +

Overall, Houghton is a great place to live for those who love the outdoors and are looking for a small-town community with a rich history and culture. While it may have its drawbacks, the city's natural beauty, friendly residents, and variety of activities and attractions make it an attractive option for many people. Whether you're a student at Michigan Tech, a young professional, or a family looking for a quiet and safe place to raise your kids, Houghton has something to offer.