Historic Downtown Mixed-Use
For Sale
$675,000
110 N 3rd St, Marquette, MI 49855
COMMERCIAL - Marquette, MI
Property Size2,728 SF
Price / SF$247.43
Days on Market59
Property Features for 110 N 3rd St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
80 - Other Areas
Standard status
Active
Size
2,728 SF
Listing Agency:
Five Water Realty
(906) 226-7300
Listed By:
Mackenzie Thomas
(906) 630-1082
Added: Jun 9
Changed: Aug 4
Last Checked: Aug 6 at 10:06AM
MLS# 26-437
Copyright © 2026 Eastern Upper Peninsula Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic brick building was built in 1870 and offers a mixed-use configuration with commercial storefronts on the main level and residential units on the upper floors. A basement provides additional storage and utility space. The property’s design emphasizes classic downtown character and supports diversified occupancy.
The building is located in downtown Marquette on N Third Street. Its position supports walkability and exposure to activity generated by nearby shops, restaurants, tourism, and university-related demand.
For tenants and operators, the storefront setup provides space for retail or service uses at street level, while the residential units above support a blended live/work environment within the same asset. For buyers, the building’s mixed-use layout and long-standing, historic downtown presence offer a practical structure for managing multiple income streams under one ownership.
The building is located in downtown Marquette on N Third Street. Its position supports walkability and exposure to activity generated by nearby shops, restaurants, tourism, and university-related demand.
For tenants and operators, the storefront setup provides space for retail or service uses at street level, while the residential units above support a blended live/work environment within the same asset. For buyers, the building’s mixed-use layout and long-standing, historic downtown presence offer a practical structure for managing multiple income streams under one ownership.
Key Highlights
- Historic brick building built in 1870 in downtown Marquette
- Mixed‑use layout with commercial storefronts on the main level and residential units above
- Located at 110 N 3rd Street on N Third Street
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 | $49.1k | $18.00 |
| − Vacancy | −$1.3k | −$0.47 |
| EGI | $47.8k | $17.53 |
| − OpEx | −$14.3k | −$5.26 |
| NOI | $33.5k | $12.27 |
2,728 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$478.3K
$418.5K – $558.0K
NOI $33,479 @ 7.0% cap · market cap 4.96%
Second Best
Mixed Use
$257.2K
$225.1K – $300.1K
NOI $18,005 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$803.4K
$703.0K – $937.3K
NOI $56,240 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 55%
Dining 24%
Shops & Services 22%
Ramada
Hotels & Casinos
7,592 visits/mo
0.2 miles
BP
Shops & Services
3,286 visits/mo
0.3 miles
Hampton Inn Marquette Waterfront
Hotels & Casinos
3,165 visits/mo
0.4 miles
Domino's Pizza
Dining
2,454 visits/mo
0.5 miles
Jimmy John's
Dining
2,197 visits/mo
0.4 miles
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic brick mixed-use building with street-level storefronts and residential units above in downtown Marquette.
Where is this mixed-use property located?
The property is located at 110 N 3rd St Marquette, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Historic brick building built in 1870 in downtown Marquette; Mixed‑use layout with commercial storefronts on the main level and residential units above; Located at 110 N 3rd Street on N Third Street
