Building Details

Year built 1979

Roof type Shingle

Listing Agency: CENTURY 21 PRIME REALTY · Century 21 Real Estate p***@century21.com Show Phone

Listed By: AVIS MEYERS-KETOLA Show Phone

Added: Jul 7 Changed: Sep 4 Last Checked: Oct 6 at 1:06PM

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MLS# 50214280

Copyright © 2026 Upper Peninsula Association 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 5.11-acre commercial land offering includes a 1,200-square-foot building configured for office or meeting-center use. The improvements include an attached two-car garage, paved parking lot, forced-air heating, private water, and a shingle roof. Built in 1979, the building provides an existing structure alongside the larger parcel.

The property fronts State Highway M35 in Gwinn, Michigan, with direct highway exposure and access. It is identified for Commercial zoning, supporting consideration of the site and its existing improvements for a range of commercial applications.

Key Highlights

• 5.11‑acre commercial land parcel
• 1,200‑square‑foot building with office or meeting‑center configuration
• Attached two‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,554

Cap Rate

7.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,080 $371.1K

Cap Rate 7%

$265,057 $265.1K

Cap Rate 9%

$206,156 $206.2K

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$28.8K $24.00/SF

− Vacancy

−$4.1K −$3.38/SF

EGI

$24.7K $20.62/SF

− OpEx

−$6.2K −$5.15/SF

NOI

$18.6K $15.46/SF

Area

Marquette County, MI

Vacancy

14.10%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,080

Cap Rate 7%

$265,057

Cap Rate 9%

$206,156

Alternative Uses

Best Use

Office B

$265.1K

$231.9K – $309.2K (±1% cap)

NOI $18,554 @ 7.0% cap · market cap 7.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$353.4K

$309.2K – $412.3K (±1% cap)

NOI $24,739 @ 7.0% cap · market cap 9.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Gym & Fitness Center Bed & Breakfast Hotel & Motel Car Rental Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

7

Businesses Nearby

Explore this area Business Placement

Demographics for 49841, MI

7,193

Population

3,847

Households

1.9

Avg Household Size

41

Median Age

24%

College-Educated

96%

High-School Grad

227.6 sq mi

ZIP Area

32

Density / Sq Mi

$61,337

Median Household Income

$34,437

Median Earnings

$731

Median Rent

$150,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - Existing office and meeting-center improvements include an attached garage and paved customer parking.

Where is this commercial land located?

The property is located at 110 N Marshall Drive Gwinn, MI.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 5.11‑acre commercial land parcel; 1,200‑square‑foot building with office or meeting‑center configuration; Attached two‑car garage