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    Prime Retail Building, Marlette, Michigan Title is generated by Realmo AI

    2941 Main Street, Marlette, MI 48453

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    Claim this Listing
    For Sale
    $735,000

    Real Estate Only - Marlette, MI

    Property size:
    8,320 SF
    Lot size:
    0.90 Acres
    Price / SF:
    $88/SF
    Added:
    Jul 1, 2025
    Days on Market:
    326
    Last Refresh:
    May 22 at 4:06 pm

    Property Features for 2941 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    33010001400400
    Size
    8,320 SF
    Lot size
    0.90 Acres

    Taxes and HOA fees

    Tax Annual Amount
    11467

    Building Details

    Year built
    2010
    Building materials
    Brick, Brick Veneer, Metal Siding
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Kim Hart
    Kim Hart

    Listing agent Kim Hart

    Listing office Hart Realty 3437 Main St, Marlette, MI

    Listing date Jul 1, 2025

    MLS# 20251013471 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Main Street location in downtown Marlette with high visibility and strong traffic counts.
    • Freestanding 8,320 SF building in excellent condition.
    • Built in 2010, offering modern construction and features.
    • Located on a major north‑south retail corridor (M‑53) providing convenient access.
    • Dedicated pylon sign on a hard corner for prominent branding.
    • Versatile open layout suitable for various commercial uses.

    Overview

    Located on Main Street in downtown Marlette, Michigan, this well-maintained, freestanding building offers 8,320 square feet of space. Constructed in 2010, the property is situated on a 0.90-acre lot. The building benefits from its location on the east side of Van Dyke Road (M-53), a major north-south retail corridor connecting Detroit to Port Austin, ensuring high visibility and strong traffic. A dedicated pylon sign on a hard corner provides prominent retail branding opportunities. Formerly occupied by Family Dollar, the space features an open layout suitable for various commercial uses, including retail stores, national chains, discount or dollar stores, medical or urgent care clinics, fitness or wellness centers, offices or professional services, convenience stores or specialty markets, community or government services, and showrooms or sales centers. This property presents a prime opportunity for a high-quality retail or service location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Dollar Discount Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marlette
    County
    Sanilac
    State
    Michigan
    Longitude
    -83.079807
    Latitude
    43.328261

    Nearby Similar for Sale

    • $79,900
      2,463 SF

      Marlette Office Building For Sale

      Solid brick building with multiple offices and recent updates.
      6446 MORRIS Street, Marlette, MI 48453
      View Details
    • $839,000
      9,000 SF

      Marlette Commercial/Industrial Opportunity

      Commercial/Industrial property in Marlette, MI, featuring 10 units.
      2736 Golf Course, Marlette, MI 48453
      View Details

    FAQs

    What type of property is this?
    Retail space - 8,320 SF freestanding building on Main Street in downtown Marlette.
    Where is this retail space located?
    The property is located at 2941 Main Street Marlette, MI.
    What is the asking price?
    The asking price for this property is $735,000.
    What are key features of this property?
    This property features: Prime Main Street location in downtown Marlette with high visibility and strong traffic counts.; Freestanding 8,320 SF building in excellent condition.; Built in 2010, offering modern construction and features.
    (810) 537-2047
    We can help!
    Listing Contact
    Kim Hart
    Kim Hart
    Real Estate License ID: 6502339975
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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