Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    301 Garfield Ave Marquette, MI 49855

    Sponsored
    For Sale
    $224,000

    Vacant Land - Marquette, MI

    Lot size:
    4.00 Acres
    Days on Market:
    502
    Last Refresh:
    Jan 24 at 8:06 pm

    Property Features for 301 Garfield Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi-Family,Residential
    APN
    52-002-614-70 & 52-002-614-93
    Exterior features
    Street Lights
    Lot size
    4.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    THERESA HUNTER
    THERESA HUNTER

    Select Realty (906) 228-2772

    Listing agent THERESA HUNTER (906) 228-2772

    Listing date Sep 10, 2024

    MLS# 50154928 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Marquette Land with City View

    This is a 4-acre vacant land parcel located in the city of Marquette, MI. The site offers views of the city and has access off W Ridge, with frontage on W Ridge and Lincoln Ave. The property is zoned for Multi-Family and Residential use, making it suitable for various development opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Marquette
    County
    Marquette
    State
    Michigan
    Longitude
    -87.413877
    Latitude
    46.548782

    Nearby Similar for Sale

    • New
      $450,000
      2,512 SF

      Marquette Commercial Property with Apartment

      Versatile commercial property with residential opportunities and income potential.
      325 Erickson St, Marquette, MI 49855
      View Details
    • $350,000
      2,408 SF

      Marquette Commercial Investment Opportunity

      Commercial office/retail building on US 41 Business Corridor.
      1104 Washington St, Marquette, MI 49855
      View Details
    • $889,000
      3,456 SF

      Downtown Marquette Turnkey Business Opportunity

      Profitable coffee shop with two apartments in downtown Marquette.
      223 W Washington St, Marquette, MI 49855
      View Details
    • $624,900
      1,962 SF

      Commercial Building with Living Quarters

      Commercial building with living quarters in a prime location.
      521 W Washington St, Marquette, MI 49855
      View Details
    • $569,000
      4,258 SF

      Marquette 5-Plex Income Opportunity

      Five-unit apartment building near downtown Marquette.
      421 N Front St, Marquette, MI 49855
      View Details
    • $3,500,000

      Large Retail Space For Sale

      Over 18,000 SF retail property with repurposing potential.
      919 W Baraga Ave, Marquette, MI 49855
      View Details
    • $995,000
      6,048 SF

      Downtown Marquette Multi-Use Property

      High-return office & apartment complex. Prime location, great income.
      321 Front St, Marquette, MI 49855
      View Details
    • $3,800,000
      9,500 SF

      Prime Marquette Industrial Property

      US-41 Corridor, Multi-Building Opportunity
      2100 Us41, Marquette, MI 49855
      View Details
    • $949,000
      13,000 SF

      Marquette Industrial Property - $949,000

      High-traffic US-41 location, 13,000 sq ft.
      4250 Us Highway 41, Marquette, MI 49855
      View Details
    • $3,900,000
      18,100 SF

      Prime Marquette Industrial Corner

      18,100 sq ft industrial building on 3.86 acres.
      919 Baraga Ave, Marquette, MI 49855
      View Details
    • $1,000,000
      4,008 SF

      Prime Marquette Liquor Store Investment

      Turnkey Liquor Store, High Traffic Location
      700 Chippewa Sq, Marquette, MI 49855
      View Details
    • $79,900

      Established Marquette Business Opportunity

      Thriving Shipping Business - Turnkey Operation
      1471 Washington St, Marquette, MI 49855
      View Details

    FAQs

    What type of property is this?
    Land - Vacant land in Marquette, MI, with city views.
    Where is this land located?
    The property is located at 301 Garfield Ave Marquette, MI.
    What is the asking price?
    The asking price for this property is $224,000.
    What are key features of this property?
    This property features: - Prime location in the city of Marquette.; - Building site with a VIEW of the city.; - Access off W Ridge.
    (906) 250-1981
    Request Owner's contact information
    301 Garfield Ave Marquette, MI 49855
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    301 Garfield Ave
    Marquette, MI 49855
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    301 Garfield Ave Marquette, MI 49855
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    THERESA HUNTER
    THERESA HUNTER
    Real Estate License ID: UPAR
    (906) 250-1981
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.