Commercial Building with Living
521 W Washington Street Marquette, MI 49855
521 W Washington Street, Marquette, MI, 49855
$550,000
For Sale
$550,000
COMMERCIAL - Marquette, MI
Property Size1,962 SF
Lot Size0.12 Acres
Price / SF$280.33
Days on Market411
Property Features for 521 W Washington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking features
- Off Street
- Patio and Porch features
- Patio
- Exterior features
- Deck/Patio
- Standard status
- Active
- Size
- 1,962 SF
- Lot size
- 0.12 Acres
Utilities
- Heating system
- Oil
- Cooling system
- Wall/Window Unit(s)
- Water source
- Public
Building Details
- Roof type
- Rubber, Shingle
Listing Agency
SELECT REALTY
(906) 228-2772
2363 US41 W, Marquette, MI
Listed by
SEAN LEAHY · License #UPAR
(906) 362-1158
Added: Jun 2, 2025 Checked: Jul 17 at 11:06 pm
MLS# 50176855
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 commercial building includes living quarters and a layout that supports multiple configurations to fit a range of uses. The space was previously operated as a jewelry store, and the current floor plan provides options for adapting the interior to different operational needs.
Located on W Washington Street in Marquette, the property sits across from the Marquette Food Co-op. It’s also described as being near Harlow Park, with a convenient bike path right out the back door.
All offers are subject to probate approval.
Located on W Washington Street in Marquette, the property sits across from the Marquette Food Co-op. It’s also described as being near Harlow Park, with a convenient bike path right out the back door.
All offers are subject to probate approval.
Key Highlights
- Great location on Washington Street across from the Marquette Food Co‑op.
- Commercial building with living quarters.
- Floor plan allows for multiple configurations.
Local Financial Insights For Office B
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 | $47.1k | $24.00 |
| − Vacancy | −$6.6k | −$3.38 |
| EGI | $40.4k | $20.62 |
| − OpEx | −$10.1k | −$5.15 |
| NOI | $30.3k | $15.46 |
1,962 SF · lease $24.00/SF/yr · vacancy 14.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$433.4K
$379.2K – $505.6K
NOI $30,336 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Commercial building with living quarters and a flexible floor plan, previously operated as a jewelry store.
Where is this storefront property located?
The property is located at 521 W Washington Street Marquette, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Great location on Washington Street across from the Marquette Food Co‑op.; Commercial building with living quarters.; Floor plan allows for multiple configurations.
