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    Marinette Mixed-Use Building For Sale Title is generated by Realmo AI

    605 MAIN ST, Marinette, WI 54143

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    For Sale
    $425,000

    COMMERCIAL - Marinette, WI

    Type:Office
    Lot size:
    0.52 Acres
    Added:
    Sep 18, 2024
    Days on Market:
    623
    Last Refresh:
    Jun 2 at 8:06 pm

    Property Features for 605 MAIN ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bedrooms
    3
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 1
    Parking features
    Garage
    Standard status
    Active
    APN
    251-04438.000
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    MRL CO 1ST ADD SEC B LOTS 6 7 & 8 BLK 36
    Tax Annual Amount
    2571

    Utilities

    Heating system
    Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    Frame
    Roof type
    Composition, Shingle

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    Listing Contact
    JOHN FRANCIS

    Listing agent JOHN FRANCIS License #38506 - 90

    Listing office SHOREWEST REALTORS - NORTHERN REALTY & LAND 13435 Weller Rd, Mountain, WI

    Listing date Sep 18, 2024

    MLS# 209134 Listing URL

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

    HighLights

    • Commercial and residential mixed‑use building
    • Large 50' x 49' space suitable for business or additional apartments
    • Upstairs apartment features 3 large bedrooms, stainless steel appliances, and pantry
    • Triple lot with large garage
    • Includes laundry room with washer and dryer
    • Full basement for storage or other uses

    Overview

    This mixed-use property in Marinette, WI, features both commercial and residential spaces, along with a large garage, situated on a triple lot. The upstairs apartment includes three bedrooms with closets and built-in shelves, a kitchen equipped with a stainless steel refrigerator and stove, a pantry, a living room measuring 17 feet by 22 feet, a dining room, and a full bathroom. The main level includes a laundry room with a washer and dryer, two bathrooms, a library, a bar room, a lounge, and a 50-foot by 49-foot space suitable for a business or additional apartments. A full basement is also included. The property spans 0.52 acres. The apartment's primary bedroom measures 16 feet by 13 feet, the second bedroom is 14 feet by 12 feet, and the third bedroom is 10 feet by 17 feet. There are three bathrooms in total, including two full bathrooms and one half bathroom. This property presents a potential investment opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Marinette
    County
    Marinette
    State
    Wisconsin
    Longitude
    -87.6103878
    Latitude
    45.09088375

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    FAQs

    What type of property is this?
    Mixed-use property - Commercial and residential building with a large garage on triple lot.
    Where is this mixed-use property located?
    The property is located at 605 MAIN ST Marinette, WI.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Commercial and residential mixed‑use building; Large 50' x 49' space suitable for business or additional apartments; Upstairs apartment features 3 large bedrooms, stainless steel appliances, and pantry
    (715) 276-2301
    We can help!
    Listing Contact
    JOHN FRANCIS
    Real Estate License ID: 38506 - 90
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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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