Multi-Suite Office
For Sale
$2,500,000
1021/1055 W Baraga Avenue, Marquette, MI 49855
COM/IND/BUS OPP, Marquette, MI
Property Size12,288 SF
Lot Size1.72 Acres
Price / SF$203.45
Days on Market170
Property Features for 1021/1055 W Baraga Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Parking Lot
Patio and Porch features
Patio
Exterior features
Deck/Patio, Wheelchair Access
Accessibility
Accessible Approach with Ramp
Lot features
Cul-De-Sac, Dead End
Subdivision
Marquette (52016)
Standard status
Active
Size
12,288 SF
Lot size
1.72 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Roof type
Asphalt
Buildings
2
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
FRAN SEVEGNEY
(906) 869-7465
Added: May 13
Changed: Oct 21
Last Checked: Oct 29 at 6:06AM
MLS# 50207572
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.
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Investment Insights
Based on property information with market context.
The Marquette property comprises two office buildings with 12,288 square feet combined. The 5,760-square-foot building at 1021 W Baraga Avenue is owner occupied. At 1055 W Baraga Avenue, a 6,528-square-foot building is arranged as three suites; Suite C is leased.
Built in 1988, the buildings have central air conditioning, forced-air heat, parking lot, and patio. Accessibility features include an accessible approach with ramp and wheelchair access.
Built in 1988, the buildings have central air conditioning, forced-air heat, parking lot, and patio. Accessibility features include an accessible approach with ramp and wheelchair access.
Key Highlights
- Two office buildings totaling 12,288 square feet
- 1021 W Baraga Avenue contains 5,760 square feet and is owner occupied
- 1055 W Baraga Avenue offers 6,528 square feet across three suites; Suite C is leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$189,997
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,799,940
$3.8M
Cap Rate 7%
$2,714,243
$2.7M
Cap Rate 9%
$2,111,078
$2.1M
Market Conditions
NOI Build-Up for 12,288 SF
Gross rent
$294.9K $24.00/SF
− Vacancy
−$41.6K −$3.38/SF
EGI
$253.3K $20.62/SF
− OpEx
−$63.3K −$5.15/SF
NOI
$190.0K $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%
$3,799,940
Cap Rate 7%
$2,714,243
Cap Rate 9%
$2,111,078
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.17M
NOI $189,997 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,329 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Explore this area
Business Placement
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two buildings provide a combination of owner-occupied space and leased office suites.
Where is this office building located?
The property is located at 1021/1055 W Baraga Avenue Marquette, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two office buildings totaling 12,288 square feet; 1021 W Baraga Avenue contains 5,760 square feet and is owner occupied; 1055 W Baraga Avenue offers 6,528 square feet across three suites; Suite C is leased
