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    Retail or Office Space With Dual Entrances Title is generated by Realmo AI

    109 E Michigan Avenue, Marshall, MI 49068

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    For Lease
    $12 SF/Yr $1,680/Mo (calc)

    COMMERCIAL - Marshall, MI

    Type:Retail
    Property size:
    1,680 SF
    Lot size:
    0.01 Acres
    Added:
    Jun 7, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 7 at 11:06 pm

    Property Features for 109 E Michigan Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Fireplace
    1
    Standard status
    Active
    APN
    53-001-011-02
    Size
    1,680 SF
    Lot size
    0.01 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PRT OF LOT 11 OF THE UPPER VILLAGE OF MARSHALL, ACCORDING TO THE PLAT THERE OF RECORDED IN LIBER 3 OF PLATS, ON PAGES 12 & 13, IN THE OFFICE OF THE REGISTER OF DEEDS FOR CALHOUN COUNTY, MICHIGAN, DESCRIBED AS COMM AT THE NE CORNER OF SAID LOT 11; THN S 89 56 09 W, 46.00 FT ALONG THE N LINE OF SAID LOT 11; THN S 00 43 50 E 26.00 FT PARALLEL TO THE E LINE OF SAID LOT 11 TO THE POB, THN CONTINUING S

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Building materials
    Brick

    We can help!

    Listing Contact
    Brian Fazekas
    Brian Fazekas

    Listing agent Brian Fazekas License #6506047758

    Listing office Berkshire Hathaway HomeServices Michigan Real Estate 105 W Michigan Ave., Kalamazoo, MI

    Listing date Jun 7, 2026

    MLS# 26027694

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 1,700 sq ft of versatile retail/office space in a downtown setting
    • Brick construction with forced‑air heating and central air conditioning
    • Front and rear entrances, plus nearby city parking on both sides for easy access
    • Interior features include exposed brick walls and window coves
    • Fireplace on site
    • Lease terms: $1,700/month plus utilities

    Overview

    This versatile retail or office suite offers approximately 1,680 square feet of functional space configured to support a range of boutique uses. The interior features exposed brick walls and distinctive window coves, creating a built-in design that can work for retail, office, or small-service concepts. Notably, the unit includes both front and rear entrances, supporting flexible customer and staff flow.

    Located in downtown Marshall, the property benefits from convenient city parking just steps away on either side, helping reduce friction for walk-in traffic and short visits. The combination of dual access points and nearby parking can be especially useful for tenants that need straightforward ingress and egress without relying solely on a single entry.

    The layout and finishes make the space well-suited for operators looking for an in-town presence with adaptable use characteristics. Tenants may find the exposed brick and window coves particularly helpful for businesses seeking a distinctive interior without starting from scratch. With easy parking in the immediate area and convenient front-and-rear entry options, the suite is positioned to serve both daytime business needs and retail-facing customer activity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Unwind Salon And Spa Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Marshall
    County
    Calhoun
    State
    Michigan
    Longitude
    -84.958263
    Latitude
    42.272249

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    FAQs

    What type of property is this?
    Retail space - Versatile downtown suite with front and rear access, exposed brick character, and nearby public parking for easy customer flow.
    Where is this retail space located?
    The property is located at 109 E Michigan Avenue Marshall, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Approximately 1,700 sq ft of versatile retail/office space in a downtown setting; Brick construction with forced‑air heating and central air conditioning; Front and rear entrances, plus nearby city parking on both sides for easy access
    (269) 209-2286
    We can help!
    Listing Contact
    Brian Fazekas
    Brian Fazekas
    Real Estate License ID: 6506047758
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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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