Flexible Commercial Flex
For Sale
$950,000
405 Brookton Road, Marquette, MI 49855
Adaptable configuration allows the building to operate as one commercial space or several smaller units.
Property Size11,150 SF
Price / SF$85.20
Days on Market470
Property Features for 405 Brookton Road
General Information
Standard status
Active
Size
11,150 SF
Building Details
Buildings
1
Listing Agency:
RE/MAX 1ST REALTY
(906) 250-7344
Listed By:
KRISTINE GOUPILLE · License #6501288851
(906) 250-7344
Source:
Exprealty
Added: May 19, 2025
Changed: Aug 30
Last Checked: Aug 31 at 7:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX 1ST REALTY
Investment Insights
Based on property information with market context.
The 11,150-square-foot flex space at 405 Brookton Road provides a configurable commercial layout in Marquette Township. The building can function as one expansive premises or be arranged into multiple units, giving occupants flexibility in how the interior is organized.
The property includes two parking lots and is presented for a range of commercial applications, including retail, office suites, warehouse operations, and service-based businesses. Its adaptable configuration may suit an owner-user seeking room to expand or a business requiring a divisible commercial footprint.
The property includes two parking lots and is presented for a range of commercial applications, including retail, office suites, warehouse operations, and service-based businesses. Its adaptable configuration may suit an owner-user seeking room to expand or a business requiring a divisible commercial footprint.
Key Highlights
- 11,150‑square‑foot flex space
- Configurable as one large commercial premises or multiple units
- Two parking lots included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,080
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,600
$1.3M
Cap Rate 7%
$901,143
$901.1K
Cap Rate 9%
$700,889
$700.9K
Market Conditions
NOI Build-Up for 11,150 SF
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.
Gross rent
$100.4K $9.00/SF
− Vacancy
−$10.2K −$0.92/SF
EGI
$90.1K $8.08/SF
− OpEx
−$27.0K −$2.42/SF
NOI
$63.1K $5.66/SF
Area
Marquette County, MI
Vacancy
10.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,600
Cap Rate 7%
$901,143
Cap Rate 9%
$700,889
Alternative Uses
Best Use
Flex RnD
$1.45M
$1.27M – $1.70M
NOI $101,790 @ 7.0% cap · market cap 10.71%
Second Best
Industrial
$901.1K
$788.5K – $1.05M
NOI $63,080 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,868 @ 7.0% cap · market cap 24.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Superior Oasis — 2433 US-41, Marquette, MI 49855
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable configuration allows the building to operate as one commercial space or several smaller units.
Where is this flex space located?
The property is located at 405 Brookton Road Marquette, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 11,150‑square‑foot flex space; Configurable as one large commercial premises or multiple units; Two parking lots included
