Executive Office
1601 Marquette Avenue, Bay City, MI 48706
For Sale
$479,000
Commercial, Bay City, MI
Property Size4,020 SF
Lot Size1.00 Acre
Price / SF$119.15
Days on Market190
Property Features for 1601 Marquette Avenue
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Amenities
16' clerestory ceilings
monument signage
security system
updated LED lighting
Building Details
Building materials
Listing Agency:
Tamarack Realty Services
(989) 259-1279
Listed By:
Robert Lentz · License MI #6504431786
(810) 417-0190
Added: May 7
Changed: Nov 8
Last Checked: Nov 12 at 9:06AM
MLS# 1944787
Copyright © 2026 Northern Great Lakes Realtors MLS. 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.
This 4,020 SF office condominium combines two originally separate units into one executive suite within a professional building occupied primarily by medical office condominiums. The layout includes a reception area, waiting room, conference room, two bullpen areas accommodating up to 12 workstations, six private executive offices, a kitchenette/breakroom, file storage with vault, and two ADA-compliant lavatories. The suite was professionally built out in 2005 and features 16' clerestory ceilings, updated LED lighting, a security system, and monument signage.
The building was constructed in 1998 and offers shared parking for approximately 90 vehicles, along with additional employee parking. Recent property improvements include a new roof completed in 2021, a new HVAC unit installed in 2025, and new ADA-compliant concrete sidewalks and steps added in 2025. The property occupies 1 acre and has block construction with a parking lot.
The building was constructed in 1998 and offers shared parking for approximately 90 vehicles, along with additional employee parking. Recent property improvements include a new roof completed in 2021, a new HVAC unit installed in 2025, and new ADA-compliant concrete sidewalks and steps added in 2025. The property occupies 1 acre and has block construction with a parking lot.
Key Highlights
- 4,020 SF office condominium combining two originally separate units
- Six private executive offices and two bullpen areas for up to 12 workstations
- Reception, waiting, conference, kitchenette/breakroom, file storage, and vault areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,072
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,440
$821.4K
Cap Rate 7%
$586,743
$586.7K
Cap Rate 9%
$456,356
$456.4K
Market Conditions
NOI Build-Up for 4,020 SF
Gross rent
$72.4K $18.00/SF
− Vacancy
−$3.9K −$0.97/SF
EGI
$68.5K $17.03/SF
− OpEx
−$27.4K −$6.81/SF
NOI
$41.1K $10.22/SF
Area
Bay County, MI
Vacancy
5.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,440
Cap Rate 7%
$586,743
Cap Rate 9%
$456,356
Alternative Uses
Best Use
Healthcare Medical
$586.7K
$513.4K – $684.5K
NOI $41,072 @ 7.0% cap · market cap 8.57%
Second Best
Office B
$545.8K
$477.6K – $636.8K
NOI $38,206 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$727.7K
$636.8K – $849.0K
NOI $50,941 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Combined professional suite with private offices, collaborative work areas, and medical-office surroundings.
Where is this office unit located?
The property is located at 1601 Marquette Avenue Bay City, MI.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 4,020 SF office condominium combining two originally separate units; Six private executive offices and two bullpen areas for up to 12 workstations; Reception, waiting, conference, kitchenette/breakroom, file storage, and vault areas
