Professional Corner Office
1601 Marquette Street Bay City, MI 48706
1601 Marquette Street, Bay City, MI, 48706
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For Sale
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4,020 SF executive office condominium with reception, conference room, bullpen areas, and six private offices.
Property Size4,020 SF
Price / SF$136.57
Days on Market77
Property Features for 1601 Marquette Street
General Information
- Standard status
- Active
- Size
- 4,020 SF
- Property subtype
- Office
Building Details
- Year Built
- 1998
Listing agency
Tamarack Realty Services
(810) 417-0190
Listed by
Robert Lentz · License #6504431786
Source
Crexi
Added: May 7 Updated: Jul 21 at 1:01AM Checked: Jul 21 at 12:47PM
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 Tamarack Realty Services
Investment Insights
Based on property information with market context.
This 4,020 SF professional office condominium is located in a highly visible corner position within a multi-unit professional building. The suite was originally built as two units and combined into a single expansive executive office layout. Interior features include a reception area, waiting room, conference room, two bullpen areas sized for up to 12 workstations, and six private executive offices, along with a kitchenette/breakroom and file storage/vault. Two ADA-compliant lavatories support the suite, and the space benefits from 16' clerestory ceilings. Security system and updated LED lighting are also included.
The property includes monument signage and shared parking for approximately 90 vehicles, plus additional employee parking. Recent improvements include a new roof in 2021, a new HVAC unit in 2025, and new ADA-compliant concrete sidewalks and steps in 2025.
The condominium offers a turnkey office configuration for professional teams seeking dedicated private offices alongside open bullpen work areas.
The property includes monument signage and shared parking for approximately 90 vehicles, plus additional employee parking. Recent improvements include a new roof in 2021, a new HVAC unit in 2025, and new ADA-compliant concrete sidewalks and steps in 2025.
The condominium offers a turnkey office configuration for professional teams seeking dedicated private offices alongside open bullpen work areas.
Key Highlights
- 4,020 SF executive office condo with reception, waiting room, conference room, kitchenette/breakroom, and file storage/vault
- Two ADA‑compliant lavatories plus ADA‑compliant concrete sidewalks and steps (2025)
- Space layout includes two bullpen areas (for up to 12 workstations) and six private executive offices
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.4k | $18.00 |
| − Vacancy | −$3.9k | −$0.97 |
| EGI | $68.5k | $17.03 |
| − OpEx | −$27.4k | −$6.81 |
| NOI | $41.1k | $10.22 |
4,020 SF · lease $18.00/SF/yr · vacancy 5.40% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$586.7K
$513.4K – $684.5K
NOI $41,072 @ 7.0% cap · market cap 7.48%
Second Best
Office B
$545.8K
$477.6K – $636.8K
NOI $38,206 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$727.7K
$636.8K – $849.0K
NOI $50,941 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hazen Gregory MD
Ophthalmologist
Andersen Eye Associates ...
Physician
Joondeph Howard MD
Physician
Andersen Eye Associates ...
Physician
Andersen Eye Associates ...
Physician
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FAQs
What type of property is this?
Medical Office Space - 4,020 SF executive office condominium with reception, conference room, bullpen areas, and six private offices.
Where is this medical office space located?
The property is located at 1601 Marquette Street Bay City, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 4,020 SF executive office condo with reception, waiting room, conference room, kitchenette/breakroom, and file storage/vault; Two ADA‑compliant lavatories plus ADA‑compliant concrete sidewalks and steps (2025); Space layout includes two bullpen areas (for up to 12 workstations) and six private executive offices
