Corner Mixed-Use Retail
202 W Michigan Avenue Marshall, MI 49068
For Sale
$424,900
Street-level retail space in a corner building with two upstairs apartments, including one- and two-bedroom units.
Days on Market17
Property Features for 202 W Michigan Avenue
General Information
Standard status
Active
Property subtype
Business Opportunity
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 209-2286
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Source:
Carolbollo
Added: Jul 13
Changed: Jul 25
Last Checked: Jul 29 at 1:09PM
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 Berkshire Hathaway HomeServices Michigan Real Estate
Investment Insights
Based on property information with market context.
This corner mixed-use building combines street-level retail space with two income-producing residential apartments upstairs. The residential component includes one one-bedroom unit and one larger two-bedroom unit, positioned above the commercial space.
The property is located in the heart of historic downtown Marshall, with retail visibility along Michigan Avenue and Eagle St. The building’s downtown setting places it within walking distance of local restaurants, boutiques, breweries, and year-round community events.
For buyers seeking a multi-income structure, the layout provides a combination of commercial space below and residential rental units above, offering flexibility for both investor and owner-operator use cases.
The property is located in the heart of historic downtown Marshall, with retail visibility along Michigan Avenue and Eagle St. The building’s downtown setting places it within walking distance of local restaurants, boutiques, breweries, and year-round community events.
For buyers seeking a multi-income structure, the layout provides a combination of commercial space below and residential rental units above, offering flexibility for both investor and owner-operator use cases.
Key Highlights
- Mixed‑use corner building with street‑level retail space and two upstairs apartments
- Two apartments include one‑bedroom and two‑bedroom units
- Street‑level commercial space on a corner location along Michigan Avenue and Eagle St
Financial Insights For Apartment 5plus
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 | $66.8k | $14.64 |
| − Vacancy | −$3.7k | −$0.82 |
| EGI | $63.0k | $13.82 |
| − OpEx | −$28.4k | −$6.22 |
| NOI | $34.7k | $7.60 |
4,560 SF · lease $14.64/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Office B
$717.6K
$627.9K – $837.3K
NOI $50,235 @ 7.0% cap · market cap 11.82%
Second Best
Retail
$676.2K
$591.7K – $789.0K
NOI $47,337 @ 7.0% cap · market cap 11.14%
Theoretical Best
Healthcare Medical
$54.09M
$47.33M – $63.11M
NOI $3,786,465 @ 7.0% cap · market cap 891.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Street-level retail space in a corner building with two upstairs apartments, including one- and two-bedroom units.
Where is this retail space located?
The property is located at 202 W Michigan Avenue Marshall, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Mixed‑use corner building with street‑level retail space and two upstairs apartments; Two apartments include one‑bedroom and two‑bedroom units; Street‑level commercial space on a corner location along Michigan Avenue and Eagle St
