Mixed-Use Corner
For Sale
$424,900
202 W Michigan Ave, Marshall, MI 49068
Street-level commercial space is paired with two upstairs residential apartments.
Property Size4,560 SF
Price / SF$93.18
Days on Market48
Property Features for 202 W Michigan Ave
General Information
Standard status
Active
Size
4,560 SF
Site & Location
Corner Location
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Source:
Katie-k
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 5 at 9:45PM
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
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Investment Insights
Based on property information with market context.
Built in 1900, this corner mixed-use property combines 4,560 square feet of commercial and residential space. The ground floor provides street-facing commercial area suitable for retail, office, or other business uses. Two residential apartments occupy the upper level: one spacious one-bedroom unit and one larger two-bedroom unit.
The property is located at 202 W Michigan Ave in historic Downtown Marshall, at the corner of Michigan Avenue and Eagle St. Restaurants, boutiques, breweries, and community events are within walking distance, placing the building within an active downtown setting. The combination of commercial space and two apartment units supports both business occupancy and residential use within one property.
The property is located at 202 W Michigan Ave in historic Downtown Marshall, at the corner of Michigan Avenue and Eagle St. Restaurants, boutiques, breweries, and community events are within walking distance, placing the building within an active downtown setting. The combination of commercial space and two apartment units supports both business occupancy and residential use within one property.
Key Highlights
- 4,560‑square‑foot mixed‑use building constructed in 1900
- Corner location at 202 W Michigan Ave and Eagle St
- Street‑level commercial space for retail, office, or other business uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,661
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,220
$693.2K
Cap Rate 7%
$495,157
$495.2K
Cap Rate 9%
$385,122
$385.1K
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$66.8K $14.64/SF
− Vacancy
−$3.7K −$0.82/SF
EGI
$63.0K $13.82/SF
− OpEx
−$28.4K −$6.22/SF
NOI
$34.7K $7.60/SF
Area
Calhoun County, MI
Vacancy
5.60%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,220
Cap Rate 7%
$495,157
Cap Rate 9%
$385,122
Alternative Uses
Best Use
Mixed Use
$809.1K
$707.9K – $943.9K
NOI $56,635 @ 7.0% cap · market cap 13.33%
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.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
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Business Placement
Demographics for 49068, MI
14,325
Population
6,901
Households
2.1
Avg Household Size
45
Median Age
36%
College-Educated
96%
High-School Grad
129.9 sq mi
ZIP Area
110
Density / Sq Mi
$78,476
Median Household Income
$47,198
Median Earnings
$904
Median Rent
$196,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with two upstairs residential apartments.
Where is this mixed-use property located?
The property is located at 202 W Michigan Ave 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: 4,560‑square‑foot mixed‑use building constructed in 1900; Corner location at 202 W Michigan Ave and Eagle St; Street‑level commercial space for retail, office, or other business uses
