Brick Mixed-Use
202 W Michigan Avenue, Marshall, MI 49068
For Sale
$424,900
Pending
Commercial Sale, Marshall, MI
Property Size4,560 SF
Lot Size0.07 Acres
Days on Market120
Property Features for 202 W Michigan Avenue
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Interior features
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Site & Location
Corner Location
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 789-0140
Listed By:
Brian Fazekas · License MI #6506047758
(269) 209-2286
Added: Jul 13
Changed: Oct 30
Last Checked: Nov 9 at 10:06PM
MLS# 26035569
Copyright © 2026 Michigan Regional Information Center, LLC. 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 4,560-square-foot mixed-use building combines street-level commercial space with two residential apartments above. The residential portion includes one one-bedroom apartment and one two-bedroom apartment. Constructed in 1900, the brick property also includes a basement, three bathrooms, forced-air heating, window-unit cooling, a rubber roof, and cable availability.
Positioned at 202 W Michigan Avenue in Marshall, the corner building fronts Michigan Avenue and Eagle St. Its downtown setting places the property near restaurants, boutiques, breweries, and community events, with pedestrian activity present in the surrounding area. The commercial component may accommodate retail, office, or other business uses as described in the property information.
Positioned at 202 W Michigan Avenue in Marshall, the corner building fronts Michigan Avenue and Eagle St. Its downtown setting places the property near restaurants, boutiques, breweries, and community events, with pedestrian activity present in the surrounding area. The commercial component may accommodate retail, office, or other business uses as described in the property information.
Key Highlights
- 4,560‑square‑foot mixed‑use building on a 0.07‑acre lot
- Two upstairs apartments: one one‑bedroom unit and one two‑bedroom unit
- Corner property at 202 W Michigan Avenue, Marshall, MI 49068
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
Office A
$959.5K
$839.6K – $1.12M
NOI $67,168 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
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 - Corner commercial property with two upstairs apartments, broadband availability, and forced-air heating.
Where is this mixed-use property 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: 4,560‑square‑foot mixed‑use building on a 0.07‑acre lot; Two upstairs apartments: one one‑bedroom unit and one two‑bedroom unit; Corner property at 202 W Michigan Avenue, Marshall, MI 49068
