Mixed-Use Property with Office
For Sale
$425,000
207 Exchange Street, Marshall, MI 49068
Combines a single-family residence, detached garage, and partitioned office space in one property.
Property Size4,373 SF
Price / SF$180.39
Days on Market9
Property Features for 207 Exchange Street
General Information
Standard status
Active
Size
4,373 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,155
Building Details
Building Size
4,373 SF
Year Built
1950
Buildings
2
Units
3
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 209-2286
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Source:
Eliterealtymi
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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 mixed-use property at 207 Exchange Street combines a 1,441 sq ft single-family residence with a separate 2,356 sq ft office building. The home includes a spacious layout and a detached two-car garage that adds storage and convenience. Built in 1950, the property brings residential and commercial components together in a single holding.
The office building has an existing partition, allowing the space to function as two separate business areas or as one larger office. This configuration supports live-work use, owner occupancy, or separate operation of the residential and office portions, as described for the property.
The office building has an existing partition, allowing the space to function as two separate business areas or as one larger office. This configuration supports live-work use, owner occupancy, or separate operation of the residential and office portions, as described for the property.
Key Highlights
- 1,441 sq ft single‑family home
- 2,356 sq ft office building with an existing partition
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,262
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,240
$585.2K
Cap Rate 7%
$418,029
$418.0K
Cap Rate 9%
$325,133
$325.1K
Market Conditions
NOI Build-Up for 2,356 SF
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.
Gross rent
$50.9K $21.60/SF
− Vacancy
−$4.1K −$1.73/SF
EGI
$46.8K $19.87/SF
− OpEx
−$17.6K −$7.45/SF
NOI
$29.3K $12.42/SF
Area
Calhoun County, MI
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,240
Cap Rate 7%
$418,029
Cap Rate 9%
$325,133
Alternative Uses
Best Use
Mixed Use
$418.0K
$365.8K – $487.7K
NOI $29,262 @ 7.0% cap · market cap 6.89%
Second Best
Office B
$370.8K
$324.4K – $432.6K
NOI $25,955 @ 7.0% cap · market cap 6.11%
Theoretical Best
Healthcare Medical
$27.95M
$24.45M – $32.61M
NOI $1,956,340 @ 7.0% cap · market cap 460.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a single-family residence, detached garage, and partitioned office space in one property.
Where is this mixed-use property located?
The property is located at 207 Exchange Street Marshall, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,441 sq ft single‑family home; 2,356 sq ft office building with an existing partition; Detached two‑car garage
