Mixed-Use Live-Work
For Sale
$425,000
207 Exchange Street, Marshall, MI 49068
COMMERCIAL - Marshall, MI
Property Size4,373 SF
Lot Size0.30 Acres
Price / SF$97.19
Days on Market157
Property Features for 207 Exchange Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
Broadband
Elementary school district
Marshall
Middle school district
Marshall
High school district
Marshall
Standard status
Active
APN
53-001-060-00
Size
4,373 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LL@LO
Tax Annual Amount
6156
Legal Description
LL@LO
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 789-0140
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Added: Mar 18
Changed: Aug 4
Last Checked: Aug 21 at 10:06AM
MLS# 26010330
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.
Investment Insights
Based on property information with market context.
This mixed-use property combines a well-maintained single-family home with a separate office building. The home includes a spacious layout and a detached two-car garage. The office building offers approximately 2,356 square feet and is designed with an existing partition, providing flexibility to operate as one larger office or divide the space for separate uses.
The property is located at 207 Exchange Street in Marshall, Michigan (Calhoun County). The configuration supports live and work on-site or accommodate multiple business setups within the office portion.
With both residential and commercial space on one lot, this offering is suited for owner-occupants and investors seeking an integrated live-work arrangement or additional rental income through the residence.
The property is located at 207 Exchange Street in Marshall, Michigan (Calhoun County). The configuration supports live and work on-site or accommodate multiple business setups within the office portion.
With both residential and commercial space on one lot, this offering is suited for owner-occupants and investors seeking an integrated live-work arrangement or additional rental income through the residence.
Key Highlights
- 1,441 sq ft single‑family home with a detached two‑car garage
- 2,356 sq ft office building with existing partition for dividing into two spaces
- Forced‑air heating with central air conditioning
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
$33,240
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
7.82%
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%
$664,800
$664.8K
Cap Rate 7%
$474,857
$474.9K
Cap Rate 9%
$369,333
$369.3K
Market Conditions
NOI Build-Up for 4,373 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
$64.0K $14.64/SF
− Vacancy
−$3.6K −$0.82/SF
EGI
$60.4K $13.82/SF
− OpEx
−$27.2K −$6.22/SF
NOI
$33.2K $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 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%
$664,800
Cap Rate 7%
$474,857
Cap Rate 9%
$369,333
Alternative Uses
Best Use
Mixed Use
$775.9K
$678.9K – $905.2K
NOI $54,313 @ 7.0% cap · market cap 12.78%
Second Best
Office B
$688.2K
$602.2K – $802.9K
NOI $48,175 @ 7.0% cap · market cap 11.34%
Theoretical Best
Healthcare Medical
$51.87M
$45.39M – $60.52M
NOI $3,631,186 @ 7.0% cap · market cap 854.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - A single-family home and a partitioned office building offer flexible live-and-work or rental income uses.
Where is this live-work space 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 with a detached two‑car garage; 2,356 sq ft office building with existing partition for dividing into two spaces; Forced‑air heating with central air conditioning
