Mixed-Use Building with Rooftop
For Sale
$829,000
214 Broadway St, Marine City, MI 48039
Street-level retail space is paired with renovated upper living quarters and a rooftop deck overlooking the river.
Property Size7,276 SF
Price / SF$113.94
Days on Market440
Property Features for 214 Broadway St
General Information
Standard status
Active
Size
7,276 SF
Property subtype
Multifamily, Retail
Building Details
Building Size
7,276 SF
Buildings
1
Stories
2
Listing Agency:
Kramer Commercial Realty
(810) 531-4090
Listed By:
Korissa Kramer · License #6502386241
(810) 531-4090
Source:
Cpix.resimplifi
Added: Jun 17, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:43PM
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 Kramer Commercial Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-level retail component with an upper residential area. The retail level contains 4,900 square feet with 10-foot ceilings, new windows and doors, fixtures, appliances, a storage room, security camera, front counter, two furnaces, air conditioning, generator transfer hookup, new siding, a new driveway, and front and back garages.
The upper living space was built in 2006 and measures 2,367 square feet. It includes three bedrooms, two baths, a living room and primary bedroom connected by a two-sided fireplace, plus door walls opening to a 1,100-square-foot rooftop deck with new-tech decking, a pergola-style roof, and fans. River views extend from the deck. The kitchen was remodeled in 2023 with quartz countertops, a bar, ceramic tile, new appliances, and a dining area, while the property also includes a large laundry area and storage.
The upper living space was built in 2006 and measures 2,367 square feet. It includes three bedrooms, two baths, a living room and primary bedroom connected by a two-sided fireplace, plus door walls opening to a 1,100-square-foot rooftop deck with new-tech decking, a pergola-style roof, and fans. River views extend from the deck. The kitchen was remodeled in 2023 with quartz countertops, a bar, ceramic tile, new appliances, and a dining area, while the property also includes a large laundry area and storage.
Key Highlights
- 4,900 sq. ft. street‑level retail space with 10‑foot ceilings
- 2,367 sq. ft. upper living space built in 2006
- 1,100 sq. ft. rooftop deck with river views
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
$50,204
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
6.06%
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%
$1,004,080
$1.0M
Cap Rate 7%
$717,200
$717.2K
Cap Rate 9%
$557,822
$557.8K
Market Conditions
NOI Build-Up for 7,276 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
$87.3K $12.00/SF
− Vacancy
−$7.0K −$0.96/SF
EGI
$80.3K $11.04/SF
− OpEx
−$30.1K −$4.14/SF
NOI
$50.2K $6.90/SF
Area
St. Clair County, MI
Vacancy
8.00%
Lease Rate
$12.00 /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%
$1,004,080
Cap Rate 7%
$717,200
Cap Rate 9%
$557,822
Alternative Uses
Best Use
Retail
$1.34M
$1.18M – $1.57M
NOI $94,056 @ 7.0% cap · market cap 11.35%
Second Best
Mixed Use
$717.2K
$627.6K – $836.7K
NOI $50,204 @ 7.0% cap · market cap 6.06%
Theoretical Best
Multifamily LT 5
$5.47M
$4.79M – $6.38M
NOI $382,890 @ 7.0% cap · market cap 46.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
3,659 visits/mo
0.5 miles
Huntington Bank
Shops & Services
2,416 visits/mo
0.5 miles
Demographics for 48039, MI
7,485
Population
3,701
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
92%
High-School Grad
23.0 sq mi
ZIP Area
325
Density / Sq Mi
$76,304
Median Household Income
$42,715
Median Earnings
$879
Median Rent
$170,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail space is paired with renovated upper living quarters and a rooftop deck overlooking the river.
Where is this mixed-use property located?
The property is located at 214 Broadway St Marine City, MI.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 4,900 sq. ft. street‑level retail space with 10‑foot ceilings; 2,367 sq. ft. upper living space built in 2006; 1,100 sq. ft. rooftop deck with river views
