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    Historic Mixed-Use Downtown Building Title is generated by Realmo AI

    221 West Washington Street, Marquette, MI 49855

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    Historic mixed-use building combines retail storefront space with private office areas and an independently accessed residence.

    Type:Mixed Use
    Property size:
    4,550 SF
    Price / SF:
    $175/SF
    Added:
    May 28, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 5:11 am

    Property Features for 221 West Washington Street

    General Information

    Standard status
    Active
    Size
    4,550 SF
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1929

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    Listing Contact
    Kellie Hillier-Genschaw
    Kellie Hillier-Genschaw

    Listing agent Kellie Hillier-Genschaw License #MI 6501271285

    Listing office RE/MAX 1st Realty

    Listing date May 28, 2026

    Source Crexi

    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 RE/MAX 1st Realty

    HighLights

    • Historic downtown mixed‑use building at 221 W. Washington St, Marquette (built 1896; added onto in 1929).
    • Main level includes retail storefront plus private office space, offering flexible commercial use.
    • Brick and glass block exterior with original trim work, transom windows, and hardwood floors.
    • Soaring 10‑foot ceilings with large windows overlooking downtown Commons and Washington Street.
    • Upper level features a 2,275 SF private flat with its own dedicated Washington Street entrance.
    • Private parking via drive‑under garage plus a loading dock; residence includes 3 bedrooms, 1.5 baths, home office, utility room, formal dining, and skylights.

    Overview

    Built in 1896 with an addition in 1929, this historic mixed-use building features original architectural details throughout, including a brick and glass block exterior, hardwood floors, original trim work, transom windows, and soaring 10-foot ceilings. The main level offers a versatile blend of retail storefront space and private office space, designed to accommodate a range of professional or commercial uses. The upper level is a large, private flat accessed through its own dedicated entrance on Washington Street, with a residence that includes three bedrooms, 1.5 baths, a home office space, a utility room, formal dining, skylights, and abundant historic character.

    The property is located in the heart of downtown Marquette, only two blocks from Lake Superior. Large windows provide views overlooking the downtown Commons area and Washington Street. The building also includes a convenient drive-under garage for private parking and a loading dock for larger items, supporting both day-to-day access and deliveries.

    This configuration can work well for an owner-operator who wants to combine storefront or office use with a separate living space, or for investors seeking a distinctive downtown asset with multiple functional areas. The flexible main level layout supports retail or professional office tenants, while the independently accessed upper residence offers an additional, self-contained use.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $109.2k $24.00
    − Vacancy −$15.4k −$3.38
    EGI $93.8k $20.62
    − OpEx −$23.5k −$5.15
    NOI $70.4k $15.46
    4,550 SF · lease $24.00/SF/yr · vacancy 14.10% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.01M
    $879.4K – $1.17M (±1% cap)
    NOI $70,352 @ 7.0% cap · market cap 8.80%
    Second Best
    Retail
    $797.7K
    $698.0K – $930.7K (±1% cap)
    NOI $55,839 @ 7.0% cap · market cap 6.98%
    Theoretical Best
    Office A
    $1.34M
    $1.17M – $1.56M (±1% cap)
    NOI $93,803 @ 7.0% cap · market cap 11.73%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marquette
    County
    Marquette
    State
    Michigan
    Longitude
    -87.395481
    Latitude
    46.543545

    FAQs

    What type of property is this?
    Live-work space - Historic mixed-use building combines retail storefront space with private office areas and an independently accessed residence.
    Where is this live-work space located?
    The property is located at 221 West Washington Street Marquette, MI.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Historic downtown mixed‑use building at 221 W. Washington St, Marquette (built 1896; added onto in 1929).; Main level includes retail storefront plus private office space, offering flexible commercial use.; Brick and glass block exterior with original trim work, transom windows, and hardwood floors.
    (906) 225-1990 Call to check price and availability
    More about this property
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