221 West Washington Street, Marquette, MI 49855
Historic mixed-use building combines retail storefront space with private office areas and an independently accessed residence.
- 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
Listing agent Kellie Hillier-Genschaw License #MI 6501271285
Listing office RE/MAX 1st Realty (906) 225-1990
Listing date May 28, 2026
Source Crexi
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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
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Marquette
- County
- Marquette
- State
- Michigan
- Longitude
- -87.395481
- Latitude
- 46.543545