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    Luxury Waterfront Condominium Residences Title is generated by Realmo AI

    2401 N Lakeshore Blvd, Marquette, MI 49855

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    Exclusive condominium development on Lake Superior with modern interiors.

    Type:Multifamily
    Property size:
    2,095 SF
    Added:
    Feb 3, 2026
    Days on Market:
    99
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2401 N Lakeshore Blvd

    General Information

    Standard status
    Active
    Size
    2,095 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    Fran Sevegney
    Fran Sevegney

    Listing agent Fran Sevegney License #6502420591

    Listing office RE/MAX 1st Realty

    Listing date Feb 3, 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

    • Premier waterfront location on Lake Superior with private access to over 500 feet of sandy beach.
    • Unobstructed views of Lake Superior from large windows and private balconies/patios.
    • High‑end finishes including granite/marble countertops, custom cabinetry, and stainless steel appliances in gourmet kitchens.
    • Attached garage space and in‑unit laundry facilities for convenience.
    • Immediate access to Marquette’s multi‑use path system and proximity to downtown.
    • Located in a Michigan Opportunity Zone, offering potential tax benefits for investors.

    Overview

    The Residences at North Harbor offer modern luxury living on the shores of Lake Superior. This condominium development is located along the coastline of Marquette, Michigan, offering a blend of natural beauty and sophisticated urban living. Residents enjoy private access to over 500 feet of sandy beach frontage. Situated at the corner of Lakeshore Boulevard and Hawley Street, the property is adjacent to Clark Lambros Park and a short walk from Presque Isle Park. Each unit is designed to maximize views of Lake Superior, featuring large windows and private balconies or patios. The residences offer spacious layouts ranging from 1-bedroom units to 4-bedroom homes up to 2,095 sq. ft. Interiors boast black-framed windows, hardwood and ceramic tile flooring, and natural light. Every unit includes an enclosed, attached garage space and in-unit laundry facilities. Shared spaces include fire pits, grilling stations, and social gathering areas. There is immediate access to Marquette’s multi-use path system. Located within a federally designated Michigan Opportunity Zone, the residences provide investors with potential for capital gains tax deferral and tax-free appreciation on a 10-year hold.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Marquette
    County
    Marquette
    State
    Michigan
    Longitude
    -87.39041
    Latitude
    46.564977

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    FAQs

    What type of property is this?
    Apartment building - Exclusive condominium development on Lake Superior with modern interiors.
    Where is this apartment building located?
    The property is located at 2401 N Lakeshore Blvd Marquette, MI.
    What are key features of this property?
    This property features: Premier waterfront location on Lake Superior with private access to over 500 feet of sandy beach.; Unobstructed views of Lake Superior from large windows and private balconies/patios.; High‑end finishes including granite/marble countertops, custom cabinetry, and stainless steel appliances in gourmet kitchens.
    (906) 225-1136 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Fran Sevegney
    Fran Sevegney
    Real Estate License ID: 6502420591
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2401 N Lakeshore Blvd, Marquette, MI 49855
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