Multi-Tenant Commercial Building For
For Sale
Contact for pricing
3060 US-41, Marquette, MI 49855
30,660 SF multi-tenant commercial building in Marquette Township.
Property Size30,660 SF
Lot Size2.10 Acres
Price / SF$110.63
Days on Market197
Property Features for 3060 US-41
General Information
Standard status
Active
Size
30,660 SF
Lot size
2.10 Acres
Property subtype
Mixed Use
Zoning
General Business
Occupancy
100%
Building Details
Year Built
1985
Buildings
1
Stories
1
Listing Agency:
RE/MAX 1st Realty
(906) 225-1136
Listed By:
Fran Sevegney · License #6502420591
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 10 at 8:00AM
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
Investment Insights
Based on property information with market context.
This 30,660-square-foot multi-tenant commercial building is located in Marquette Township, offering income potential and visibility in a high-traffic area. The property is situated between the Westwood Mall and Super One Foods, neighboring Taco Bell and the upcoming Veteran's Facility. Current tenants include Superior Lanes, Wings and Things Restaurant, Media Brew Radio Station, Hong Kong Buffet, and Marquette Meats. Superior Lanes features newly installed lanes, an arcade, and an on-site restaurant with a liquor license, which is included with the sale. The property provides 172 parking spaces. An additional 2.1-acre parcel borders the new Venture Drive, offering room for future development or expansion. This property represents an opportunity to own a commercial asset in one of Marquette County’s active commercial corridors.
Key Highlights
- Prime location in a high‑traffic commercial area of Marquette Township, near Westwood Mall and Super One Foods.
- Strong income potential from a 30,660‑square‑foot multi‑tenant commercial building with established tenants.
- Superior Lanes bowling alley features newly installed lanes, a profitable arcade, and an on‑site restaurant with a liquor license included.**
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
$202,356
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
5.97%
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%
$4,047,120
$4.0M
Cap Rate 7%
$2,890,800
$2.9M
Cap Rate 9%
$2,248,400
$2.2M
Market Conditions
NOI Build-Up for 30,660 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
$367.9K $12.00/SF
− Vacancy
−$44.2K −$1.44/SF
EGI
$323.8K $10.56/SF
− OpEx
−$121.4K −$3.96/SF
NOI
$202.4K $6.60/SF
Area
Marquette County, MI
Vacancy
12.00%
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%
$4,047,120
Cap Rate 7%
$2,890,800
Cap Rate 9%
$2,248,400
Alternative Uses
Best Use
Specialty Retail
$6.07M
$5.31M – $7.08M
NOI $424,650 @ 7.0% cap · market cap 12.52%
Second Best
Mixed Use
$2.89M
$2.53M – $3.37M
NOI $202,356 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$9.03M
$7.90M – $10.53M
NOI $632,087 @ 7.0% cap · market cap 18.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
381k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Dining 28%
Apparel 17%
Shops & Services 11%
Walmart
Superstores
76,286 visits/mo
0.4 miles
Target
Superstores
61,812 visits/mo
0.3 miles
Kohl's
Apparel
35,280 visits/mo
0.2 miles
Culver's
Dining
23,988 visits/mo
0.2 miles
Dunham's Sports
Apparel
21,802 visits/mo
0.1 miles
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
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 - 30,660 SF multi-tenant commercial building in Marquette Township.
Where is this mixed-use property located?
The property is located at 3060 US-41 Marquette, MI.
What is the asking price?
The asking price for this property is $3,392,000.
What are key features of this property?
This property features: Prime location in a high‑traffic commercial area of Marquette Township, near Westwood Mall and Super One Foods.; Strong income potential from a 30,660‑square‑foot multi‑tenant commercial building with established tenants.; Superior Lanes bowling alley features newly installed lanes, a profitable arcade, and an on‑site restaurant with a liquor license included.**
