4-Unit Apartment
For Sale
$395,000
Pending
323-325 N Front Street, Marquette, MI 49855
MULTIFAMILY, 2 Story, Marquette, MI
Property Size3,040 SF
Lot Size0.18 Acres
Days on Market607
Property Features for 323-325 N Front Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Basement, Bedroom 2, Bedroom 3
Parking features
Driveway
Patio and Porch features
Patio, Porch
Exterior features
Patio, Porch, Sidewalks, Street Lights, Garden Area
Appliances
Range/Oven, Refrigerator
Subdivision
JOHN BURT'S ADDITION
Lot features
Corner Lot, Sidewalks
Elementary school district
Marquette Area School District
Middle school district
Marquette Area School District
High school district
Marquette Area School District
Standard status
Pending
Size
3,040 SF
Lot size
0.18 Acres
Utilities
Heating system
Radiant, Hot Water(Heating)
Water source
Public
Amenities
off-street parking
garage
basement storage
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Architectural style
Conventional
Buildings
1
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
TERRY HUFFMAN
(906) 360-2505
Added: Feb 23, 2025
Changed: Oct 23
Last Checked: Oct 23 at 12:06PM
MLS# 50167159
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit apartment property contains four one-bedroom residences within 3,040 square feet. The building, constructed in 1900, includes a basement and garage space. Patio and porch areas are also part of the property, which occupies a 0.18-acre lot.
Driveway parking serves the property. Additional exterior features include sidewalks, street lights, and a garden area. Public water is available, and heating is provided by radiant and hot water systems.
Driveway parking serves the property. Additional exterior features include sidewalks, street lights, and a garden area. Public water is available, and heating is provided by radiant and hot water systems.
Key Highlights
- Four one‑bedroom apartment units
- 3,040 square feet on a 0.18‑acre lot
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,990
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,800
$379.8K
Cap Rate 7%
$271,286
$271.3K
Cap Rate 9%
$211,000
$211.0K
Market Conditions
NOI Build-Up for 3,040 SF
Gross rent
$28.1K $9.24/SF
− Vacancy
−$961 −$0.32/SF
EGI
$27.1K $8.92/SF
− OpEx
−$8.1K −$2.68/SF
NOI
$19.0K $6.25/SF
Area
Marquette County, MI
Vacancy
3.42%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,800
Cap Rate 7%
$271,286
Cap Rate 9%
$211,000
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.5K
NOI $18,990 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$234.9K
$205.5K – $274.0K
NOI $16,440 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$895.3K
$783.4K – $1.04M
NOI $62,673 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
Explore this area
Business Placement
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
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View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences are complemented by a basement, garage space, and driveway parking.
Where is this quadplex located?
The property is located at 323-325 N Front Street Marquette, MI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Four one‑bedroom apartment units; 3,040 square feet on a 0.18‑acre lot; Built in 1900
