Coffee Shop with
For Sale
$750,000
401 N Third Street, Marquette, MI 49855
COM/IND/BUS OPP, Marquette, MI
Property Size2,806 SF
Lot Size0.11 Acres
Price / SF$267.28
Days on Market515
Property Features for 401 N Third Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed Use,Commercial
Zoning description
Mixed Use, Commercial
Patio and Porch features
Patio
Exterior features
Deck/Patio
Lot features
Main Street
Subdivision
Marquette (52016)
Standard status
Active
Size
2,806 SF
Lot size
0.11 Acres
Tenancy & Operations
Currently Operating
Yes
Business Included
Yes
Utilities
Heating system
Hot Water(Heating)
Cooling system
Wall/Window Unit(s)
Water source
Public
Amenities
sound system
air conditioning
walk-in cooler
Building Details
Year built
1890
Buildings
1
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
KELLIE HILLIER-GENSCHAW
(906) 361-7653
Added: Jun 2, 2025
Changed: Oct 21
Last Checked: Oct 29 at 2:06AM
MLS# 50177139
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.
At 401 N Third Street, this 2,806-square-foot commercial property combines a coffee shop, roastery, and bar across two levels. The business began in 2018, and the building dates to 1890. Renovated for commercial use, the Victorian-style structure retains hardwood floors, detailed trim, pocket doors, high ceilings, and two marble-tiled fireplaces. Modern features include air conditioning, a sound system, a basement walk-in cooler, a private meeting room, and a patio. The building, business, equipment, and liquor license are included.
The property sits in downtown Marquette among shops, restaurants, and professional services. Customer parking is available behind the building, with additional parking along Third Street. The 0.11-acre parcel is zoned Mixed Use, Commercial.
The property sits in downtown Marquette among shops, restaurants, and professional services. Customer parking is available behind the building, with additional parking along Third Street. The 0.11-acre parcel is zoned Mixed Use, Commercial.
Key Highlights
- Coffee shop, roastery, and bar business established in 2018
- 2,806‑square‑foot building on a 0.11‑acre parcel
- Built in 1890; retains hardwood floors, pocket doors, high ceilings, and two marble‑tiled fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,864
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,280
$777.3K
Cap Rate 7%
$555,200
$555.2K
Cap Rate 9%
$431,822
$431.8K
Market Conditions
NOI Build-Up for 2,806 SF
Gross rent
$53.2K $18.96/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$51.8K $18.47/SF
− OpEx
−$13.0K −$4.62/SF
NOI
$38.9K $13.85/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,280
Cap Rate 7%
$555,200
Cap Rate 9%
$431,822
Alternative Uses
Best Use
Specialty Retail
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.4K
$723.1K – $964.1K
NOI $57,848 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
16k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 46%
Dining 28%
Shops & Services 26%
Ramada
Hotels & Casinos
7,592 visits/mo
0.3 miles
BP
Shops & Services
3,286 visits/mo
0.4 miles
Domino's Pizza
Dining
2,454 visits/mo
0.5 miles
Jimmy John's
Dining
2,197 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
937 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- JML Coffee — 402 Rock St #1, Marquette, MI 49855
- Dead River Coffee Roasters — 119 W Baraga Ave, Marquette, MI 49855
- Zephyr Winebar + Café — 215 S Front St, Marquette, MI 49855
- Yoop-Phoria — 156 W Washington St, Marquette, MI 49855
- Blossom Bird Bubble Tea — 128 N 3rd St, Marquette, MI 49855
Frequently Asked Questions
What type of property is this?
Coffee shop - A two-level operation offers coffee roasting, indoor gathering areas, a private meeting room, and patio seating.
Where is this coffee shop located?
The property is located at 401 N Third Street Marquette, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Coffee shop, roastery, and bar business established in 2018; 2,806‑square‑foot building on a 0.11‑acre parcel; Built in 1890; retains hardwood floors, pocket doors, high ceilings, and two marble‑tiled fireplaces
