Historic Coffee Shop and
401 N Third Street Marquette, MI 49855
401 N Third Street, Marquette, MI, 49855
$849,000
For Sale
$849,000
Turnkey coffee shop, roastery, and bar in a Victorian building with retained original features and a basement walk-in cooler.
Property Size2,806 SF
Price / SF$302.57
Days on Market415
Property Features for 401 N Third Street
General Information
- Standard status
- Active
- Size
- 2,806 SF
Listing agency
RE/MAX 1ST REALTY
(906) 361-7653
Listed by
KELLIE HILLIER-GENSCHAW · License #6501271285
(906) 361-7653
Source
Exprealty
Added: Jun 4, 2025 Updated: Jul 22 at 10:00PM Checked: Jul 22 at 10:00PM
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 turnkey coffee shop, roastery, and bar operates from a Victorian-style home originally built in 1890. The property has been converted into commercial space and restored and renovated, while retaining original details including hardwood floors, trim, large pocket doors, high ceilings, and two marble-tiled fireplaces. Modern amenities include a sound system, air conditioning, and a large walk-in cooler located in the basement. The space offers two levels of gathering areas with casual and intimate seating options, along with a private meeting room that can be reserved. There is also a patio area for outdoor beverage service.
Located in historic downtown Marquette at the Third St. location, the business is surrounded by unique shops, restaurants, and professional services. Customer parking is available behind the building and along Third St.
The purchase includes the building, business, equipment, and liquor license.
Located in historic downtown Marquette at the Third St. location, the business is surrounded by unique shops, restaurants, and professional services. Customer parking is available behind the building and along Third St.
The purchase includes the building, business, equipment, and liquor license.
Key Highlights
- Established in 2018, The Crib is a coffee shop, roastery, and bar in Historic Downtown Marquette
- Victorian‑style home built in 1890, converted into commercial space and restored/renovated by the current owners
- Retained original features include hardwood floors, trim, large pocket doors, and high ceilings, plus two marble‑tiled fireplaces
Local Financial Insights For Specialty Retail
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 | $53.2k | $18.96 |
| − Vacancy | −$1.4k | −$0.49 |
| EGI | $51.8k | $18.47 |
| − OpEx | −$13.0k | −$4.62 |
| NOI | $38.9k | $13.85 |
2,806 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.4K
$723.1K – $964.1K
NOI $57,848 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Coffee shops
Similar For Sale Nearby
Similar Off Market Nearby
- Yoop-Phoria — 156 W Washington St, Marquette, MI 49855
- Blossom Bird Bubble Tea — 128 N 3rd St, Marquette, MI 49855
- JML Coffee — 402 Rock St #1, Marquette, MI 49855
- Zephyr Winebar + Café — 215 S Front St, Marquette, MI 49855
- Dead River Coffee Roasters — 119 W Baraga Ave, Marquette, MI 49855
FAQs
What type of property is this?
Coffee shop - Turnkey coffee shop, roastery, and bar in a Victorian building with retained original features and a basement walk-in cooler.
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 $849,000.
What are key features of this property?
This property features: Established in 2018, The Crib is a coffee shop, roastery, and bar in Historic Downtown Marquette; Victorian‑style home built in 1890, converted into commercial space and restored/renovated by the current owners; Retained original features include hardwood floors, trim, large pocket doors, and high ceilings, plus two marble‑tiled fireplaces
