Building Details

Buildings 1

Listing Agency: RE/MAX 1ST REALTY c***@remaxmarquette.com

Listed By: KRISTINE GOUPILLE · License #6501288851 Show Phone

Source: Exprealty

Added: May 19, 2025 Changed: Oct 11 Last Checked: Oct 16 at 9:22AM

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Investment Insights

Based on property information with market context.

The 11,150-square-foot flex space at 405 Brookton Road provides a configurable commercial layout in Marquette Township. The building can function as one expansive premises or be arranged into multiple units, giving occupants flexibility in how the interior is organized.

The property includes two parking lots and is presented for a range of commercial applications, including retail, office suites, warehouse operations, and service-based businesses. Its adaptable configuration may suit an owner-user seeking room to expand or a business requiring a divisible commercial footprint.

Key Highlights

• 11,150‑square‑foot flex space
• Configurable as one large commercial premises or multiple units
• Two parking lots included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,080

Cap Rate

6.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,261,600 $1.3M

Cap Rate 7%

$901,143 $901.1K

Cap Rate 9%

$700,889 $700.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,150 SF

Gross rent

$100.4K $9.00/SF

− Vacancy

−$10.2K −$0.92/SF

EGI

$90.1K $8.08/SF

− OpEx

−$27.0K −$2.42/SF

NOI

$63.1K $5.66/SF

Area

Marquette County, MI

Vacancy

10.20%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,261,600

Cap Rate 7%

$901,143

Cap Rate 9%

$700,889

Alternative Uses

Best Use

Flex RnD

$1.45M

$1.27M – $1.70M (±1% cap)

NOI $101,790 @ 7.0% cap · market cap 10.71%

Second Best

Industrial

$901.1K

$788.5K – $1.05M (±1% cap)

NOI $63,080 @ 7.0% cap · market cap 6.64%

Theoretical Best

Office A

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,868 @ 7.0% cap · market cap 24.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Electrical Service Storage Facility Kitchen & Bath Showroom Bakery Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

322

Businesses Nearby

Balanced

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Adaptable configuration allows the building to operate as one commercial space or several smaller units.

Where is this flex space located?

The property is located at 405 Brookton Road Marquette, MI.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 11,150‑square‑foot flex space; Configurable as one large commercial premises or multiple units; Two parking lots included