Five-Unit Apartment
For Sale
$525,000
Pending
421 N Front Street, Marquette, MI 49855
MULTIFAMILY, More than 2 Stories, Marquette, MI
Property Size4,258 SF
Lot Size0.17 Acres
Days on Market525
Property Features for 421 N Front Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 5, Bedroom 5, Bathroom 2, Laundry Room, Bathroom 4, Basement, Bedroom 3, Bathroom 1
Parking features
Driveway
Patio and Porch features
Deck, Porch
Interior features
Hardwood Floors
Exterior features
Deck, Porch, Sidewalks, Street Lights
Appliances
Dryer, Range/Oven, Refrigerator, Washer
Lot features
Main Street, Walk to School, Sidewalks
Elementary school
Graveraet
Middle school
Bothwell
High school
Marquette Senior High School
Elementary school district
Marquette Area School District
Middle school district
Marquette Area School District
High school district
Marquette Area School District
Subdivision
Marquette (52016)
Standard status
Pending
Size
4,258 SF
Lot size
0.17 Acres
Utilities
Heating system
Oil
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
separate locked storage spaces
laundry area
Building Details
Year built
1912
Number of units
5
Architectural style
Conventional
Listing Agency:
SELECT REALTY
(906) 228-2772
Listed By:
SEAN LEAHY · License #UPAR
(906) 362-1158
Added: Apr 30, 2025
Changed: Sep 15
Last Checked: Oct 6 at 3:06AM
MLS# 50173167
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.
Investment Insights
Based on property information with market context.
This 4258-square-foot apartment property contains five units, with four one-bedroom apartments and one two-bedroom apartment. Built in 1912, the conventional-style building features hardwood floors, public water, oil heat, and ceiling fans. Individual appliances include ranges/ovens, refrigerators, washers, and dryers. A basement provides separately secured storage areas along with shared laundry space, while the exterior includes a porch, deck, sidewalks, and street lighting.
The property sits at 421 N Front Street in Marquette, near downtown and the Third Street corridor. Five off-street parking spots are provided through the driveway. The 0.17-acre site offers a compact multifamily configuration with established residential improvements and practical shared amenities.
The property sits at 421 N Front Street in Marquette, near downtown and the Third Street corridor. Five off-street parking spots are provided through the driveway. The 0.17-acre site offers a compact multifamily configuration with established residential improvements and practical shared amenities.
Key Highlights
- Five‑unit apartment property with four one‑bedroom units and one two‑bedroom unit
- 4258 square feet on a 0.17‑acre site
- Five off‑street parking spots provided
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,027
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,540
$460.5K
Cap Rate 7%
$328,957
$329.0K
Cap Rate 9%
$255,856
$255.9K
Market Conditions
NOI Build-Up for 4,258 SF
Gross rent
$43.4K $10.20/SF
− Vacancy
−$1.6K −$0.37/SF
EGI
$41.9K $9.83/SF
− OpEx
−$18.8K −$4.42/SF
NOI
$23.0K $5.41/SF
Area
Marquette County, MI
Vacancy
3.60%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,540
Cap Rate 7%
$328,957
Cap Rate 9%
$255,856
Alternative Uses
Best Use
Apartment 5plus
$329.0K
$287.8K – $383.8K
NOI $23,027 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,783 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom layouts include basement storage, laundry facilities, and five off-street parking spaces.
Where is this apartment building located?
The property is located at 421 N Front Street Marquette, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Five‑unit apartment property with four one‑bedroom units and one two‑bedroom unit; 4258 square feet on a 0.17‑acre site; Five off‑street parking spots provided
