Mixed-Use Building with Living
521 W Washington Street, Marquette, MI 49855
For Sale
$499,900
COM/IND/BUS OPP, Marquette, MI
Property Size1,962 SF
Lot Size0.12 Acres
Price / SF$254.79
Days on Market526
Property Features for 521 W Washington Street
General Information
Property type
Property subtype
Zoning
Zoning description
Parking features
Patio and Porch features
Exterior features
Lot features
Subdivision
Standard status
Size
Lot size
Additional Details
Mixed-Use Components
Utilities
Cooling system
Water source
Amenities
bike path
Building Details
Roof type
Buildings
Listing Agency:
SELECT REALTY
(906) 228-2772
Listed By:
SEAN LEAHY · License #UPAR
(906) 362-1158
Added: Jun 2, 2025
Changed: Oct 27
Last Checked: Nov 9 at 10:06AM
MLS# 50176855
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 1,962-square-foot mixed-use building combines commercial space with living quarters. The 0.12-acre property has Commercial zoning, a patio, and off-street parking. Cooling is provided by wall/window units, and the roof includes rubber and shingle sections.
At 521 W Washington Street, the property faces the Marquette Food Co-op, is near Harlow Park, and has a bike path along its rear. Public water serves the site. Any offer is subject to probate approval.
At 521 W Washington Street, the property faces the Marquette Food Co-op, is near Harlow Park, and has a bike path along its rear. Public water serves the site. Any offer is subject to probate approval.
Key Highlights
- 1,962‑square‑foot mixed‑use building with commercial space and living quarters
- 0.12‑acre site with Commercial zoning
- Opposite the Marquette Food Co‑op; near Harlow Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,078
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,560
$481.6K
Cap Rate 7%
$343,971
$344.0K
Cap Rate 9%
$267,533
$267.5K
Market Conditions
NOI Build-Up for 1,962 SF
Gross rent
$35.3K $18.00/SF
− Vacancy
−$918 −$0.47/SF
EGI
$34.4K $17.53/SF
− OpEx
−$10.3K −$5.26/SF
NOI
$24.1K $12.27/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,560
Cap Rate 7%
$343,971
Cap Rate 9%
$267,533
Alternative Uses
Best Use
Retail
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 4.82%
Second Best
Mixed Use
$185.0K
$161.9K – $215.8K
NOI $12,949 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 8.09%
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
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 56%
Shops & Services 30%
Dining 14%
Ramada
Hotels & Casinos
7,592 visits/mo
0.1 miles
BP
Shops & Services
3,286 visits/mo
Domino's Pizza
Dining
2,454 visits/mo
0.2 miles
Staybridge Suites Marquette
Hotels & Casinos
1,940 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
937 visits/mo
0.2 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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space and residential quarters are combined within one building.
Where is this mixed-use property located?
The property is located at 521 W Washington Street Marquette, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,962‑square‑foot mixed‑use building with commercial space and living quarters; 0.12‑acre site with Commercial zoning; Opposite the Marquette Food Co‑op; near Harlow Park
