Mixed-Use Retail and Living
W 521 W Washington Street Unit SourceFi Marquette, MI 49855
W 521 W Washington Street Unit SourceFi, Marquette, MI, 49855
$550,000
For Sale
$550,000
Commercial building with living quarters, previously operating as a jewelry store, and a floor plan suited for multiple configurations.
Property Size1,962 SF
Price / SF$280.33
Days on Market420
Property Features for W 521 W Washington Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 1,962 SF
- Property subtype
- Industrial
Listing agency
SELECT REALTY
(906) 362-1158
Listed by
SEAN LEAHY · License #UPAR
(906) 362-1158
Source
Xome
Added: May 29, 2025 Updated: Jul 19 at 1:51AM Checked: Jul 22 at 3:54AM
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 SELECT REALTY
Investment Insights
Based on property information with market context.
This commercial building offers retail space with attached living quarters and an interior layout designed to accommodate multiple configurations. The property was previously used as a jewelry store, and the available floor plan can be arranged to suit a range of needs.
The building is described as being on Washington Street, across from the Marquette Food Co-op, with Harlow Park nearby. The convenient bike path is noted as being right out the back door.
All offers are subject to probate approval.
The building is described as being on Washington Street, across from the Marquette Food Co-op, with Harlow Park nearby. The convenient bike path is noted as being right out the back door.
All offers are subject to probate approval.
Key Highlights
- Commercial building with living quarters, previously operating as a jewelry store
- Floor plan supports multiple configurations to suit different needs
- Located on Washington Street across from the Marquette Food Co‑op
Local Financial Insights For Office B
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 | $47.1k | $24.00 |
| − Vacancy | −$6.6k | −$3.38 |
| EGI | $40.4k | $20.62 |
| − OpEx | −$10.1k | −$5.15 |
| NOI | $30.3k | $15.46 |
1,962 SF · lease $24.00/SF/yr · vacancy 14.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$433.4K
$379.2K – $505.6K
NOI $30,336 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Commercial building with living quarters, previously operating as a jewelry store, and a floor plan suited for multiple configurations.
Where is this storefront property located?
The property is located at W 521 W Washington Street Unit SourceFi Marquette, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Commercial building with living quarters, previously operating as a jewelry store; Floor plan supports multiple configurations to suit different needs; Located on Washington Street across from the Marquette Food Co‑op
