Retail Building with Living
521 W Washington Street Marquette, MI 49855
521 W Washington Street, Marquette, MI, 49855
$650,000
For Sale
$650,000
Versatile retail layout with attached living quarters, offering multiple configuration options in a walkable neighborhood setting.
Property Size1,962 SF
Price / SF$331.29
Days on Market411
Property Features for 521 W Washington Street
General Information
- Standard status
- Active
- Size
- 1,962 SF
Listing Agency
SELECT REALTY
(906) 362-1158
Listed by
SEAN LEAHY · License #UPAR
(906) 362-1158
Source
Exprealty
Added: Jun 2, 2025 Checked: Jul 16 at 9:46 pm
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 includes living quarters alongside a retail storefront area. It was previously used as a jewelry store, and the interior layout is designed to support multiple configurations to suit different operating needs. The property’s flexible floor plan can accommodate a range of retail or mixed-use setups.
Located on Washington Street, the building sits across from the Marquette Food Co-op. It is also near Harlow Park, and the convenient bike path is located right out the back door, providing practical access for foot and bicycle traffic.
For buyers seeking a mixed-use arrangement, the combination of retail space and on-site living quarters can support a live-work model or a tenant/owner setup. The multiple configuration potential may appeal to operators who need adaptability within the storefront and adjoining areas. All offers are subject to probate approval.
Located on Washington Street, the building sits across from the Marquette Food Co-op. It is also near Harlow Park, and the convenient bike path is located right out the back door, providing practical access for foot and bicycle traffic.
For buyers seeking a mixed-use arrangement, the combination of retail space and on-site living quarters can support a live-work model or a tenant/owner setup. The multiple configuration potential may appeal to operators who need adaptability within the storefront and adjoining areas. All offers are subject to probate approval.
Key Highlights
- Commercial building with attached living quarters
- Previously used as a jewelry store
- Washington Street location 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 4.67%
Second Best
Retail
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Versatile retail layout with attached living quarters, offering multiple configuration options in a walkable neighborhood setting.
Where is this storefront 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 $650,000.
What are key features of this property?
This property features: Commercial building with attached living quarters; Previously used as a jewelry store; Washington Street location across from the Marquette Food Co‑op
