521 W Washington Street, Marquette, MI 49855
COMMERCIAL - Marquette, MI
- Added:
- Jun 2, 2025
- Days on Market:
- 400
- Last Refresh:
- Jul 6 at 3:06 am
Property Features for 521 W Washington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Off Street
- Patio and Porch features
- Patio
- Exterior features
- Deck/Patio
- Standard status
- Active
- Size
- 1,962 SF
- Lot size
- 0.12 Acres
Utilities
- Heating system
- Oil
- Cooling system
- Wall/Window Unit(s)
- Water source
- Public
Building Details
- Roof type
- Rubber, Shingle
Listing agent SEAN LEAHY License #UPAR (906) 362-1158
Listing office SELECT REALTY 2363 US41 W, Marquette, MI (906) 228-2772
Listing date Jun 2, 2025
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.
HighLights
- Great location on Washington Street across from the Marquette Food Co‑op.
- Commercial building with living quarters.
- Floor plan allows for multiple configurations.
- Convenient bike path right out the back door.
- Off‑street parking.
- Deck/Patio and Patio.
Overview
The building is located on W Washington Street in Marquette, MI. It is described as being across from the Marquette Food Co-op, with Harlow Park and a bike path positioned nearby, and the bike path right out the back door.
For buyers, this mixed-use setup can support an owner-operator model where living space and commercial space are combined. The flexibility of the floor plan may also be useful for tenants seeking a retail or office arrangement that can be tailored to their requirements. All offers are subject to probate approval.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Marquette
- County
- Marquette
- State
- Michigan
- Longitude
- -87.403219
- Latitude
- 46.544579
