Warehouse with Outdoor
For Sale
$550,000
600 HAWLEY ST, Marquette, MI 49855
Freestanding warehouse property with substantial exterior area for parking, equipment, and operational needs.
Property Size4,800 SF
Lot Size1.16 Acres
Price / SF$114.58
Days on Market11
Property Features for 600 HAWLEY ST
General Information
Standard status
Active
Size
4,800 SF
Lot size
1.16 Acres
Property subtype
Industrial
Additional Details
Warehouse Space
4,800 SF
Amenities
3
236269115341
Building Details
Year Built
1998
Listing Agency:
RE/MAX 1ST REALTY
(906) 361-7604
Listed By:
DAVE MINGAY · License #6505420592
(906) 361-7604
Source:
Xome
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 20 at 5:00AM
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 RE/MAX 1ST REALTY
Investment Insights
Based on property information with market context.
This warehouse property provides 4,800 square feet of commercial space on approximately 1.16 acres. Built in 1998, the site combines enclosed warehouse area with additional outdoor space that can accommodate parking, equipment, or other business requirements. The configuration supports warehouse, storage, and general commercial operations.
Located at 600 Hawley St in Marquette, the property offers access to downtown Marquette, Northern Michigan University, and Lake Superior. The combination of building area and land provides both indoor and exterior capacity for an operating business or storage-oriented use.
Located at 600 Hawley St in Marquette, the property offers access to downtown Marquette, Northern Michigan University, and Lake Superior. The combination of building area and land provides both indoor and exterior capacity for an operating business or storage-oriented use.
Key Highlights
- 4,800‑square‑foot warehouse building
- Approximately 1.16‑acre site
- Built in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,502
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,040
$610.0K
Cap Rate 7%
$435,743
$435.7K
Cap Rate 9%
$338,911
$338.9K
Market Conditions
NOI Build-Up for 4,800 SF
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.
Gross rent
$40.3K $8.40/SF
− Vacancy
−$4.4K −$0.92/SF
EGI
$35.9K $7.48/SF
− OpEx
−$5.4K −$1.12/SF
NOI
$30.5K $6.35/SF
Area
Marquette County, MI
Vacancy
11.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,040
Cap Rate 7%
$435,743
Cap Rate 9%
$338,911
Alternative Uses
Best Use
Warehouse
$435.7K
$381.3K – $508.4K
NOI $30,502 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,957 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Riverpark Storage — 2515 Schneider Mill Ct, Marquette, MI 49855
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding warehouse property with substantial exterior area for parking, equipment, and operational needs.
Where is this warehouse located?
The property is located at 600 HAWLEY ST 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: 4,800‑square‑foot warehouse building; Approximately 1.16‑acre site; Built in 1998
