Mixed-Use Property with Two
For Sale
$279,000
6485 S US41 Highway, Marquette, MI 49855
COM/IND/BUS OPP, Marquette, MI
Property Size1,740 SF
Lot Size1.75 Acres
Price / SF$160.34
Days on Market8
Property Features for 6485 S US41 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Corner Lot, Main Street
Subdivision
Chocolay Twp (52006)
Standard status
Active
Size
1,740 SF
Lot size
1.75 Acres
Taxes and HOA fees
Tax Annual Amount
1749
Utilities
Heating system
Forced Air, Electric (Heating)
Water source
Private
Building Details
Year built
2013
Listing Agency:
SELECT REALTY
(906) 228-2772
Listed By:
THERESA HUNTER · License #6501219600
(906) 250-1981
Added: Sep 18
Last Checked: Sep 25 at 8:06AM
MLS# 50222271
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.
Investment Insights
Based on property information with market context.
This commercially zoned mixed-use property includes 1.75 acres and 1,740 square feet across two buildings. The newer structure, built in 2013, combines office and storefront areas with workshop and storage space, plus a heated stall equipped with plumbing. A furnace was installed in 2025. The second building dates to approximately the 1930s–1940s and adds a two-stall garage.
The property fronts both US-41 and Mangum Road in Marquette, with a parking lot and private water service. Its existing improvements support a range of explicitly identified commercial applications, including automotive-related operations, used car sales, service businesses, retail, and other commercial ventures. The existing business is not included in the sale, although it may be negotiated separately.
The property fronts both US-41 and Mangum Road in Marquette, with a parking lot and private water service. Its existing improvements support a range of explicitly identified commercial applications, including automotive-related operations, used car sales, service businesses, retail, and other commercial ventures. The existing business is not included in the sale, although it may be negotiated separately.
Key Highlights
- 1.75‑acre commercially zoned property with 1,740 square feet of building area
- Frontage on both US‑41 and Mangum Road in Marquette
- 2013 building includes office/storefront, workshop, storage, and a heated plumbing‑equipped stall
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
$21,354
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
7.65%
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%
$427,080
$427.1K
Cap Rate 7%
$305,057
$305.1K
Cap Rate 9%
$237,267
$237.3K
Market Conditions
NOI Build-Up for 1,740 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
$31.3K $18.00/SF
− Vacancy
−$814 −$0.47/SF
EGI
$30.5K $17.53/SF
− OpEx
−$9.2K −$5.26/SF
NOI
$21.4K $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 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%
$427,080
Cap Rate 7%
$305,057
Cap Rate 9%
$237,267
Alternative Uses
Best Use
Retail
$305.1K
$266.9K – $355.9K
NOI $21,354 @ 7.0% cap · market cap 7.65%
Second Best
Flex RnD
$226.9K
$198.6K – $264.8K
NOI $15,885 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$512.5K
$448.4K – $597.9K
NOI $35,872 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned site with office, storefront, workshop, storage, garage, and parking improvements.
Where is this mixed-use property located?
The property is located at 6485 S US41 Highway Marquette, MI.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1.75‑acre commercially zoned property with 1,740 square feet of building area; Frontage on both US‑41 and Mangum Road in Marquette; 2013 building includes office/storefront, workshop, storage, and a heated plumbing‑equipped stall
