Four-Story Mixed-Use
For Sale
$295,000
756 W Washington Street, Marquette, MI 49855
Multi-Use zoning and substantial on-site parking support storefront, office, or residential income configurations.
Property Size1,624 SF
Lot Size0.33 Acres
Price / SF$181.65
Days on Market311
Property Features for 756 W Washington Street
General Information
Standard status
Active
Size
1,624 SF
Lot size
0.33 Acres
Zoning
Multi-Use
Amenities
bathrooms
storage
walk-out basement
Building Details
Stories
4
Listing Agency:
RE/MAX 1ST REALTY
(906) 360-9765
Listed By:
FRIDA WAARA · License #6501361553
(906) 360-9765
Source:
Exprealty
Added: Oct 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:10AM
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 mixed-use property at 756 W Washington Street is arranged across four floors within a 25-by-25-foot footprint. The main level and upper floor each include a bathroom, while the painted attic provides storage space and the walk-out basement adds another usable area. The property is zoned Multi-Use, supporting the storefront, office, and residential income concepts identified for the building.
An extra-deep double lot measures 100 by 142 feet and provides substantial parking capacity. The site may also accommodate expansion, subject to applicable approvals. Its downtown Marquette address places the property on W Washington Street in Marquette, Michigan.
An extra-deep double lot measures 100 by 142 feet and provides substantial parking capacity. The site may also accommodate expansion, subject to applicable approvals. Its downtown Marquette address places the property on W Washington Street in Marquette, Michigan.
Key Highlights
- Four‑floor mixed‑use building on a 25‑by‑25‑foot footprint
- Multi‑Use zoning supports storefront, office, and residential income concepts
- Main level and upper floor each include a bathroom
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
$19,930
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
6.76%
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%
$398,600
$398.6K
Cap Rate 7%
$284,714
$284.7K
Cap Rate 9%
$221,444
$221.4K
Market Conditions
NOI Build-Up for 1,624 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
$29.2K $18.00/SF
− Vacancy
−$760 −$0.47/SF
EGI
$28.5K $17.53/SF
− OpEx
−$8.5K −$5.26/SF
NOI
$19.9K $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%
$398,600
Cap Rate 7%
$284,714
Cap Rate 9%
$221,444
Alternative Uses
Best Use
Retail
$284.7K
$249.1K – $332.2K
NOI $19,930 @ 7.0% cap · market cap 6.76%
Second Best
Mixed Use
$153.1K
$134.0K – $178.6K
NOI $10,718 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Shops & Services 8%
Hotels & Casinos 3%
McDonald's
Dining
28,419 visits/mo
0.3 miles
KFC
Dining
7,624 visits/mo
0.2 miles
Hardee's
Dining
7,262 visits/mo
0.4 miles
SUBWAY
Dining
3,585 visits/mo
0.3 miles
BP
Shops & Services
3,286 visits/mo
0.5 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-Use zoning and substantial on-site parking support storefront, office, or residential income configurations.
Where is this mixed-use property located?
The property is located at 756 W Washington Street Marquette, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Four‑floor mixed‑use building on a 25‑by‑25‑foot footprint; Multi‑Use zoning supports storefront, office, and residential income concepts; Main level and upper floor each include a bathroom
