Restaurant with Commercial
For Sale
$449,900
824 N 3rd Street, Marquette, MI 49855
COM/IND/BUS OPP, Marquette, MI
Property Size1,744 SF
Lot Size0.02 Acres
Price / SF$257.97
Days on Market210
Property Features for 824 N 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Other
Parking features
Parking Lot
Subdivision
Moore & Sangs Add
Lot features
Main Street
Standard status
Active
Size
1,744 SF
Lot size
0.02 Acres
Tenancy & Operations
Currently Operating
Yes
Business Included
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4804
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1890
Roof type
Metal
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
FRAN SEVEGNEY
(906) 869-7465
Added: Apr 2
Changed: Oct 21
Last Checked: Oct 28 at 10:06PM
MLS# 50203415
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.
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Investment Insights
Based on property information with market context.
The Pasta Shop is an established Italian-inspired food business at 824 N 3rd Street in Marquette. Its 1,744-square-foot space includes seating for 25–30 customers and a commercial kitchen with a six-burner Vulcan gas range, flat top, two ovens, stainless steel prep surfaces, commercial ventilation, and a walk-in cooler. A deli cooler serves salads, desserts, and prepared foods.
The business has offered carryout, DoorDash, and catering. The building dates to 1890 and has forced-air heat, central air conditioning, a metal roof, public water, and a parking lot. Zoning is listed as Other.
The business has offered carryout, DoorDash, and catering. The building dates to 1890 and has forced-air heat, central air conditioning, a metal roof, public water, and a parking lot. Zoning is listed as Other.
Key Highlights
- 1,744‑square‑foot restaurant space
- Seating for 25–30 customers
- Vulcan six‑burner gas range with flat top and 2 ovens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,155
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,100
$483.1K
Cap Rate 7%
$345,071
$345.1K
Cap Rate 9%
$268,389
$268.4K
Market Conditions
NOI Build-Up for 1,744 SF
Gross rent
$33.1K $18.96/SF
− Vacancy
−$860 −$0.49/SF
EGI
$32.2K $18.47/SF
− OpEx
−$8.1K −$4.62/SF
NOI
$24.2K $13.85/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,100
Cap Rate 7%
$345,071
Cap Rate 9%
$268,389
Alternative Uses
Best Use
Specialty Retail
$345.1K
$301.9K – $402.6K
NOI $24,155 @ 7.0% cap · market cap 5.37%
Second Best
Industrial
$141.0K
$123.3K – $164.5K
NOI $9,867 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$513.6K
$449.4K – $599.2K
NOI $35,954 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 40%
BP
Shops & Services
10,849 visits/mo
0.3 miles
SUBWAY
Dining
3,084 visits/mo
0.4 miles
Jimmy John's
Dining
2,197 visits/mo
0.1 miles
Smoothie King
Dining
1,957 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The existing food business includes customer seating, catering service, and a fully equipped production kitchen.
Where is this conventional restaurant located?
The property is located at 824 N 3rd Street Marquette, MI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1,744‑square‑foot restaurant space; Seating for 25–30 customers; Vulcan six‑burner gas range with flat top and 2 ovens
