Professional Office
For Sale
$658,000
856 W Washington, Marquette, MI 49855
Private offices, meeting rooms, basement space, and on-site parking support a range of office operations.
Property Size3,563 SF
Price / SF$184.68
Days on Market123
Property Features for 856 W Washington
General Information
Standard status
Active
Size
3,563 SF
Property subtype
Commercial/Industrial
Zoning
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Property Use
Office
Amenities
reception areas
private offices
conference rooms
meeting rooms
private restrooms
ample storage
basement space
central air conditioning
zoned heating
network wiring
natural gas
public utilities
accessibility features
Wheelchair Access
Building Details
Year Built
1960
Buildings
1
Building Size
3,563 SF
Listing Agency:
Great Lakes & Land Of Marquette, Inc.
Listed By:
Tim Keohane · License #UPAR
(906) 228-9312
Source:
Jabachler
Added: Jul 1
Changed: Oct 30
Last Checked: Oct 30 at 1:47AM
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 Great Lakes & Land Of Marquette, Inc.
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Investment Insights
Based on property information with market context.
This 3,563-square-foot office building, constructed in 1960, has reception areas, private offices, conference and meeting rooms, private restrooms, storage, and basement space. Building systems include central air conditioning, zoned heating, network wiring, natural gas, public utilities, and accessibility features. The property is zoned Commercial.
Located at 856 W Washington in Marquette, the building sits along a primary commercial corridor. On-site parking and year-round access serve the property. Downtown Marquette, Northern Michigan University, UP Health System, financial institutions, restaurants, retail shops, and government and professional offices are minutes away.
Located at 856 W Washington in Marquette, the building sits along a primary commercial corridor. On-site parking and year-round access serve the property. Downtown Marquette, Northern Michigan University, UP Health System, financial institutions, restaurants, retail shops, and government and professional offices are minutes away.
Key Highlights
- 3,563 square feet of office space
- Built in 1960
- Reception areas, private offices, conference rooms, and meeting rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,091
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,820
$1.1M
Cap Rate 7%
$787,014
$787.0K
Cap Rate 9%
$612,122
$612.1K
Market Conditions
NOI Build-Up for 3,563 SF
Gross rent
$85.5K $24.00/SF
− Vacancy
−$12.1K −$3.38/SF
EGI
$73.5K $20.62/SF
− OpEx
−$18.4K −$5.15/SF
NOI
$55.1K $15.46/SF
Area
Marquette County, MI
Vacancy
14.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,820
Cap Rate 7%
$787,014
Cap Rate 9%
$612,122
Alternative Uses
Best Use
Office B
$787.0K
$688.6K – $918.2K
NOI $55,091 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$918.2K – $1.22M
NOI $73,455 @ 7.0% cap · market cap 11.16%
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
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
964
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Private offices, meeting rooms, basement space, and on-site parking support a range of office operations.
Where is this office building located?
The property is located at 856 W Washington Marquette, MI.
What is the asking price?
The asking price for this property is $658,000.
What are key features of this property?
This property features: 3,563 square feet of office space; Built in 1960; Reception areas, private offices, conference rooms, and meeting rooms
