General Commercial Corner
866 W Washington Street Marquette, MI 49855
For Sale
$499,900
General commercial corner lot with highway frontage and visibility at a major traffic light intersection.
Property Size2,772 SF
Price / SF$180.34
Days on Market339
Property Features for 866 W Washington Street
General Information
- Standard status
- Active
- Size
- 2,772 SF
Listing Agency:
RE/MAX 1ST REALTY
(906) 360-4462
Listed By:
GINA FELTNER BOUWS · License #6501297275
(906) 360-4462
Source:
Exprealty
Added: Aug 19, 2025
Changed: Jul 22
Last Checked: Jul 22 at 4:18PM
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 commercial business corner lot features highway frontage and visibility at a major traffic light cross section. The property is positioned directly across from the Liberty Way development, Staybridge Suites, and Nicolet Bank, supporting strong exposure to surrounding destination traffic. Public remarks estimate approximately 22,000 vehicles per day passing the intersection.
Zoned general commercial, the site includes a standout property built circa 1890. It offers the option to restore the existing structure’s character for an ongoing business use or to create something brand new on the lot, depending on the direction you want to take.
Overall, this is a well-situated corner parcel with direct frontage and a high-traffic setting, designed for a range of general commercial business concepts.
Zoned general commercial, the site includes a standout property built circa 1890. It offers the option to restore the existing structure’s character for an ongoing business use or to create something brand new on the lot, depending on the direction you want to take.
Overall, this is a well-situated corner parcel with direct frontage and a high-traffic setting, designed for a range of general commercial business concepts.
Key Highlights
- General commercial corner lot with highway frontage at a major traffic light intersection
- Approx. 22,000 vehicles per day at the cross‑section intersection
- Built circa 1890
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.9k | $18.00 |
| − Vacancy | −$1.3k | −$0.47 |
| EGI | $48.6k | $17.53 |
| − OpEx | −$14.6k | −$5.26 |
| NOI | $34.0k | $12.27 |
2,772 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$486.0K
$425.2K – $567.0K
NOI $34,019 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$816.4K
$714.4K – $952.5K
NOI $57,148 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - General commercial corner lot with highway frontage and visibility at a major traffic light intersection.
Where is this storefront property located?
The property is located at 866 W Washington Street Marquette, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: General commercial corner lot with highway frontage at a major traffic light intersection; Approx. 22,000 vehicles per day at the cross‑section intersection; Built circa 1890
