Mixed-Use Property with Drive-Through
For Sale
$719,900
908 N Third Street, Marquette, MI 49855
Ground-floor office space is paired with a three-bedroom apartment, storage, and an attached drive-through garage.
Property Size3,558 SF
Price / SF$202.33
Days on Market567
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Property Features for 908 N Third Street
General Information
Standard status
Active
Size
3,558 SF
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Office Units
1
Additional Details
Floor
1
Amenities
reception area
meeting rooms
private office space
restroom
garage
breakroom area
ramp
Building Details
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
RE/MAX 1ST REALTY
Listed By:
KELLIE HILLIER-GENSCHAW · License #6501271285
(906) 361-7653
Source:
Exprealty
Added: Mar 28, 2025
Changed: Oct 11
Last Checked: Oct 15 at 3:00AM
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.
Located at 908 N Third Street, this 3,558-square-foot mixed-use property combines professional office space with an upper-level residential component. The commercial level includes a reception area, meeting rooms, private offices, a restroom, breakroom, storage, and an attached 14-by-31-foot drive-through garage. A ramp provides convenient access to the main floor.
The second level contains a three-bedroom, two-bath apartment with just under 2,000 square feet of living space. Its layout includes an open kitchen and dining area, hardwood floors, vaulted ceilings, skylights, and a fireplace. A third-story reading nook overlooks the living area, while a covered balcony extends toward the backyard, firepit area, and garden space.
The property is situated in the Third St. Village commercial district, surrounded by eclectic shops, dining establishments, and professional services. Improvements include newer electrical, a boiler, and a water heater.
The second level contains a three-bedroom, two-bath apartment with just under 2,000 square feet of living space. Its layout includes an open kitchen and dining area, hardwood floors, vaulted ceilings, skylights, and a fireplace. A third-story reading nook overlooks the living area, while a covered balcony extends toward the backyard, firepit area, and garden space.
The property is situated in the Third St. Village commercial district, surrounded by eclectic shops, dining establishments, and professional services. Improvements include newer electrical, a boiler, and a water heater.
Key Highlights
- 3,558‑square‑foot mixed‑use property at 908 N Third Street
- Ground‑floor office layout with reception, meeting rooms, private offices, restroom, breakroom, and storage
- Attached 14‑by‑31‑foot drive‑through garage with ramp access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,014
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,100,280
$1.1M
Cap Rate 7%
$785,914
$785.9K
Cap Rate 9%
$611,267
$611.3K
Market Conditions
NOI Build-Up for 3,558 SF
Gross rent
$85.4K $24.00/SF
− Vacancy
−$12.0K −$3.38/SF
EGI
$73.4K $20.62/SF
− OpEx
−$18.3K −$5.15/SF
NOI
$55.0K $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%
$1,100,280
Cap Rate 7%
$785,914
Cap Rate 9%
$611,267
Alternative Uses
Best Use
Office B
$785.9K
$687.7K – $916.9K
NOI $55,014 @ 7.0% cap · market cap 7.64%
Second Best
Mixed Use
$335.5K
$293.5K – $391.4K
NOI $23,483 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.05M
$916.9K – $1.22M
NOI $73,352 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,107
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor office space is paired with a three-bedroom apartment, storage, and an attached drive-through garage.
Where is this mixed-use property located?
The property is located at 908 N Third Street Marquette, MI.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: 3,558‑square‑foot mixed‑use property at 908 N Third Street; Ground‑floor office layout with reception, meeting rooms, private offices, restroom, breakroom, and storage; Attached 14‑by‑31‑foot drive‑through garage with ramp access
