Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6485 Bluewater Ct Marlette, MI 48453
    Property profile & analytics

    6485 Bluewater Ct, Marlette, MI 48453

    View on Map
    • Retail properties & Spaces
    • 10,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 6485 Bluewater Ct

    Year built
    2023
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a 10,500 square foot, newly constructed (2023) Family Dollar/Dollar Tree dual-concept store in Marlette, Michigan. Located at 6485 Bluewater Ct, this freestanding building boasts a 10.1-year net lease (NN+) with a strong credit-rated tenant (BBB rating), ensuring minimal landlord responsibilities. The lease commenced November 1, 2023, and includes four five-year renewal options with a $0.50 per square foot rent increase at each option. The property offers a 7.50% cap rate and a substantial net operating income (NOI) of $131,250. The asking price is $1,750,000 ($166.67 per square foot). Situated on a high-traffic road (12,313 cars daily), this location benefits from a strong demographic profile: a 10-mile population of 14,543 and a 10-mile average household income of $65,107. The property's upgraded exterior ensures long-term durability. This is an ideal investment for a 1031 exchange or passive investor seeking a secure, high-return retail property with a proven, nationally recognized tenant. The store's strategic location and the tenant's financial strength promise continued success and profitability. The property is 100% occupied.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marlette
    County
    Sanilac
    State
    Michigan
    Longitude
    -83.0791
    Latitude
    43.3317

    Comparable in this City

    • Value Estimation by Request

      2717 Main St

      COMMERCIAL (GENERAL)
      2717 Main St, Marlette, MI 48453-1135
      View Details
    • Value Estimation by Request

      2875 Main St

      COMMERCIAL (GENERAL)
      2875 Main St, Marlette, MI 48453-1139
      View Details
    • Value Estimation by Request

      3481 Main St

      INDUSTRIAL (GENERAL)
      3481 Main St, Marlette, MI 48453-1240
      View Details
    • Value Estimation by Request
      1.51 Acres

      Sanilac

      COMMERCIAL (GENERAL)
      Sanilac, Marlette, MI 48453
      View Details
    • Value Estimation by Request
      1.26 Acres

      2490 Van Dyke Rd

      COMMERCIAL (GENERAL)
      2490 Van Dyke Rd, Marlette, MI 48453-9638
      View Details
    • Value Estimation by Request

      3387 Wilson St

      COMMERCIAL (GENERAL)
      3387 Wilson St, Marlette, MI 48453-1411
      View Details

    Similar Nearby for Sale

    • $735,000
      8,320 SF

      Prime Retail Building, Marlette, Michigan

      8,320 SF freestanding building on Main Street in downtown Marlette.
      2941 Main St, Marlette, MI 48453
      View Details
    • $649,000
      65.49 Acres

      66 Acres Prime Development Land

      66-acre parcel ideal for residential or commercial development in Marlette.
      2701 Golf Course Dr, Marlette, MI 48453
      View Details
    • $450,000
      4,864 SF

      Marlette Industrial Gem

      Versatile Mixed-Use Building, 4,864 sq ft
      6429 Locust St, Marlette, MI 48453
      View Details
    • $220,000
      0.10 Acres

      Downtown Marlette Industrial Gem

      Historic building, 2200+ sq ft, dual entrances.
      3014 Main St, Marlette, MI 48453
      View Details
    • $189,000
      2.86 Acres

      Prime Commercial Land on M-53

      2.86-acre commercial parcel in Marlette's thriving commercial district.
      S Main St, Marlette, MI 48453
      View Details
    • $225,000
      5.00 Acres

      Residential Lots in Marlette, MI

      20 residential lots, approximately 5 acres, prime development opportunity.
      20 Vacant Lots Concord Cranbrook & Tulane, Marlette, MI 48453
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6485 Bluewater Ct
    Marlette, MI 48453
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6485 Bluewater Ct, Marlette, MI, 48453
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!