131 Michigan St Marquette, MI 49855-3821

Property Details for 131 Michigan St

Year built

1880

Lot size

0.20 lot acres

Property size

3,864 SF

Zone code

M-U

Property type

Commercial real estate

APN

52-52-001-808-50

APU

525200180850

Description

This exceptional mixed-use building in Marquette, MI presents a lucrative investment opportunity. Located just one block from Front Street and two blocks from the vibrant Third Street business district, this property boasts 4,694 square feet on a 0.2-acre lot with 13 parking spaces, many of which generate additional rental income. The main floor comprises 1,421 square feet of commercial space, currently occupied by a thriving boutique shop featuring hardwood floors, a kitchen, changing rooms, and two bathrooms. Upstairs, two two-bedroom, one-bathroom apartments offer strong rental potential, enhanced by high ceilings and large windows. All units share convenient laundry facilities. A two-car garage, currently used for storage, and a full basement provide ample additional storage. Recent upgrades include a new rubber roof, new siding, a high-efficiency boiler, and a commercial-grade air conditioner/air exchanger. The property's location is unparalleled, within walking distance of Lake Superior beaches, Northern Michigan University, and the shops and restaurants on Washington Street. Recent rent increases and significant property updates further enhance this already impressive investment opportunity. This is a rare chance to acquire a high-yield property in a highly desirable Marquette location.