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Property profile & analytics
OFF-MARKET
Commercial real estate
1502 Washington St Marquette, MI 49855-3118
Entity Owned
Free & Clear
Property ID
US43-2006079
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1978
Total area
8,650 SF
Lot
0.72 ac (31,363 SF)
Zoning code
GC
APN
52-52-005-136-32
UPID
US43-2006079
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
FIRST BANK UPPER MICHIGAN
FIRST BANK UPPER MICHIGAN
Zoning & alternative use
GC · Marquette, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The GC district is intended to provide suitable areas for businesses that cater to both the local and regional market, Uses include offices,retailand wholesale businesses,services,light manufacturing, comparison shopping and land intensive establishments, which may be located so as to utilize a commonparkingarea, or may provide their own parking separately
Zone name
General Commercial District
General category
INDUSTRIAL
Zone area
101.99 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Marquette submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marquette submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,405
Tax year 2023
Assessed value
$945,600
Assessed 2023
Previous assessed
$886,916
+6.6% YoY
Effective rate
3.85%
On assessed value
Total market value
$1,891,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Stories
1
Total area
8,650 SF
Lot
0.72 ac (31,363 SF)
Zoning code
GC
APN
52-52-005-136-32
UPID
US43-2006079
Jurisdiction
MARQUETTE
Zoning & alternative use
GC · Marquette, MIZoning GC · permitted uses
GC · Marquette, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The GC district is intended to provide suitable areas for businesses that cater to both the local and regional market, Uses include offices,retailand wholesale businesses,services,light manufacturing, comparison shopping and land intensive establishments, which may be located so as to utilize a commonparkingarea, or may provide their own parking separately
Zone name
General Commercial District
General category
INDUSTRIAL
Zone area
101.99 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1978
Heating
FORCED AIR
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
FIRST BANK UPPER MICHIGAN
Individual
Free & Clear · 0 yrs held
Mailing address
1502 W WASHINGTON ST, MARQUETTE, MI 49855-3118
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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