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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    204 Fisher St Marquette, MI 49855

    • Commercial real estate
    • 1,749 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2208807
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 204 Fisher St

    Property size
    1,749 SF
    Property type
    Commercial real estate

    Description

    Exceptional investment opportunity awaits in Marquette, Michigan, with this fully rented duplex located at 204 Fisher Street. This charming side-by-side property sits on a corner lot at the intersection of Fisher and Third Street, offering convenient access to local amenities. The building comprises two separate units, each boasting two bedrooms and one bathroom, providing ample living space for tenants. Each unit enjoys the convenience of separate utilities, with the exception of water. One unit showcases a recent remodel, featuring stunning bird's-eye maple floors and a luxurious walk-in shower, enhancing its appeal and rental value. The other unit is equipped with a boiler, while the remodeled unit features a furnace, ensuring efficient and independent heating systems. This property presents a unique opportunity for investors seeking a hands-off approach, with the potential for substantial rental income. The property's location in a desirable area of Marquette further enhances its investment potential. The total square footage is 1,749 square feet, spread across the two units. The asking price for this turnkey investment is $228,000. Don't miss this chance to acquire a profitable and well-maintained multifamily property in a thriving Michigan community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marquette
    County
    Marquette
    State
    Michigan
    Longitude
    -87.3968802
    Latitude
    46.5394985

    Comparable in this City

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      Marquette Commercial Property with Apartment

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      Prime Marquette Commercial Land

      US-41 Frontage, Multi-Building Opportunity
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      Prime Marquette Industrial Corner

      18,100 sq ft industrial building on 3.86 acres.
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    Similar Nearby for Sale

    • $995,000
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      Exceptional Marquette Investment

      Multifamily & Office Complex, High Return
      321 Front St, Marquette, MI 49855
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    • $569,000
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      Marquette 5-Plex Income Opportunity

      Five-unit apartment building near downtown Marquette.
      421 N Front St, Marquette, MI 49855
      View Details
    • $889,000
      3,456 SF

      Downtown Marquette Turnkey Business Opportunity

      Profitable coffee shop with two apartments in downtown Marquette.
      223 W Washington St, Marquette, MI 49855
      View Details
    • $450,000
      2,512 SF

      Marquette Commercial Property with Apartment

      Versatile commercial property with residential opportunities and income potential.
      325 Erickson St, Marquette, MI 49855
      View Details
    • $3,800,000
      2.20 Acres

      Prime Marquette Commercial Land

      US-41 Frontage, Multi-Building Opportunity
      2100 Us Highway 41, Marquette, MI 49855
      View Details
    • $3,900,000
      18,100 SF

      Prime Marquette Industrial Corner

      18,100 sq ft industrial building on 3.86 acres.
      919 Baraga Ave, Marquette, MI 49855
      View Details
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    204 Fisher St
    Marquette, MI 49855
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    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
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