Property profile

872 E Michigan Ave Marshall, MI 49068

FOR LEASE
Individual retail properties
Property ID
US43-2202315
12,526 SF 0.17 ac lot
Individually Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 12,526 square foot banquet facility, located at 872 E Michigan Ave in Marshall, Michigan (49068), presents a unique investment opportunity. Built in 1980 and renovated in 2016, this single-story, Class C building sits on a 1.2-acre lot (APN: 15-305-021-00) and is zoned HIGHWAY SVC COM. Currently operating at 50% occupancy, the property boasts a fully furnished interior, including a professional kitchen, full bar, freezer, and cooler, capable of seating up to 276 guests. The property's history includes hosting weddings, birthday parties, business banquets, and other events. The ample parking provides significant expansion potential, particularly for outdoor wedding venues. Currently, a portion of the space is leased to Star Fitness and Emily Arnold LMT. A Michigan Class C liquor license is available for purchase separately, for on-site use only. This turnkey operation offers multiple revenue streams, including the potential for a thriving restaurant or bar. The property's established reputation and versatile layout make it an ideal investment for a savvy entrepreneur seeking a high-return opportunity in a desirable Michigan location. The asking price is $695,000.

Property profile

Verified
Property type Individual retail properties
Use group GYM, HEALTH SPA
Total area 12,526 SF
Lot 0.17 ac (7,405 SF)
Zoning code HIGHWAY SVC COM
APN 15-305-021-00
UPID US43-2202315

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gym & Fitness Center
  • Gym & Fitness Center
  • Alternative Medicine Practice Spa & Massage Center

Location

872 E Michigan Ave Marshall, MI 49068
Marshall metro Census 4000 BATTLE CREEK, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history

Zoning & alternative use

HIGHWAY SVC COM · Marshall, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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