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    FOR LEASE
    Individual retail properties

    872 E Michigan Ave, Marshall, MI 49068

    12,526 SF 0.17 ac lot
    Individually Owned ~ Est. High Equity
    Property ID
    US43-2202315
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Joseph Kline Fitness Training Gym & Fitness Center
    • Star Fitness Gym & Fitness Center
    • Blue Lotus Massage and Wellness LLC Alternative Medicine Practice Spa & Massage Center
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    SCOTT A HILL
    SCOTT A HILL
    Zoning & alternative use
    HIGHWAY SVC COM · Marshall, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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