Property summary
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
VerifiedCap rate & NOI
Current use
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Gym & Fitness Center
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Gym & Fitness Center
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Alternative Medicine Practice Spa & Massage Center
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
HIGHWAY SVC COM · Marshall, MIZoning
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Zoning designation
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The district profile from the municipal source: what is on file for HIGHWAY SVC COM in Marshall, MI.
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