1104 W Washington St - Office/Residential FOR SALE


Marquette, MI 49855
$325,000 USD
906-250-5548
1104 W Washington St, Marquette, MI for Sale
$325,000 USD
Office/Residential - FOR SALE
1/13
null | 10.34% Cap Rate

Apr '27


1104 W Washington St
Marquette, MI 49855


HIGHLIGHTS

  • Located on Marquette’s US 41 Business Corridor offering high exposure and traffic flow.
  • Two-story building with both suites leased providing consistent income streams.
  • Long-term lease agreements through 2027 and 2028 support investment security.
  • Upgrades include major remodel, exterior residing, drainage improvements, and recent water heater installation.
  • Convenient access and parking across upper and lower lots for tenants and visitors.
  • Property priced significantly below assessed value positioning it as an attractive buy.

OVERVIEW

Public Remarks **Prime Commercial Investment Opportunity in Marquette, Michigan!** Located at 1104 Washington St, this exceptional property is listed for $325,000, significantly below its assessed value of $417,200. This strategically positioned commercial office and retail building sits prominently on the highly trafficked US 41 Business Corridor, near the McClellan/Washington four-way stoplight, providing unparalleled visibility and accessibility for various business ventures. The building offers a total space of 2,408 sq ft, featuring two spacious suites—one upstairs and one downstairs—both of which are currently leased. The upstairs suite has a lease ending in August 2028, while the ground floor lease concludes in April 2027. Ample parking is available across upper and lower lots, accommodating both tenants and customers. This property has a strong rental history, making it a sound investment opportunity in a thriving area. Income and expense reports are available upon request, subject to a signed confidentiality agreement. Over the years, the property has been diligently maintained and updated, showcasing several key improvements: a major remodel in 1996 that included most window replacements; exterior residing completed in 2003; additional window replacements in 2005; excavation and drainage enhancements from 2007 to 2008; an extensive remodel of the upstairs suite in 2010 for a winery, which included plumbing, new bathrooms, and flooring; and a recent remodel of the lower level in 2024 for the current tenant, along with the installation of a new water heater. The boiler was replaced in March of 2016. And both units have mini split systems for AC or back up heat. Regular maintenance, including sealing the roof every two years, ensures the property remains in excellent condition, with the last seal completed in July 2024. This commercial property presents a unique blend of location, visibility, and income potential, making it an ideal choice for investors looking to capitalize on the Marquette market. Don’t miss the opportunity to add this valuable asset to your portfolio. With both units currently leased, you can collect rent until you occupy the lower level yourself in less than a year. Contact us today for lease details and financial reports, available upon a signed confidentiality agreement.

FOR SALE DETAILS

PRICE

$325,000 USD

PRICE/SF

$135 USD /SF

CAP RATE

10.34%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

GC

APN/PARCEL ID

52-52-002-700-12

ASK ABOUT THIS PROPERTY

Jennifer CoscoSelect RealtyMore Info
906-250-5548

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Jennifer CoscoSelect RealtyMore Info
906-250-5548

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.