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    Updated Commercial Space on Main Title is generated by Realmo AI

    137 N Main Street, Evart, MI 49631

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    For Sale
    $250,000

    COMMERCIAL - Evart, MI

    Type:Retail
    Property size:
    1,666 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $150/SF
    Added:
    Aug 21, 2025
    Days on Market:
    275
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 137 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Interior features
    Broadband
    Standard status
    Active
    APN
    51 750 388 00
    Size
    1,666 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    N 22 FT OF S 44 FT OF LOT 388 EVART CITY
    Tax Annual Amount
    1800

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    1
    Building materials
    Metal Siding, Stone

    We can help!

    Listing Contact
    Kelly Eckhardt

    Listing agent Kelly Eckhardt License #6501439151

    Listing office Five Star Real Estate - Mitchell St 301 N Mitchell St, Cadillac, MI

    Listing date Aug 21, 2025

    MLS# 25042793

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Completely renovated with new roof (installed Oct 2024), flooring, plumbing, electrical, water heater, lighting, ceilings, and paint.
    • Prime Main Street location with updated exterior including stonework, metal, new doors and windows.
    • Versatile space suitable for various commercial uses (ice cream parlor, salon, office, etc.).
    • Includes kitchenette, laundry space, and two restrooms.
    • Move‑in ready condition.
    • Broadband and cable available.

    Overview

    This updated commercial space features exterior stonework, metal accents, new doors, and new windows. A new roof was installed in October 2024. Interior updates include new flooring, updated plumbing and electrical systems, a new water heater, new lighting, new ceilings, and fresh paint. The property contains 1,666 square feet of space on a lot of 0.07 acres. Currently, the front half of the building is occupied by an ice cream business, while the back half could be used as a salon space or an office suite. The back area includes a kitchenette, laundry space, and two restrooms. Located on Main Street in Evart, Michigan, the building offers versatile spaces suitable for various commercial endeavors. The property is move-in ready.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Robin Michele Salon Hair Salon Neptune's Ice Cream ... Grocery & Convenience Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Evart Floral Boutique — 808 W 7th St, Evart, MI 49631

    Location Insight

    • Map
    • Local Demand
    City
    Evart
    County
    Osceola
    State
    Michigan
    Longitude
    -85.259821
    Latitude
    43.901602

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    FAQs

    What type of property is this?
    Storefront property - Move-in ready commercial building with versatile spaces and recent updates.
    Where is this storefront property located?
    The property is located at 137 N Main Street Evart, MI.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Completely renovated with **new roof (installed Oct 2024), flooring, plumbing, electrical, water heater, lighting, ceilings, and paint.**; **Prime Main Street location** with updated exterior including stonework, metal, new doors and windows.; Versatile space suitable for various commercial uses (ice cream parlor, salon, office, etc.).
    (231) 679-2002
    We can help!
    Listing Contact
    Kelly Eckhardt
    Real Estate License ID: 6501439151
    Learn More
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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.

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