Renovated Short-Term Rental
For Sale
$214,900
1401 Saint Clair Boulevard, Algonac, MI 48001
COM/IND/BUS OPP, Algonac, MI
Property Size1,404 SF
Lot Size0.70 Acres
Price / SF$153.06
Days on Market42
Property Features for 1401 Saint Clair Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Algonac (74028)
Standard status
Active
APN
01-105-0187-000
Size
1,404 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Water source
Public
Listing Agency:
RE/MAX Advisors · RE/MAX International
(586) 725-1900
Listed By:
Laura Janski · License #6501328247
(810) 300-0262
Added: Jul 26
Changed: Aug 27
Last Checked: Sep 5 at 7:06AM
MLS# 50216225
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1404-square-foot property combines two distinct income-producing sections within one building. The larger portion is a fully renovated two-bedroom cottage operated as a VRBO, with an open living area, full kitchen, nautical-inspired wood ceiling, Smart TV, and Wi-Fi. On-site trailer parking is also included. A smaller salon area provides an additional monthly rental stream.
The property occupies 0.7 acres at 1401 Saint Clair Boulevard in Algonac, Michigan. It is located two blocks from the public boat launch and within walking distance of downtown Algonac. The St. Clair River, Lake St. Clair, marinas, fishing, parks, dining, and waterfront activities are identified nearby. Public water service supports the property.
The property occupies 0.7 acres at 1401 Saint Clair Boulevard in Algonac, Michigan. It is located two blocks from the public boat launch and within walking distance of downtown Algonac. The St. Clair River, Lake St. Clair, marinas, fishing, parks, dining, and waterfront activities are identified nearby. Public water service supports the property.
Key Highlights
- 1404‑square‑foot building on 0.7 acres
- Fully renovated two‑bedroom cottage operated as a VRBO
- Separate salon section provides additional monthly rental income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$193,760
$193.8K
Cap Rate 7%
$138,400
$138.4K
Cap Rate 9%
$107,644
$107.6K
Market Conditions
NOI Build-Up for 1,404 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.8K $12.00/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$15.5K $11.04/SF
− OpEx
−$5.8K −$4.14/SF
NOI
$9.7K $6.90/SF
Area
St. Clair County, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$193,760
Cap Rate 7%
$138,400
Cap Rate 9%
$107,644
Alternative Uses
Best Use
Apartment 5plus
$971.9K
$850.4K – $1.13M
NOI $68,030 @ 7.0% cap · market cap 31.66%
Second Best
Mixed Use
$138.4K
$121.1K – $161.5K
NOI $9,688 @ 7.0% cap · market cap 4.51%
Theoretical Best
Multifamily LT 5
$1.06M
$923.6K – $1.23M
NOI $73,884 @ 7.0% cap · market cap 34.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 48001, MI
11,721
Population
5,787
Households
2
Avg Household Size
50
Median Age
18%
College-Educated
94%
High-School Grad
19.0 sq mi
ZIP Area
617
Density / Sq Mi
$64,538
Median Household Income
$35,987
Median Earnings
$921
Median Rent
$250,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Two-bedroom cottage with a separately leased salon section and public water service.
Where is this short term rental property located?
The property is located at 1401 Saint Clair Boulevard Algonac, MI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 1404‑square‑foot building on 0.7 acres; Fully renovated two‑bedroom cottage operated as a VRBO; Separate salon section provides additional monthly rental income
