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    Freestanding Retail Building with Parking Title is generated by Realmo AI

    305 S Main Street, Romeo, MI 48065

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    Claim this Listing
    For Sale
    $365,000

    COMMERCIAL - Romeo, MI

    Property size:
    2,300 SF
    Lot size:
    0.41 Acres
    Price / SF:
    $158/SF
    Added:
    Apr 17, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 305 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Parking Lot
    Patio and Porch features
    Patio
    Exterior features
    Deck/Patio
    Standard status
    Active
    APN
    0402176013
    Size
    2,300 SF
    Lot size
    0.41 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1232

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Roof type
    Shingle

    We can help!

    Listing Contact
    Anna Rivard

    Listing agent Anna Rivard License #6506048355

    Listing office Keller Williams Realty Lakeside 45609 Village Blvd, Shelby Township, MI

    Listing date Apr 17, 2026

    MLS# 50204618

    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.

    HighLights

    • 2,300 SF freestanding commercial building on 0.41 acres in the Village of Romeo
    • 81x203 deep lot with dedicated parking lot
    • Main Street high‑visibility commercial location with steady foot and vehicle traffic
    • Central A/C and forced air heating
    • Full basement for storage
    • As‑is sale; business not for sale (currently operating as a floral shop)

    Overview

    This freestanding retail building offers approximately 2,300 square feet and includes a full basement for storage. The property features central A/C and forced air heating, supporting year-round operation for a range of retail and service concepts. The site sits on a deep 81 x 203 lot totaling 0.41 acres, with dedicated parking included. The building is being sold as-is, and the on-site business is not included.

    The property is located in the Village of Romeo at 305 S Main Street. Public remarks note high visibility with steady foot and vehicle traffic, along with the opportunity to serve customers who come through the area’s established commercial corridor.

    With dedicated parking and both main-level space and basement storage, this offering can fit tenants and buyers seeking a self-contained storefront configuration. Current use is identified as a floral shop, but the real estate is presented for new occupancy, subject to buyer due diligence and applicable requirements for the intended use. Investors and operators should review the as-is condition and plan for any customization needed to align the layout and systems with their specific business requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • The Village Florist of Romeo — 305 S Main St, Romeo, MI 48065

    Location Insight

    • Map
    • Local Demand
    City
    Romeo
    County
    Macomb
    State
    Michigan
    Longitude
    -83.013098
    Latitude
    42.796815

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    FAQs

    What type of property is this?
    Storefront property - Freestanding retail building with central A/C, forced air heat, a full basement, and dedicated parking on a deep lot.
    Where is this storefront property located?
    The property is located at 305 S Main Street Romeo, MI.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: 2,300 SF freestanding commercial building on 0.41 acres in the Village of Romeo; 81x203 deep lot with dedicated parking lot; Main Street high‑visibility commercial location with steady foot and vehicle traffic
    (586) 321-0865
    We can help!
    Listing Contact
    Anna Rivard
    Real Estate License ID: 6506048355
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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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