Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Main Street Commercial Building, Lexington Title is generated by Realmo AI

    5520 Main, Lexington, MI 48450

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $349,900

    Commercial/Industrial - Lexington, MI

    Property size:
    1,600 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $218/SF
    Added:
    Sep 20, 2025
    Days on Market:
    245
    Last Refresh:
    May 22 at 1:06 am

    Property Features for 5520 Main

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Patio and Porch features
    Patio, Deck
    Interior features
    Living Quarters
    Exterior features
    Deck/Patio, Fence Owned
    Fencing
    Fenced
    Standard status
    Active Under Contract
    APN
    152-320-000-057-00
    Size
    1,600 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5654.93

    Utilities

    Heating system
    Heat Pump (Heating), Wall Furnace
    Cooling system
    Heat Pump

    Building Details

    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Rickerman
    Michael Rickerman

    Listing agent Michael Rickerman License #6506045489

    Listing office Epique Inc. 411 S Main Street, Houston, MI

    Listing date Sep 20, 2025

    MLS# 50189112 Listing URL

    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

    • Prime Main Street location in the heart of Lexington with private parking.
    • Two income streams: Long‑term commercial lease (Cadillac House Hotel fitness facility) and popular AirBnB.
    • Move‑in ready with recent renovations including new roof, siding, and windows (2020).
    • Upper level features a 2‑bedroom, 1‑bath living quarters.
    • Dual heating and cooling systems: Natural gas wall furnaces and mini‑splits.
    • Includes a new rear deck (2021) and new washer/dryer (2024) in the upper unit.

    Overview

    Located on Main Street (M-25) in the Village of Lexington, this commercial building offers a prime location with private parking. The main floor is currently leased to the Cadillac House Hotel and serves as their exercise/fitness facility. The upper level features a 2-bedroom, 1-bath living quarters, which is currently operated as a popular AirBnB. The building has undergone recent renovations, including a new roof and vinyl siding in 2020, new windows in the main floor and upper units in 2020, a new rear deck in 2021, a new door for the upper unit in 2021, and a new washer and dryer in the upper unit in 2024. The property includes city water and sewer services. Heating is provided by natural gas wall furnaces on each level, supplemented by mini-splits for additional heating and cooling. Buildings with private parking are uncommon in the Village.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    TruePoint Investigations, Inc Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Sanilac
    State
    Michigan
    Longitude
    -82.531071
    Latitude
    43.268119

    Nearby Similar for Sale

    • $455,000
      2,145 SF

      Turn-Key Commercial Property in Lexington

      Charming commercial property with inventory included in downtown Lexington.
      5454 Main, Lexington, MI 48450
      View Details
    • $175,000
      360 SF

      Unique Commercial Space in Lexington

      Distinctive commercial building in the heart of Lexington, Michigan.
      5481 Main, Lexington, MI 48450
      View Details
    • $700,000
      2,350 SF

      74.89 Acre Agricultural Land Parcel

      74.89 acres of tillable farmland with woods and pond.
      6471 Burns Line, Lexington, MI 48450
      View Details
    • $49,900

      Turnkey RV Getaway in Lexington

      Move-in ready RV in Lexington RV Resort near amenities.
      5236 Fredicksburg Ln, Lexington Vlg, MI 48450
      View Details
    • $175,000

      Unique Commercial Space in Lexington

      Distinctive octagon-shaped building in downtown Lexington, near Lake Huron.
      5481 Main St, Lexington, MI 48450
      View Details
    • $199,900
      5,272 SF

      Lexington Commercial Property with Licenses

      Commercial property with licenses and living quarters in Lexington, MI.
      7023 Lakeshore, Lexington, MI 48450
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial building with private parking and residential income potential.
    Where is this retail space located?
    The property is located at 5520 Main Lexington, MI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Prime Main Street location in the heart of Lexington with private parking.; Two income streams: Long‑term commercial lease (Cadillac House Hotel fitness facility) and popular AirBnB.; Move‑in ready with recent renovations including new roof, siding, and windows (2020).
    (810) 712-1568
    We can help!
    Listing Contact
    Michael Rickerman
    Michael Rickerman
    Real Estate License ID: 6506045489
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5520 Main, Lexington, MI 48450
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!