Equipped Salon
For Sale
Under Contract
$81,999
107 Homer Road, Concord, MI 49237
Commercial Sale, Concord, MI
Property Size764 SF
Lot Size0.03 Acres
Price / SF$107.33
Days on Market165
Property Features for 107 Homer Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Concord
Middle school district
Concord
High school district
Concord
Standard status
Active Under Contract
APN
005-11-27-351-005-00
Size
764 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEG AT THE INTERSECTION OF THE W LN OF MAIN ST WITH THE SLY LN OF HOMER RD TH S 69 degrees 54'W ALG THE SLY LN OF HOMER RD 132.
Tax Annual Amount
1523
Legal Description
BEG AT THE INTERSECTION OF THE W LN OF MAIN ST WITH THE SLY LN OF HOMER RD TH S 69 degrees 54'W ALG THE SLY LN OF HOMER RD 132.
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1952
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
ALEX C PERLOS · License #6501210977
(517) 740-4421
Added: Apr 13
Changed: Sep 16
Last Checked: Sep 24 at 1:06PM
MLS# 26015115
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.
Investment Insights
Based on property information with market context.
This 764-square-foot salon property in Concord offers a furnished operating setup with styling stations, chairs, wash stations, laundry equipment, and related salon furnishings. The interior layout is designed around salon services, with a bathroom included and the listed furnishings and equipment remaining with the property.
Built in 1952, the building has brick construction, central air conditioning, and forced-air heating. Phone service is available. Located at 107 Homer Road in Concord, Michigan, the property occupies a 0.03-acre lot in Jackson County.
Built in 1952, the building has brick construction, central air conditioning, and forced-air heating. Phone service is available. Located at 107 Homer Road in Concord, Michigan, the property occupies a 0.03-acre lot in Jackson County.
Key Highlights
- 764‑square‑foot salon property at 107 Homer Road, Concord, MI 49237
- Styling stations, chairs, wash stations, laundry, and equipment included
- Brick construction on a 0.03‑acre lot
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
$5,269
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
6.43%
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%
$105,380
$105.4K
Cap Rate 7%
$75,271
$75.3K
Cap Rate 9%
$58,544
$58.5K
Market Conditions
NOI Build-Up for 764 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
$9.2K $12.00/SF
− Vacancy
−$1.6K −$2.15/SF
EGI
$7.5K $9.85/SF
− OpEx
−$2.3K −$2.96/SF
NOI
$5.3K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$105,380
Cap Rate 7%
$75,271
Cap Rate 9%
$58,544
Alternative Uses
Best Use
Retail
$75.3K
$65.9K – $87.8K
NOI $5,269 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$122.0K
$106.7K – $142.3K
NOI $8,537 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49237, MI
3,027
Population
1,265
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
92%
High-School Grad
41.0 sq mi
ZIP Area
74
Density / Sq Mi
$66,667
Median Household Income
$43,906
Median Earnings
$806
Median Rent
$179,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Established salon setup with furnishings, styling stations, wash stations, laundry equipment, central air, and forced-air heating.
Where is this spa & wellness property located?
The property is located at 107 Homer Road Concord, MI.
What is the asking price?
The asking price for this property is $81,999.
What are key features of this property?
This property features: 764‑square‑foot salon property at 107 Homer Road, Concord, MI 49237; Styling stations, chairs, wash stations, laundry, and equipment included; Brick construction on a 0.03‑acre lot
