Turnkey Salon Ready for
For Sale
$81,999
107 Homer Road, Concord, MI 49237
COMMERCIAL - Concord, MI
Property Size764 SF
Lot Size0.03 Acres
Price / SF$107.33
Days on Market119
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
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: Aug 4
Last Checked: Aug 9 at 12:06AM
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.
Turnkey salon space offered for sale at 107 Homer Road, Concord, MI 49237. The interior is fully equipped and furnished for immediate operation, with styling stations and chairs, wash stations, and included laundry and other equipment. The layout is designed to be clean, functional, and client-friendly, giving a ready-to-run setup for a new owner.
This is a commercial retail space in Concord with an established, complete salon buildout and all furnishings and equipment included in the sale. Flexible purchase options are noted, including owner financing for qualified buyers and a potential lease-to-own structure.
This is a commercial retail space in Concord with an established, complete salon buildout and all furnishings and equipment included in the sale. Flexible purchase options are noted, including owner financing for qualified buyers and a potential lease-to-own structure.
Key Highlights
- Turnkey Salon: Fully equipped and ready for immediate operation.
- Flexible Purchase Options: Owner financing and potential lease‑to‑own available.
- Fully Furnished: Includes styling stations, chairs, wash stations, laundry, and equipment.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully furnished salon is set up for immediate operation, including styling, wash, and laundry equipment.
Where is this retail space 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: Turnkey Salon: Fully equipped and ready for immediate operation.; Flexible Purchase Options: Owner financing and potential lease‑to‑own available.; Fully Furnished: Includes styling stations, chairs, wash stations, laundry, and equipment.
