Retail Storefront with Barber
For Sale
$100,000
108 Grand St, Michigan Center, MI 49254
Includes barber equipment, salon fixtures, and a remodeled private office.
Property Size420 SF
Price / SF$238.10
Days on Market26
Property Features for 108 Grand St
General Information
Standard status
Active
Size
420 SF
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1971
Listing Agency:
Century 21 Affiliated - Jackson
(517) 775-1388
Listed By:
Logan Everett · License #6501411675
Source:
Katie-k
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 30 at 8:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Affiliated - Jackson
Investment Insights
Based on property information with market context.
This 1971-built storefront at 108 Grand St includes improvements completed over the past decade, including a 2020 roof and gutters, 2023 interior and exterior paint, and a 2022 remodel of the private office with separate entrances. Plumbing, lighting, electrical systems, flooring, security features, HVAC, and the on-demand water heater have also been updated or maintained. The property is connected to municipal water and sewer.
The interior retains equipment and furnishings from its former barbershop operation, including two styling chairs, mirrors, workstations with storage, a UV sanitizer, waiting-area furniture, televisions, signage, inventory, and supplies. Outdoor improvements include two resin storage sheds measuring 4x6 and 8x10, along with lawn-care equipment. The space has also been described as adaptable for office, retail, or similar commercial use.
The interior retains equipment and furnishings from its former barbershop operation, including two styling chairs, mirrors, workstations with storage, a UV sanitizer, waiting-area furniture, televisions, signage, inventory, and supplies. Outdoor improvements include two resin storage sheds measuring 4x6 and 8x10, along with lawn-care equipment. The space has also been described as adaptable for office, retail, or similar commercial use.
Key Highlights
- 1971‑built storefront at 108 Grand St, Leoni Township, MI 49254
- 2020 roof and gutters with 35‑year shingles
- 2023 interior and exterior paint; private office remodeled in 2022
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
$2,896
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
2.90%
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%
$57,920
$57.9K
Cap Rate 7%
$41,371
$41.4K
Cap Rate 9%
$32,178
$32.2K
Market Conditions
NOI Build-Up for 420 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
$5.0K $12.00/SF
− Vacancy
−$902 −$2.15/SF
EGI
$4.1K $9.85/SF
− OpEx
−$1.2K −$2.96/SF
NOI
$2.9K $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%
$57,920
Cap Rate 7%
$41,371
Cap Rate 9%
$32,178
Alternative Uses
Best Use
Retail
$41.4K
$36.2K – $48.3K
NOI $2,896 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$67.0K
$58.7K – $78.2K
NOI $4,693 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 12%
Shell
Shops & Services
9,446 visits/mo
0.1 miles
Dollar General
Shops & Services
7,232 visits/mo
0.4 miles
Citgo
Shops & Services
4,600 visits/mo
0.5 miles
Los Tres Amigos
Dining
2,578 visits/mo
0.1 miles
Dairy Queen
Dining
293 visits/mo
0.1 miles
Demographics for 49254, MI
3,163
Population
1,805
Households
1.8
Avg Household Size
44
Median Age
22%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
1,217
Density / Sq Mi
$73,750
Median Household Income
$50,923
Median Earnings
$1,038
Median Rent
$167,300
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?
Storefront property - Includes barber equipment, salon fixtures, and a remodeled private office.
Where is this storefront property located?
The property is located at 108 Grand St Michigan Center, MI.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: 1971‑built storefront at 108 Grand St, Leoni Township, MI 49254; 2020 roof and gutters with 35‑year shingles; 2023 interior and exterior paint; private office remodeled in 2022
