Retail Storefront with Barber
For Sale
$100,000
108 Grand Street, Michigan Center, MI 49254
Commercial Sale, Michigan Center, MI
Property Size420 SF
Lot Size0.10 Acres
Price / SF$238.10
Days on Market74
Property Features for 108 Grand Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Michigan Center
Middle school district
Michigan Center
High school district
Michigan Center
Standard status
Active
APN
000-14-09-104-005-00
Size
420 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE S 1/2 OF LOT 2 IN BLOCK 75 OF VILLAGE OF MICHIGAN CENTER SEC 9 T3S R1E
Tax Annual Amount
708
Legal Description
THE S 1/2 OF LOT 2 IN BLOCK 75 OF VILLAGE OF MICHIGAN CENTER SEC 9 T3S R1E
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1971
Number of units
1
Building materials
Block
Listing Agency:
Century 21 Affiliated - Jackson
(517) 888-0050
Listed By:
Logan Everett · License #6501411675
(517) 775-1388
Added: Jul 14
Changed: Sep 7
Last Checked: Sep 25 at 3:06PM
MLS# 26035799
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 420-square-foot retail storefront was built in 1971 and is configured for barber, salon, office, or other commercial use. The property includes a private office with separate entrances, a bathroom, updated plumbing, lighting, and electrical systems, plus forced-air heating and central air conditioning. Interior and exterior paint were completed in 2023, while the roof and gutters were replaced in 2020 with 35-year shingles. Additional improvements include vinyl plank flooring, newer secure-entry doors and keypads, security cameras with indoor monitors, an on-demand water heater, and a salt-free electronic water softener.
The sale includes two barber chairs, mirrors and workstations with storage, a UV sanitizer, waiting-area furniture, televisions, signs, inventory, and supplies. Outdoor improvements include resin storage sheds measuring 4x6 and 8x10, along with lawn-maintenance equipment. The property is connected to municipal water and sewer and includes cable availability.
The sale includes two barber chairs, mirrors and workstations with storage, a UV sanitizer, waiting-area furniture, televisions, signs, inventory, and supplies. Outdoor improvements include resin storage sheds measuring 4x6 and 8x10, along with lawn-maintenance equipment. The property is connected to municipal water and sewer and includes cable availability.
Key Highlights
- 420 square feet of retail storefront space
- 0.1‑acre lot in Michigan Center
- Built in 1971; roof and gutters replaced in 2020
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
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 17%
Home Improvements & Furnishings 2%
Shell
Shops & Services
5,401 visits/mo
0.1 miles
Sunoco
Shops & Services
3,211 visits/mo
0.5 miles
Huntington Bank
Shops & Services
2,722 visits/mo
0.3 miles
Pizza Hut
Dining
2,431 visits/mo
0.3 miles
Andy's Ace Hardware
Home Improvements & Furnishings
219 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial storefront with updated building systems, private office access, and barber equipment included.
Where is this storefront property located?
The property is located at 108 Grand Street 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: 420 square feet of retail storefront space; 0.1‑acre lot in Michigan Center; Built in 1971; roof and gutters replaced in 2020
