Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    118 W 3Rd St Rochester, MI 48307

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $564,900

    Beloved tea house for sale in downtown Rochester.

    Lot size:
    0.12 Acres

    Property Features for 118 W 3Rd St

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    0.12 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Kathleen Best
    Kathleen Best
    Source: Elliman

    Listing Agent: Kathleen Best

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Rochester Tea House Opportunity

    This tea house, a local treasure known for its inviting ambiance, is located in downtown Rochester. The property benefits from its proximity to shopping, dining, and community attractions, contributing to steady foot traffic. This property presents an opportunity to own a piece of the city's vibrant cafe culture.
    Location Intelligence

    Current Use by Public Records

    La Premier Catering Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

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

    Similar Places Nearby

    Life Cafe, The Caring Cafe, Green Cup Café, MIJUICE, Saint 1881 Coffee & Cocktail Bar

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1347598
    Latitude
    42.6795686

    Nearby Similar for Sale

    • $650,000

      Multi-Tenant Office Building Investment

      Fully occupied office building in Downtown Rochester with stable income.
      117-119 Walnut Blvd, Rochester, MI 48307
      View Details
    • $564,900
      Pending

      Downtown Rochester Tea House

      Beloved tea house in downtown Rochester, a local treasure.
      118 W 3Rd St, Rochester, MI 48307
      View Details
    • $1,200,000
      Pending

      Retail Investment Opportunity in Rochester

      Retail property for sale in Rochester, Michigan.
      406 S Main St, Rochester, MI 48307
      View Details
    • $1,150,000

      Downtown Rochester Mixed-Use Condo

      5336 Sq. Ft. retail, office, and residential condo.
      116 Terry Ave, Rochester, MI 48307
      View Details
    • $990,000

      Historic Swiss Cottage For Sale

      Historic property with redevelopment potential in Rochester, Michigan.
      428 East St, Rochester, MI 48307
      View Details
    • Contact for pricing

      Prime Retail Opportunity on Main

      High-visibility retail properties with drive-thru and pylon signage available.
      1660 E Main St, Rochester, MI 48306
      View Details
    • Contact for pricing
      83,663 SF

      Meticulously Maintained Property with Exposure

      Rare property with M-59 exposure and abundant natural light.
      3255 W Hamlin Rd, Rochester, MI 48309
      View Details
    • $1,150,000

      Downtown Rochester Retail/Office/Residential Condo

      5336 Sq. Ft. mixed-use condo in prime Downtown Rochester.
      116 Terry Ave, Rochester, MI 48307
      View Details
    • $800,000
      3,240 SF

      Downtown Rochester Industrial Building

      Prime location, 3240 sq ft, full basement.
      134 Main St, Rochester, MI 48307
      View Details
    • $2,600,000
      49,804 SF

      704 Woodward Ave Warehouse

      Rochester, MI Warehouse - $2.6M
      704 Woodward Ave, Rochester, MI 48307
      View Details
    • $1,599,000
      4,350 SF

      Rochester Mixed-Use Investment Opportunity

      Prime Downtown Location, High Visibility, Flexible Space
      311 University Dr, Rochester, MI 48307
      View Details
    • $1,699,000
      4,350 SF

      Rochester Flex Space Investment

      4,350 SF Mixed-Use, Vacant
      311 University Dr, Rochester, MI 48307
      View Details

    FAQs

    What type of property is this?
    Coffee shop - Beloved tea house for sale in downtown Rochester.
    Where is this coffee shop located?
    The property is located at 118 W 3Rd St Rochester, MI.
    What is the asking price?
    The asking price for this property is $564,900.
    What are key features of this property?
    This property features: - Prime downtown Rochester location with high foot traffic; - Established tea house with a beloved reputation and inviting ambiance; - Close proximity to shopping, dining, and community attractions
    (586) 215-3080
    Request Owner's contact information
    118 W 3Rd St Rochester, MI 48307
    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.
    118 W 3Rd St
    Rochester, MI 48307
    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
    118 W 3Rd St Rochester, MI 48307
    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

    We can help!
    Listing Contact
    Kathleen Best
    Kathleen Best
    Real Estate License ID: 6501383077
    (586) 215-3080 (248) 439-1630 (586) 792-8000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!