Commercial Building with
409 N Evans St Tecumseh, MI 49286
For Sale
$279,900
Commercial building with salon and apartment near downtown Tecumseh.
Property Size1,172 SF
Price / SF$238.82
Days on Market92
Property Features for 409 N Evans St
General Information
- Standard status
- Active
- Size
- 1,172 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency:
Goedert Real Estate
(517) 902-5850
Listed By:
Dave Cubberly · License #6501383951
(517) 902-5850
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 26 at 6:02AM
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 Goedert Real Estate
Investment Insights
Based on property information with market context.
This commercial building is located three blocks from downtown Tecumseh, on a main thoroughfare with high traffic exposure. The lower level is currently configured as a beauty salon, featuring five stations, a separate drying room, a breakroom, two half baths, and a reception area with seating. All salon equipment is included in the sale. The second floor comprises a 1,172 square foot, 2-bedroom apartment. The apartment includes a large eat-in kitchen with natural light and views of Evans Creek. The spacious living room includes a fireplace and is large enough to accommodate two living spaces or a home office. The building is suitable for an owner/operator looking to live on-site. A private paved parking lot offers room for expansion. The property is a short walk to shopping, dining, and entertainment. The walk score is 44, indicating car-dependence, and the bike score is 41, indicating it is somewhat bikeable.
Key Highlights
- Commercial building with high traffic exposure, 3 blocks from downtown Tecumseh.
- Includes a fully equipped beauty salon with five stations on the lower level.
- Features a 1,172 sq. ft., 2‑bedroom apartment on the second floor.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.1k | $15.48 |
| − Vacancy | −$762 | −$0.65 |
| EGI | $17.4k | $14.83 |
| − OpEx | −$5.2k | −$4.45 |
| NOI | $12.2k | $10.38 |
1,172 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$12.95M
$11.33M – $15.10M
NOI $906,182 @ 7.0% cap · market cap 323.75%
Second Best
Retail
$173.8K
$152.1K – $202.8K
NOI $12,166 @ 7.0% cap · market cap 4.35%
Theoretical Best
Multifamily LT 5
$14.54M
$12.72M – $16.96M
NOI $1,017,859 @ 7.0% cap · market cap 363.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bonique's Hair Fashions
Hair Salon
FAQs
What type of property is this?
Retail space - Commercial building with salon and apartment near downtown Tecumseh.
Where is this retail space located?
The property is located at 409 N Evans St Tecumseh, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Commercial building with high traffic exposure, 3 blocks from downtown Tecumseh.; Includes a fully equipped beauty salon with five stations on the lower level.; Features a 1,172 sq. ft., 2‑bedroom apartment on the second floor.
