Retail Space with Grooming
New
For Sale
$650,000
136 Concord Road, Jonesville, MI 49250
Furnished commercial facility with reception, retail, grooming, kennel, and administrative areas.
Property Size4,000 SF
Days on Market2
Property Features for 136 Concord Road
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,983
Building Details
Building Size
4,000 SF
Year Built
1960
Buildings
1
Units
1
Listing Agency:
RE/MAX Preferred Realty
(517) 398-3400
Listed By:
Alicia J Galloway · License #348455
(517) 398-3400
Source:
Eliterealtymi
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 9:29AM
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 RE/MAX Preferred Realty
Investment Insights
Based on property information with market context.
This retail property operates as a dog kennel and grooming facility with furnishings in place. The interior includes a reception and waiting area, front desk, retail section, private office, break and storage room, laundry room, two bathrooms, and a grooming room with a professional bathing tub.
Separate kennel spaces accommodate large and small dogs. Each area connects directly to its own secure fenced outdoor play yard measuring approximately 1,500 square feet. The property is located at 136 Concord Road in Jonesville, Michigan, and was built in 1960. An experienced staff is already in place for the operating business.
Separate kennel spaces accommodate large and small dogs. Each area connects directly to its own secure fenced outdoor play yard measuring approximately 1,500 square feet. The property is located at 136 Concord Road in Jonesville, Michigan, and was built in 1960. An experienced staff is already in place for the operating business.
Key Highlights
- Established dog kennel and grooming facility at 136 Concord Road, Jonesville, MI 49250
- Approximately 1,500‑square‑foot fenced outdoor play area for each kennel section
- Separate accommodations for large dogs and small dogs
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
$23,184
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
3.57%
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%
$463,680
$463.7K
Cap Rate 7%
$331,200
$331.2K
Cap Rate 9%
$257,600
$257.6K
Market Conditions
NOI Build-Up for 4,000 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
$36.0K $9.00/SF
− Vacancy
−$2.9K −$0.72/SF
EGI
$33.1K $8.28/SF
− OpEx
−$9.9K −$2.48/SF
NOI
$23.2K $5.80/SF
Area
Hillsdale County, MI
Vacancy
8.00%
Lease Rate
$9.00 /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%
$463,680
Cap Rate 7%
$331,200
Cap Rate 9%
$257,600
Alternative Uses
Best Use
Retail
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$635.6K
$556.1K – $741.5K
NOI $44,490 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 49%
Citgo
Shops & Services
5,905 visits/mo
0.3 miles
BIGGBY COFFEE
Dining
5,620 visits/mo
0.2 miles
Demographics for 49250, MI
5,994
Population
2,560
Households
2.3
Avg Household Size
43
Median Age
19%
College-Educated
91%
High-School Grad
78.7 sq mi
ZIP Area
76
Density / Sq Mi
$61,918
Median Household Income
$40,625
Median Earnings
$774
Median Rent
$159,300
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 - Furnished commercial facility with reception, retail, grooming, kennel, and administrative areas.
Where is this retail space located?
The property is located at 136 Concord Road Jonesville, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Established dog kennel and grooming facility at 136 Concord Road, Jonesville, MI 49250; Approximately 1,500‑square‑foot fenced outdoor play area for each kennel section; Separate accommodations for large dogs and small dogs
