Mixed-Use Property with
For Sale
$214,900
1401 Saint Clair Boulevard, Algonac, MI 48001
Two distinct spaces combine short-term lodging with salon rental income near downtown and the waterfront.
Property Size1,404 SF
Days on Market34
Property Features for 1401 Saint Clair Boulevard
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Commercial
Building Details
Building Size
1,404 SF
Year Built
9999
Listing Agency:
RE/MAX Advisors
(810) 300-0262
Listed By:
Laura Janski · License #6501328247
Source:
Erareardonrealty
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Advisors
Investment Insights
Based on property information with market context.
Located at 1401 Saint Clair Blvd, this 1,404-square-foot mixed-use property is divided into two separate sections. The larger area is a fully renovated two-bedroom cottage operated as a VRBO and includes an open living area, full kitchen, warm wood ceiling, Smart TV, and Wi-Fi. The smaller section is configured as a salon space with monthly rental income, creating two distinct income-producing components within one building.
The property is two blocks from the public boat launch and within walking distance of downtown Algonac. The surrounding area includes the St. Clair River, Lake St. Clair, marinas, fishing, parks, dining, and waterfront activities. On-site trailer parking is also included.
The property is two blocks from the public boat launch and within walking distance of downtown Algonac. The surrounding area includes the St. Clair River, Lake St. Clair, marinas, fishing, parks, dining, and waterfront activities. On-site trailer parking is also included.
Key Highlights
- 1,404‑square‑foot mixed‑use property divided into two separate sections
- Fully renovated two‑bedroom cottage with open living area and full kitchen
- Cottage includes Smart TV, Wi‑Fi, and warm wood ceiling
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
$9,688
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
4.51%
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%
$193,760
$193.8K
Cap Rate 7%
$138,400
$138.4K
Cap Rate 9%
$107,644
$107.6K
Market Conditions
NOI Build-Up for 1,404 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
$16.8K $12.00/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$15.5K $11.04/SF
− OpEx
−$5.8K −$4.14/SF
NOI
$9.7K $6.90/SF
Area
St. Clair County, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$193,760
Cap Rate 7%
$138,400
Cap Rate 9%
$107,644
Alternative Uses
Best Use
Apartment 5plus
$971.9K
$850.4K – $1.13M
NOI $68,030 @ 7.0% cap · market cap 31.66%
Second Best
Mixed Use
$138.4K
$121.1K – $161.5K
NOI $9,688 @ 7.0% cap · market cap 4.51%
Theoretical Best
Multifamily LT 5
$1.06M
$923.6K – $1.23M
NOI $73,884 @ 7.0% cap · market cap 34.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
Demographics for 48001, MI
11,721
Population
5,787
Households
2
Avg Household Size
50
Median Age
18%
College-Educated
94%
High-School Grad
19.0 sq mi
ZIP Area
617
Density / Sq Mi
$64,538
Median Household Income
$35,987
Median Earnings
$921
Median Rent
$250,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two distinct spaces combine short-term lodging with salon rental income near downtown and the waterfront.
Where is this mixed-use property located?
The property is located at 1401 Saint Clair Boulevard Algonac, MI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 1,404‑square‑foot mixed‑use property divided into two separate sections; Fully renovated two‑bedroom cottage with open living area and full kitchen; Cottage includes Smart TV, Wi‑Fi, and warm wood ceiling
