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    Downtown Leslie Office/Retail Space Title is generated by Realmo AI

    163 S Main Street, Leslie, MI 49251

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    For Lease
    $12 SF/Yr $1,400/Mo (calc)

    COMMERCIAL - Leslie, MI

    Type:Retail
    Property size:
    1,400 SF
    Lot size:
    0.05 Acres
    Added:
    Nov 13, 2025
    Days on Market:
    187
    Last Refresh:
    May 19 at 4:06 pm

    Property Features for 163 S Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    Driveway
    Fireplace
    1
    Standard status
    Active
    APN
    33-17-14-28-202-019
    Size
    1,400 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LSV 154 THE N 29 FT OF THE W 132 FT OF LOT 12 BLOCK 8 ALSO THE S 14 FT OF THE W 132 FT OF LOT 13 BLOCK 8 CITY OF LESLIE SEC 28 T1NR1W

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Building materials
    Block, Vinyl Siding, Wood Siding, Stone
    Roof type
    Composition, Rubber

    We can help!

    Listing Contact
    MICHAEL DIXON

    Listing agent MICHAEL DIXON License #6506048898

    Listing office Sproat Realty Professionals 163 S Main St PO Box 524, LESLIE, MI

    Listing date Nov 13, 2025

    MLS# 25058351

    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.

    HighLights

    • Prime location in Downtown Leslie, MI, off US127, offering high visibility and proximity to essential services and amenities.
    • Versatile 1400+ sq ft space adaptable for various business types, currently configured with a reception area, kitchen, bath with shower, conference room/private office, and open area.
    • Lease includes utilities, snow removal, and window cleaning, simplifying operational costs.
    • Recently updated paint and flooring enhance the space's appeal and reduce immediate renovation needs.
    • Employee parking is conveniently located at the rear of the building.
    • Additional private offices available for rent in the rear, providing expansion options.

    Overview

    This commercial space is located in downtown Leslie, Michigan, off exit #56 of US127, between Lansing and Jackson. Situated across from the US Post Office and Independent Bank, the property is within walking distance of pubs, restaurants, and shops. The unit offers over 1400 square feet of space with window frontage on Main Street, currently configured with a reception area that can be converted into retail displays. The space includes a kitchen, a bathroom with a shower, a conference room or private office, a large open area, and multiple storage closets. Employee parking is available at the rear of the building. The lease includes utilities (gas, electric, water, sewer), snow removal, and window cleaning. Internet is paid by the lessee. The space features updated paint and flooring. Two additional private offices are available for rent in the rear of the space. The property offers possibilities to configure the space for various business types.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sproat Realty Professionals ... Real Estate Agency Mary Shean Real Estate Agency Mary Serra - REALTOR Real Estate Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Leslie
    County
    Ingham
    State
    Michigan
    Longitude
    -84.43156
    Latitude
    42.449861

    Nearby Similar for Lease

    • $12 SF/Yr
      1,400 SF

      Retail Space in Leslie, MI

      Retail space available for lease in Leslie, Michigan.
      163 S Main Street, Leslie, MI 49251
      View Details
    • Contact for pricing
      27,365 SF

      Retail Space on Main Thoroughfare

      Retail space with excellent visibility and multiple access points.
      810 W Bellevue St, Leslie, MI 49251
      View Details

    FAQs

    What type of property is this?
    Office units - Versatile 1400+ sq ft space in downtown Leslie, Michigan.
    Where is this office units located?
    The property is located at 163 S Main Street Leslie, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime location in Downtown Leslie, MI, off US127, offering **high visibility and proximity to essential services** and amenities.; Versatile 1400+ sq ft space adaptable for various business types, currently configured with a reception area, kitchen, bath with shower, conference room/private office, and open area.; Lease includes utilities, snow removal, and window cleaning, simplifying operational costs.
    (517) 262-1431
    We can help!
    Listing Contact
    MICHAEL DIXON
    Real Estate License ID: 6506048898
    Learn More
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    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.

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