Victorian Bed And Breakfast
For Sale
$639,000
185 S Main Street, Romeo, MI 48065
Village-zoned Victorian property with an elevator, updated electrical systems, and flexible hospitality or office use potential.
Property Size5,539 SF
Price / SF$115.36
Days on Market225
Property Features for 185 S Main Street
General Information
Standard status
Active
Size
5,539 SF
Elevators
Yes
Property subtype
Industrial
Amenities
3
Shingle
105219
Building Details
Year Built
1877
Listing Agency:
Realty Executives Home Towne Romeo
(586) 786-4617
Listed By:
AL KELLER · License #6502347786
(586) 752-4202
Source:
Xome
Added: Jan 28
Changed: Sep 9
Last Checked: Sep 9 at 4:21PM
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 Realty Executives Home Towne Romeo
Investment Insights
Based on property information with market context.
Built in 1877, this 5,539-square-foot Victorian property offers a distinctive setting for a bed and breakfast, office, or residential use under village zoning. The building includes five full bathrooms, two powder rooms, an elevator, and a three-car garage, with additional off-street parking behind the property.
Recent improvements include windows, bathrooms, electrical systems, and the kitchen, while select original hardwood flooring has been refinished. The property is located on S Main Street in Romeo, within walking distance of shopping, restaurants, the Peach Festival, and other Romeo community events. Possession is available at closing.
Recent improvements include windows, bathrooms, electrical systems, and the kitchen, while select original hardwood flooring has been refinished. The property is located on S Main Street in Romeo, within walking distance of shopping, restaurants, the Peach Festival, and other Romeo community events. Possession is available at closing.
Key Highlights
- 5,539‑square‑foot Victorian property built in 1877
- Village zoning supports bed and breakfast, office, and residential uses
- Five full bathrooms plus two powder rooms
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
$21,311
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
3.34%
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%
$426,220
$426.2K
Cap Rate 7%
$304,443
$304.4K
Cap Rate 9%
$236,789
$236.8K
Market Conditions
NOI Build-Up for 5,539 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
$99.7K $18.00/SF
− Vacancy
−$54.8K −$9.90/SF
EGI
$44.9K $8.10/SF
− OpEx
−$23.6K −$4.25/SF
NOI
$21.3K $3.85/SF
Area
Macomb County, MI
Vacancy
55.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$426,220
Cap Rate 7%
$304,443
Cap Rate 9%
$236,789
Alternative Uses
Best Use
Hotel Hospitality
$304.4K
$266.4K – $355.2K
NOI $21,311 @ 7.0% cap · market cap 3.34%
Second Best
Office B
$272.4K
$238.4K – $317.8K
NOI $19,068 @ 7.0% cap · market cap 2.98%
Theoretical Best
Specialty Retail
$1.04M
$907.4K – $1.21M
NOI $72,589 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48065, MI
11,228
Population
4,672
Households
2.4
Avg Household Size
44
Median Age
34%
College-Educated
91%
High-School Grad
37.4 sq mi
ZIP Area
300
Density / Sq Mi
$104,348
Median Household Income
$47,892
Median Earnings
$1,047
Median Rent
$341,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Similar Off Market Nearby
- Hudson Inn, Bed and Breakfast — 198 W St Clair St, Romeo, MI 48065
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Village-zoned Victorian property with an elevator, updated electrical systems, and flexible hospitality or office use potential.
Where is this bed & breakfast located?
The property is located at 185 S Main Street Romeo, MI.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 5,539‑square‑foot Victorian property built in 1877; Village zoning supports bed and breakfast, office, and residential uses; Five full bathrooms plus two powder rooms
