Building Details

Year built 1877

Roof type Shingle

Listing Agency: Realty Executives Home Towne Romeo b***@mirealsource.com Show Phone

Listed By: AL KELLER Show Phone

Added: Jan 30 Changed: Oct 13 Last Checked: Oct 23 at 12:06PM

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MLS# 50198526

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Investment Insights

Based on property information with market context.

This 5,539-square-foot bed-and-breakfast property dates to 1877 and is arranged across three levels served by an elevator. The main floor contains a kitchen, dining room, two parlors, an office or sitting room, and one bedroom with a full bathroom. Four additional bedrooms are located upstairs, each with its own full bathroom. A newer three-car garage includes an unfinished apartment above, with plumbing in place for a kitchen and bathroom.

The property occupies 0.52 acres at 185 S Main Street in Romeo, Michigan. Improvements include forced-air heating, a shingle roof, and generous off-street parking. A vacant lot on the north side is included, and the site offers access to M-53. Water sources are listed as public and well.

Key Highlights

• 5,539‑square‑foot bed‑and‑breakfast property built in 1877
• Five bedrooms with five full bathrooms across the main and upper floors
• Elevator serves all three levels

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,311

Cap Rate

3.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$426,220 $426.2K

Cap Rate 7%

$304,443 $304.4K

Cap Rate 9%

$236,789 $236.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,539 SF

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 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 (±1% cap)

NOI $21,311 @ 7.0% cap · market cap 3.41%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.04M

$907.4K – $1.21M (±1% cap)

NOI $72,589 @ 7.0% cap · market cap 11.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bed & breakfasts

Suggested Use

Top Pick Law Firm Daycare Center Barber Shop Garden Center (Bike/Boat/Book/etc) Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

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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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 - The layout includes multiple bedrooms, full baths, common rooms, and an unfinished apartment above the garage.

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 $625,000.

What are key features of this property?

This property features: 5,539‑square‑foot bed‑and‑breakfast property built in 1877; Five bedrooms with five full bathrooms across the main and upper floors; Elevator serves all three levels