Remodeled Corner Retail
203 N Main Street Wayland, MI 49348
For Sale
$379,000
Freestanding remodeled retail building on a corner lot with furnace/AC, roof, and water heater updates from a prior remodel.
Property Size1,813 SF
Price / SF$209.05
Days on Market92
Property Features for 203 N Main Street
General Information
- Standard status
- Active
- Size
- 1,813 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1955
Listing Agency:
(269) 349-1000
Listed By:
Callander Commercial
Source:
Xome
Added: Apr 25
Changed: Jul 23
Last Checked: Jul 25 at 2:55AM
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 Callander Commercial
Investment Insights
Based on property information with market context.
This freestanding retail building sits on a corner lot and has been completely remodeled. The current interior layout supports a beauty salon configuration with accommodations for 8 stations and 2 washbowls, and the space could be repurposed for other retail or office uses. Updates included furnace/AC, roof, and water heater as part of the remodel completed about 10 years ago.
The property is located on N Main Street in Wayland, MI and is described as having high traffic counts and strong visibility for walk-in or drive-by activity.
For prospective tenants and buyers, the building offers a turn-key, remodeled shell and a functional layout that can support multiple stations and service elements, depending on the intended use.
The property is located on N Main Street in Wayland, MI and is described as having high traffic counts and strong visibility for walk-in or drive-by activity.
For prospective tenants and buyers, the building offers a turn-key, remodeled shell and a functional layout that can support multiple stations and service elements, depending on the intended use.
Key Highlights
- Freestanding remodeled retail building on a corner lot in Wayland
- 10 parking spaces plus lot dimensions of 66' x 130'
- Remodeled about 10 years ago with furnace/AC, roof, and water heater updates included
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.1k | $15.48 |
| − Vacancy | −$1.2k | −$0.65 |
| EGI | $26.9k | $14.83 |
| − OpEx | −$8.1k | −$4.45 |
| NOI | $18.8k | $10.38 |
1,813 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$268.9K
$235.3K – $313.7K
NOI $18,821 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$17.03M
$14.90M – $19.86M
NOI $1,191,816 @ 7.0% cap · market cap 314.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Hair Cut Hut
Hair Salon
FAQs
What type of property is this?
Storefront property - Freestanding remodeled retail building on a corner lot with furnace/AC, roof, and water heater updates from a prior remodel.
Where is this storefront property located?
The property is located at 203 N Main Street Wayland, MI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Freestanding remodeled retail building on a corner lot in Wayland; 10 parking spaces plus lot dimensions of 66' x 130'; Remodeled about 10 years ago with furnace/AC, roof, and water heater updates included
