Retail Storefront With Central
For Sale
$264,900
206 N Bridge Street, Bellaire, MI 49615
Central air and on-street parking are included with the retail space.
Property Size2,100 SF
Price / SF$126.14
Days on Market15
Property Features for 206 N Bridge Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
2,100 SF
Year Built
1940
Listing Agency:
Coldwell Banker Schmidt-Bellai
(231) 676-0440
Listed By:
David L Ciganick · License #6501302123
(231) 676-0440
Source:
Carolbollo
Added: Aug 10
Changed: Aug 24
Last Checked: Aug 23 at 3:44AM
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 Coldwell Banker Schmidt-Bellai
Investment Insights
Based on property information with market context.
This 2,100-square-foot retail storefront was built in 1940 and includes central air. The property offers a compact commercial configuration on an asphalt interior lot measuring 25 x 100, with parking available along the street.
The storefront is located at 206 Bridge Street in Downtown Bellaire, Michigan. Its established downtown setting and retail classification support continued commercial use. The property was formerly occupied by Paddles & Pedals.
The storefront is located at 206 Bridge Street in Downtown Bellaire, Michigan. Its established downtown setting and retail classification support continued commercial use. The property was formerly occupied by Paddles & Pedals.
Key Highlights
- 2,100‑square‑foot retail storefront
- Built in 1940
- Central air included
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
$21,800
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
8.23%
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%
$436,000
$436.0K
Cap Rate 7%
$311,429
$311.4K
Cap Rate 9%
$242,222
$242.2K
Market Conditions
NOI Build-Up for 2,100 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
$32.5K $15.48/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$31.1K $14.83/SF
− OpEx
−$9.3K −$4.45/SF
NOI
$21.8K $10.38/SF
Area
Antrim County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$436,000
Cap Rate 7%
$311,429
Cap Rate 9%
$242,222
Alternative Uses
Best Use
Retail
$311.4K
$272.5K – $363.3K
NOI $21,800 @ 7.0% cap · market cap 8.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.7K
$327.0K – $436.0K
NOI $26,160 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
8k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Home Improvements & Furnishings 24%
Marathon
Shops & Services
3,999 visits/mo
0.5 miles
Auto Value
Shops & Services
1,932 visits/mo
0.1 miles
Bellaire Hardware
Home Improvements & Furnishings
1,884 visits/mo
0.2 miles
Demographics for 49615, MI
4,161
Population
3,575
Households
1.2
Avg Household Size
57
Median Age
44%
College-Educated
97%
High-School Grad
68.4 sq mi
ZIP Area
61
Density / Sq Mi
$78,750
Median Household Income
$38,635
Median Earnings
$775
Median Rent
$257,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Central air and on-street parking are included with the retail space.
Where is this storefront property located?
The property is located at 206 N Bridge Street Bellaire, MI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: 2,100‑square‑foot retail storefront; Built in 1940; Central air included
