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    Downtown Leslie Commercial Opportunity Title is generated by Realmo AI

    208 N Main Street, Leslie, MI 49251

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    Claim this Listing
    For Sale
    $349,900

    COMMERCIAL - Leslie, MI

    Property size:
    8,422 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $41/SF
    Added:
    Aug 7, 2025
    Days on Market:
    280
    Last Refresh:
    May 13 at 7:06 am

    Property Features for 208 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    33-17-14-21-451-003
    Size
    8,422 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LSV-5-1 E 8 RDS OF LOT 14 & N 16 FT OF E 8 RDS OF LOT 15 & ALSO E 8 RDS OF LOT 13, BLK 1 CITY OF LESLIE
    Tax Annual Amount
    6665

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Carpet, Wood
    Building materials
    Block
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Ian James Thompson

    Listing agent Ian James Thompson License #6501460265

    Listing office Keller Williams Realty Lansing 3490 Belle Chase Way, Lansing, MI

    Listing date Aug 7, 2025

    MLS# 290272

    Copyright © 2026 Greater Lansing Association of Realtors. 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 commercial location in the heart of downtown Leslie.
    • Home to two established businesses (bowling alley and ice cream shop).
    • Excellent street visibility.
    • Ample parking with a parking lot.
    • Flexible commercial zoning suitable for investors or owner‑operators.
    • Freestanding building.

    Overview

    This commercial property is located in downtown Leslie and features a freestanding building currently housing two established businesses: Leslie Lanes bowling alley and The Main Street Parlor ice cream shop. Situated on a 0.45-acre lot, the property offers street visibility and parking. The building has a total area of 8,422 square feet. The property's commercial zoning provides flexibility for investors or owner-operators.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rouse Agency LLC Insurance Agency Leslie Lanes Bowling Alley

    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
    -84.432309
    Latitude
    42.453394

    Nearby Similar for Sale

    • $250,000
      4,800 SF

      Vacant Industrial Building For Sale

      Vacant 4,800 SF industrial building in Leslie, Michigan.
      835 Rice Street, Leslie, MI 49251
      View Details
    • $220,000
      800 SF

      Turn-Key Restaurant in Downtown Leslie

      Rare opportunity to own a restaurant in a high-visibility location.
      108 E Bellevue St, Leslie, MI 49251
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Freestanding building with two established businesses in downtown Leslie.
    Where is this individual retail property located?
    The property is located at 208 N Main Street Leslie, MI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Prime commercial location in the heart of downtown Leslie.; Home to two established businesses (bowling alley and ice cream shop).; Excellent street visibility.
    (616) 836-4371
    We can help!
    Listing Contact
    Ian James Thompson
    Real Estate License ID: 6501460265
    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.

    More about this property
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