Mixed-Use Commercial
409 N Evans Street Tecumseh, MI 49286
For Sale
$279,900
COMMERCIAL - Tecumseh, MI
Property Size2,344 SF
Lot Size0.36 Acres
Price / SF$119.41
Days on Market168
Property Features for 409 N Evans Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- XTO-300-8090-00
- Size
- 2,344 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 279
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1950
Listing Agency:
Goedert Real Estate - Adr
(517) 265-9644
Listed By:
Dave Cubberly · License #6501383951
(517) 902-5850
Added: Feb 9
Changed: Jun 10
Last Checked: Jul 27 at 5:06AM
MLS# 50199047
Copyright © 2026 Lenawee County 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.
Investment Insights
Based on property information with market context.
This mixed-use commercial building features a lower level operating as a beauty salon with five stations, a separate drying room, a breakroom, two half baths, and a reception area with seating. Salon equipment is included with the sale, and the property also has an apartment on the second floor.
The second floor is an approximately 1,172-square-foot, two-bedroom unit with a large eat-in kitchen and natural light. The living room includes a fireplace and is sized for more than one use, such as flexible living arrangements or a home office. The apartment overlooks Evans Creek, and the property sits about three blocks from downtown Tecumseh on a main throughfare.
The configuration supports an owner-operator model by combining a ready-to-run salon space with in-building residential use. Private paved parking is provided, with room on-site to expand parking as needed for tenants and guests.
The second floor is an approximately 1,172-square-foot, two-bedroom unit with a large eat-in kitchen and natural light. The living room includes a fireplace and is sized for more than one use, such as flexible living arrangements or a home office. The apartment overlooks Evans Creek, and the property sits about three blocks from downtown Tecumseh on a main throughfare.
The configuration supports an owner-operator model by combining a ready-to-run salon space with in-building residential use. Private paved parking is provided, with room on-site to expand parking as needed for tenants and guests.
Key Highlights
- Commercial building 3 blocks from downtown Tecumseh on a main throughfare for traffic exposure
- Lower level beauty salon with 5 stations, separate drying room, breakroom, reception area, and 2 half baths (equipment included)
- Second‑floor 1,172 SF 2‑bedroom apartment with large eat‑in kitchen and living room with fireplace
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 | $36.3k | $15.48 |
| − Vacancy | −$1.5k | −$0.65 |
| EGI | $34.8k | $14.83 |
| − OpEx | −$10.4k | −$4.45 |
| NOI | $24.3k | $10.38 |
2,344 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$368.9K
$322.8K – $430.4K
NOI $25,822 @ 7.0% cap · market cap 9.23%
Second Best
Retail
$347.6K
$304.2K – $405.6K
NOI $24,333 @ 7.0% cap · market cap 8.69%
Theoretical Best
Multifamily LT 5
$29.08M
$25.45M – $33.93M
NOI $2,035,719 @ 7.0% cap · market cap 727.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bonique's Hair Fashions
Hair Salon
FAQs
What type of property is this?
Live-work space - Multi-level building includes an existing beauty salon and an on-site apartment above for owner-operator flexibility.
Where is this live-work space located?
The property is located at 409 N Evans Street Tecumseh, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Commercial building 3 blocks from downtown Tecumseh on a main throughfare for traffic exposure; Lower level beauty salon with 5 stations, separate drying room, breakroom, reception area, and 2 half baths (equipment included); Second‑floor 1,172 SF 2‑bedroom apartment with large eat‑in kitchen and living room with fireplace
