Mixed-Use Building with
For Sale
$150,000
4253 Main St, Brown City, MI 48416
Commercially zoned property combines a salon space with a two-bedroom apartment and in-unit laundry.
Property Size1,792 SF
Price / SF$83.71
Days on Market50
Property Features for 4253 Main St
General Information
Standard status
Active
Size
1,792 SF
Total Parking Spaces
5
Property subtype
Multifamily, Office
Zoning
Commercial
Occupancy
100%
Building Details
Building Size
1,792 SF
Year Built
1945
Stories
1
Tenancy
Multi
Listing Agency:
Elite Realty
Listed By:
Rebecca Vincent
(231) 218-4254
Source:
Cpix.resimplifi
Added: Sep 12
Changed: Oct 31
Last Checked: Oct 30 at 10:47AM
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 Elite Realty
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Investment Insights
Based on property information with market context.
Built in 1945, this 1,792-square-foot mixed-use building contains two occupied units. One unit is used as a beauty salon, with the salon owner's fixtures and equipment excluded from the property. The second unit is a two-bedroom, one-bathroom apartment with in-unit laundry. Both units are occupied by long-term tenants, and tenant rights apply to showings and possession.
The property is zoned Commercial and has received several exterior updates. A new Duro-Last roof was recently installed, while the overhang has a metal roof installed within the last few years. New soffits further update the building envelope. The layout provides distinct commercial and residential components within one property.
The property is zoned Commercial and has received several exterior updates. A new Duro-Last roof was recently installed, while the overhang has a metal roof installed within the last few years. New soffits further update the building envelope. The layout provides distinct commercial and residential components within one property.
Key Highlights
- 1,792‑square‑foot mixed‑use building built in 1945
- Two occupied units with long‑term tenants
- Beauty salon unit and two‑bedroom, one‑bathroom apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,096
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,920
$241.9K
Cap Rate 7%
$172,800
$172.8K
Cap Rate 9%
$134,400
$134.4K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$21.5K $12.00/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$19.4K $10.80/SF
− OpEx
−$7.3K −$4.05/SF
NOI
$12.1K $6.75/SF
Area
Sanilac County, MI
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,920
Cap Rate 7%
$172,800
Cap Rate 9%
$134,400
Alternative Uses
Best Use
Retail
$265.8K
$232.5K – $310.1K
NOI $18,603 @ 7.0% cap · market cap 12.40%
Second Best
Mixed Use
$172.8K
$151.2K – $201.6K
NOI $12,096 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$380.6K
$333.0K – $444.0K
NOI $26,641 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
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Business Placement
Demographics for 48416, MI
4,906
Population
2,068
Households
2.4
Avg Household Size
42
Median Age
13%
College-Educated
88%
High-School Grad
113.8 sq mi
ZIP Area
43
Density / Sq Mi
$68,650
Median Household Income
$38,405
Median Earnings
$854
Median Rent
$212,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned property combines a salon space with a two-bedroom apartment and in-unit laundry.
Where is this mixed-use property located?
The property is located at 4253 Main St Brown City, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,792‑square‑foot mixed‑use building built in 1945; Two occupied units with long‑term tenants; Beauty salon unit and two‑bedroom, one‑bathroom apartment
