Two-Unit Duplex with New
For Sale
$150,000
4253 Main Street, Brown City, MI 48416
Commercially zoned duplex with a salon and a two-bedroom apartment, both occupied by long-term tenants.
Property Size1,792 SF
Price / SF$83.71
Days on Market48
Property Features for 4253 Main Street
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Residential Income
Zoning
Commercial
Occupancy
100%
Lease Term
Cash, Conventional
Taxes and HOA fees
Annual Taxes
$1,900
Building Details
Building Size
1,792 SF
Year Built
1945
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Elite Realty
(231) 218-4254
Listed By:
Rebecca Vincent
(231) 218-4254
Source:
Sabudarealty
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 29 at 6:28PM
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
Investment Insights
Based on property information with market context.
This 1,792-square-foot duplex, built in 1945, contains two occupied units: a beauty salon and a two-bedroom, one-bathroom apartment with in-unit laundry. Salon fixtures and equipment belong to the salon operator. The building has received a new Duro-Last roof, while the overhang has a metal roof installed within the last few years and updated soffits. Commercial zoning supports the property’s existing mixed-use configuration.
Located at 4253 Main Street in Brown City, Michigan, the property is subject to tenant rights for showings and possession. Both occupants are established long-term tenants, providing an existing occupancy profile for the two-unit building.
Located at 4253 Main Street in Brown City, Michigan, the property is subject to tenant rights for showings and possession. Both occupants are established long-term tenants, providing an existing occupancy profile for the two-unit building.
Key Highlights
- 1,792 SF duplex with two occupied units
- Commercial zoning with an existing beauty salon and apartment configuration
- Two‑bedroom, one‑bathroom apartment with in‑unit laundry
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
$9,875
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
6.58%
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%
$197,500
$197.5K
Cap Rate 7%
$141,071
$141.1K
Cap Rate 9%
$109,722
$109.7K
Market Conditions
NOI Build-Up for 1,792 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
$15.3K $8.52/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$14.1K $7.87/SF
− OpEx
−$4.2K −$2.36/SF
NOI
$9.9K $5.51/SF
Area
Sanilac County, MI
Vacancy
7.60%
Lease Rate
$8.52 /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%
$197,500
Cap Rate 7%
$141,071
Cap Rate 9%
$109,722
Alternative Uses
Best Use
Retail
$265.8K
$232.5K – $310.1K
NOI $18,603 @ 7.0% cap · market cap 12.40%
Second Best
Multifamily LT 5
$141.1K
$123.4K – $164.6K
NOI $9,875 @ 7.0% cap · market cap 6.58%
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.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Commercially zoned duplex with a salon and a two-bedroom apartment, both occupied by long-term tenants.
Where is this duplex located?
The property is located at 4253 Main Street 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 SF duplex with two occupied units; Commercial zoning with an existing beauty salon and apartment configuration; Two‑bedroom, one‑bathroom apartment with in‑unit laundry
