Downtown Corner Retail
458 Main Street Belleville, MI 48111
458 Main Street, Belleville, MI, 48111
$900,000
For Sale
$900,000
Corner-lot retail building with one large space and three smaller units within the city’s DDA boundary.
Property Size7,666 SF
Price / SF$117.40
Days on Market29
Property Features for 458 Main Street
General Information
- Standard status
- Active
- Size
- 7,666 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing agency
Moving The Mitten RE Group Inc
(734) 777-9094
Listed by
Therese Antonelli · License #6501366596
(734) 777-9094
Source
Sabudarealty
Added: Jun 24 Updated: Jul 22 at 8:37AM Checked: Jul 22 at 8:37AM
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 Moving The Mitten RE Group Inc
Investment Insights
Based on property information with market context.
This downtown corner retail building offers a largely gutted interior and a flexible “blank slate” for a new tenant or concept. The property includes one large commercial space estimated at 6,066 square feet and three smaller commercial units estimated at 600, 500, and 500 square feet. The building totals approximately 7,666 square feet and is currently configured as four retail units, with the smaller units rented by month-to-month tenants for total reported monthly revenue of $2,217.50.
The building is located within the Downtown Development Authority (DDA) boundary and sits on a corner lot. The City of Belleville DDA has an RFP for renovation and reuse at 458 Main Street, with proposals evaluated based on alignment with district goals focused on maintaining a vibrant pedestrian presence and social spaces while supporting complementary business opportunities.
The parcel is zoned for the City of Belleville Central Business District, and the property is described as having easy access to I-94, minutes from DTW and Willow Run Airport. It is also positioned near municipal offices and established retail and dining, with proximity to the Belleville Lake waterfront and the Iron Belle Trail noted in the materials.
The building is located within the Downtown Development Authority (DDA) boundary and sits on a corner lot. The City of Belleville DDA has an RFP for renovation and reuse at 458 Main Street, with proposals evaluated based on alignment with district goals focused on maintaining a vibrant pedestrian presence and social spaces while supporting complementary business opportunities.
The parcel is zoned for the City of Belleville Central Business District, and the property is described as having easy access to I-94, minutes from DTW and Willow Run Airport. It is also positioned near municipal offices and established retail and dining, with proximity to the Belleville Lake waterfront and the Iron Belle Trail noted in the materials.
Key Highlights
- 7,666 sq ft corner‑lot retail building on a lot within the City of Belleville Downtown Development Authority (DDA) boundary
- Building includes one large commercial space (~6,066 sq ft) plus three smaller units (~600, ~500, and ~500 sq ft)
- Currently rented by month‑to‑month tenants, generating $2,217.50 in monthly revenue
Local 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 | $110.4k | $14.40 |
| − Vacancy | −$6.6k | −$0.86 |
| EGI | $103.8k | $13.54 |
| − OpEx | −$31.1k | −$4.06 |
| NOI | $72.6k | $9.48 |
7,666 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.04M
$908.0K – $1.21M
NOI $72,637 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,351 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Corner-lot retail building with one large space and three smaller units within the city’s DDA boundary.
Where is this storefront property located?
The property is located at 458 Main Street Belleville, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 7,666 sq ft corner‑lot retail building on a lot within the City of Belleville Downtown Development Authority (DDA) boundary; Building includes one large commercial space (~6,066 sq ft) plus three smaller units (~600, ~500, and ~500 sq ft); Currently rented by month‑to‑month tenants, generating $2,217.50 in monthly revenue
