Storefront Property with Wraparound
New
For Sale
$447,900
5454 Main Street, Lexington, MI 48450
A historic commercial building in downtown Lexington includes a porch, perennial gardens, and substantial outbuilding storage.
Property Size2,145 SF
Price / SF$208.81
Days on Market4
Property Features for 5454 Main Street
General Information
Standard status
Active
Size
2,145 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
2,145 SF
Year Built
1895
Buildings
4
Listing Agency:
Premier Properties Real Estate LLC
Listed By:
Dennis Quinn · License #6501255171
(810) 359-2010
Source:
Homeflexrealty
Added: Oct 26
Last Checked: Oct 26 at 3:51PM
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 Premier Properties Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,145-square-foot commercial storefront dates to 1895 and has a one-and-a-half-story farmhouse form. A wraparound porch and perennial gardens add exterior character, while separate outbuildings provide additional storage: an 8-by-12-foot garden shed, an 8-by-10-foot utility barn, and a two-story 30-by-40-foot barn.
The property is located downtown in Lexington, where the surrounding area is described as walkable. The existing building and grounds offer a distinctive setting for commercial use.
The property is located downtown in Lexington, where the surrounding area is described as walkable. The existing building and grounds offer a distinctive setting for commercial use.
Key Highlights
- 2,145‑square‑foot commercial storefront built in 1895
- Wraparound porch and perennial gardens
- Outbuildings include an 8x12 garden shed and 8x10 utility barn
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,267
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,340
$445.3K
Cap Rate 7%
$318,100
$318.1K
Cap Rate 9%
$247,411
$247.4K
Market Conditions
NOI Build-Up for 2,145 SF
Gross rent
$33.2K $15.48/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$31.8K $14.83/SF
− OpEx
−$9.5K −$4.45/SF
NOI
$22.3K $10.38/SF
Area
Sanilac County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,340
Cap Rate 7%
$318,100
Cap Rate 9%
$247,411
Alternative Uses
Best Use
Retail
$318.1K
$278.3K – $371.1K
NOI $22,267 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$455.6K
$398.6K – $531.5K
NOI $31,889 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
BP
Shops & Services
5,508 visits/mo
0.0 miles
Family Dollar
Shops & Services
3,907 visits/mo
0.2 miles
A&W Restaurant
Dining
3,410 visits/mo
0.3 miles
Jet's Pizza
Dining
1,614 visits/mo
0.1 miles
Demographics for 48450, MI
4,199
Population
4,113
Households
1
Avg Household Size
55
Median Age
23%
College-Educated
95%
High-School Grad
21.9 sq mi
ZIP Area
192
Density / Sq Mi
$58,297
Median Household Income
$33,892
Median Earnings
$855
Median Rent
$200,900
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - A historic commercial building in downtown Lexington includes a porch, perennial gardens, and substantial outbuilding storage.
Where is this storefront property located?
The property is located at 5454 Main Street Lexington, MI.
What is the asking price?
The asking price for this property is $447,900.
What are key features of this property?
This property features: 2,145‑square‑foot commercial storefront built in 1895; Wraparound porch and perennial gardens; Outbuildings include an 8x12 garden shed and 8x10 utility barn
