Building Details

Year built 1895

Roof type Shingle

Additional Structures Second Garage

Buildings 4

Listing Agency: Premier Properties Real Estate LLC · Coldwell Banker Real Estate l***@cbmichigan.com Show Phone

Listed By: Dennis Quinn Show Phone

Added: Mar 13 Changed: Oct 27 Last Checked: Oct 29 at 2:06AM

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MLS# 50201481

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,145-square-foot, 1.5-story storefront sits on a 0.26-acre parcel in downtown Lexington. A wraparound porch, garden area, and fenced yard accompany the building. Separate outbuildings include an 8-by-12-foot garden shed, an 8-by-10-foot utility barn, and a two-story barn measuring 30 by 40 feet.

Key Highlights

• 2,145‑square‑foot, 1.5‑story storefront
• 0.26‑acre parcel at 5454 Main Street in Lexington
• Wraparound porch, garden area, and fenced yard

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

Is this asking price fair?

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 (±1% cap)

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 (±1% cap)

NOI $31,889 @ 7.0% cap · market cap 7.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

MICHIGAN STATE HISTORICAL ... Tour Operator Gatherings Antiques Home Decor Store

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Pharmacy Grocery & Convenience Store Plumbing Service Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The downtown site includes a garden area, fenced yard, and several detached storage buildings.

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, 1.5‑story storefront; 0.26‑acre parcel at 5454 Main Street in Lexington; Wraparound porch, garden area, and fenced yard