Downtown Storefront with Wraparound
For Sale
$447,900
5454 Main Street, Lexington, MI 48450
COM/IND/BUS OPP, Lexington, MI
Property Size2,145 SF
Lot Size0.26 Acres
Price / SF$208.81
Days on Market223
Property Features for 5454 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Patio and Porch features
Patio
Exterior features
Deck/Patio, Fence Owned, Fenced Yard, Garden Area
Fencing
Fenced
Lot features
Main Street
Subdivision
Lexington (76035)
Standard status
Active
APN
152-300-000-020-01
Size
2,145 SF
Lot size
0.26 Acres
Utilities
Heating system
Oil, Baseboard
Water source
Public
Amenities
wrap-around porch
gardens
Building Details
Year built
1895
Roof type
Shingle
Additional Structures
Second Garage
Listing Agency:
Premier Properties Real Estate LLC · Coldwell Banker Real Estate
(810) 359-2000
Listed By:
Dennis Quinn
(810) 334-2033
Added: Mar 13
Changed: Oct 15
Last Checked: Oct 21 at 5:06AM
MLS# 50201481
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1895, this 2,145-square-foot storefront occupies a 0.26-acre property in downtown Lexington. The one-and-a-half-story building features a wraparound porch, patio area, fenced grounds, and established perennial gardens. Baseboard heating fueled by oil, public water service, and a shingle roof are in place.
Accessory storage includes an 8x12 garden shed, an 8x10 utility barn, and a two-story 30x40 barn. The downtown setting supports pedestrian access within the village, while the outdoor areas provide additional space associated with the property’s commercial configuration. The existing layout and grounds offer a distinctive setting for continued storefront use or another business concept supported by the building and site.
Accessory storage includes an 8x12 garden shed, an 8x10 utility barn, and a two-story 30x40 barn. The downtown setting supports pedestrian access within the village, while the outdoor areas provide additional space associated with the property’s commercial configuration. The existing layout and grounds offer a distinctive setting for continued storefront use or another business concept supported by the building and site.
Key Highlights
- 2,145‑square‑foot storefront on a 0.26‑acre property
- Wraparound porch, patio, fenced yard, and perennial gardens
- Two‑story 30x40 barn provides additional storage
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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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Historic one-and-a-half-story commercial property with gardens, patio space, and multiple accessory structures.
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 storefront on a 0.26‑acre property; Wraparound porch, patio, fenced yard, and perennial gardens; Two‑story 30x40 barn provides additional storage
