Hair Salon Storefront
For Sale
$399,000
5637 Middlebelt Rd, Garden City, MI 48135
Well-maintained storefront currently operating as a hair salon with recent HVAC and water heater, plus on-site parking.
Property Size1,760 SF
Price / SF$226.70
Days on Market88
Property Features for 5637 Middlebelt Rd
General Information
Standard status
Active
Size
1,760 SF
Building Details
Year Built
1956
Listing Agency:
RE/MAX Team 2000
Listed By:
Michael Beydoun
Source:
Katie-k
Added: Jul 25
Changed: Oct 4
Last Checked: Oct 7 at 1:19PM
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 RE/MAX Team 2000
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Investment Insights
Based on property information with market context.
Located at 5637 Middlebelt Road (Unit SourceFi) in Garden City, this well-maintained storefront is currently operating as a hair salon. The property includes recent mechanical improvements, with a new HVAC system and water heater installed within the last three years.
The suite sits in downtown Garden City on Middlebelt Road, just north of Ford Road, within an established retail corridor. The property is described as offering visibility and accessibility, along with ample on-site parking.
While currently used as a hair salon, the space is presented as suitable for a variety of uses, including retail, office, medical, or service-oriented operations.
The suite sits in downtown Garden City on Middlebelt Road, just north of Ford Road, within an established retail corridor. The property is described as offering visibility and accessibility, along with ample on-site parking.
While currently used as a hair salon, the space is presented as suitable for a variety of uses, including retail, office, medical, or service-oriented operations.
Key Highlights
- Currently operating as a hair salon storefront in Downtown Garden City on Middlebelt Road, just north of Ford Road
- New HVAC system and new water heater installed within the last three years
- On‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,676
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,520
$333.5K
Cap Rate 7%
$238,229
$238.2K
Cap Rate 9%
$185,289
$185.3K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$25.3K $14.40/SF
− Vacancy
−$1.5K −$0.86/SF
EGI
$23.8K $13.54/SF
− OpEx
−$7.1K −$4.06/SF
NOI
$16.7K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,520
Cap Rate 7%
$238,229
Cap Rate 9%
$185,289
Alternative Uses
Best Use
Retail
$238.2K
$208.5K – $277.9K
NOI $16,676 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
198k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 32%
Groceries 13%
Apparel 3%
McDonald's
Dining
32,019 visits/mo
0.2 miles
Aldi
Groceries
23,491 visits/mo
0.4 miles
Dollar Tree
Shops & Services
16,471 visits/mo
0.1 miles
Chase Bank
Shops & Services
15,193 visits/mo
0.2 miles
Burger King
Dining
13,072 visits/mo
0.5 miles
Demographics for 48135, MI
27,380
Population
11,395
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,641
Density / Sq Mi
$64,396
Median Household Income
$39,987
Median Earnings
$991
Median Rent
$162,400
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
Similar Off Market Nearby
- Boland Florist — 29517 Ford Rd, Garden City, MI 48135
- The Wild Iris Floral Boutique — 6205 Middlebelt Rd, Garden City, MI 48135
Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained storefront currently operating as a hair salon with recent HVAC and water heater, plus on-site parking.
Where is this storefront property located?
The property is located at 5637 Middlebelt Rd Garden City, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Currently operating as a hair salon storefront in Downtown Garden City on Middlebelt Road, just north of Ford Road; New HVAC system and new water heater installed within the last three years; On‑site parking available
