Mixed-Use Property with
5699 Main Street, Lexington, MI 48450
For Sale
$369,900
COM/IND/BUS OPP, Lexington, MI
Property Size1,340 SF
Lot Size0.56 Acres
Price / SF$276.04
Days on Market139
Property Features for 5699 Main Street
General Information
Property type
Property subtype
Zoning description
Rooms
Patio and Porch features
Exterior features
Lot features
Subdivision
Standard status
APN
Size
Lot size
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Roof type
Buildings
Listing Agency:
Town & Country Realty-Lexington
(810) 359-5000
Listed By:
Tracy Kritzman · License #6501378946
(810) 434-5129
Added: Jun 24
Changed: Nov 7
Last Checked: Nov 9 at 5:06AM
MLS# 50212530
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Investment Insights
Based on property information with market context.
This mixed-use property combines a 1,340-square-foot, three-bedroom, one-bath home with a barn on 0.56 acres. The residence dates to 1900 and includes a basement, shingle roof, forced-air heat, ceiling fans, and wall or window cooling units. A patio provides outdoor space, while public water serves the property.
The site is located at 5699 Main Street in the Village of Lexington, within Sanilac County. The property information identifies potential for business operations, workshop activity, storage, rental use, studio space, or a live-work arrangement. Its setting also provides access to the village marina, Lake Huron beaches, shopping, restaurants, and other local attractions.
The site is located at 5699 Main Street in the Village of Lexington, within Sanilac County. The property information identifies potential for business operations, workshop activity, storage, rental use, studio space, or a live-work arrangement. Its setting also provides access to the village marina, Lake Huron beaches, shopping, restaurants, and other local attractions.
Key Highlights
- 1,340‑square‑foot home with 3 bedrooms and 1 bath
- Barn included on 0.56 acres
- Residential and commercial use potential, including live‑work, workshop, storage, and studio space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,491
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,820
$329.8K
Cap Rate 7%
$235,586
$235.6K
Cap Rate 9%
$183,233
$183.2K
Market Conditions
NOI Build-Up for 1,340 SF
Gross rent
$25.6K $19.08/SF
− Vacancy
−$3.6K −$2.67/SF
EGI
$22.0K $16.41/SF
− OpEx
−$5.5K −$4.10/SF
NOI
$16.5K $12.31/SF
Area
Sanilac County, MI
Vacancy
14.00%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,820
Cap Rate 7%
$235,586
Cap Rate 9%
$183,233
Alternative Uses
Best Use
Office B
$235.6K
$206.1K – $274.9K
NOI $16,491 @ 7.0% cap · market cap 4.46%
Second Best
Mixed Use
$129.2K
$113.1K – $150.8K
NOI $9,045 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$284.6K
$249.0K – $332.0K
NOI $19,921 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
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Business Placement
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential and commercial improvements support flexible live-work, workshop, storage, or studio use.
Where is this mixed-use property located?
The property is located at 5699 Main Street Lexington, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1,340‑square‑foot home with 3 bedrooms and 1 bath; Barn included on 0.56 acres; Residential and commercial use potential, including live‑work, workshop, storage, and studio space
