Individually Owned 
For Sale
1 / 14
$81,999
107 Homer Rd, Concord, MI 49237
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Property summary
AI-generated overview
This property is a salon space located at 107 Homer Road in Concord Village, Michigan. The interior is configured for client services with multiple styling stations and chairs, wash stations for hair-washing services, and on-site laundry facilities and equipment, arranged in a functional layout intended for customer use. The space is offered with furniture and equipment included, supporting immediate operation as a salon without requiring new buildout.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1952
Total area
780 SF
Lot
0.03 ac (1,307 SF)
Zoning code
COM
APN
005-11-27-351-005-00
UPID
US43-0600913
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hair Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$50k
Owner & transaction history
since 2022
Last sale
$46,000
2 recorded transactions
Zoning & alternative use
COM · Concord, MI
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$50k
Value range
$45k – $55k
±10% around blend
Estimated value / SF
$64 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$45k
blend $50k
$55k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
780 SF
Lot area
0.03 ac
Year built
1952
Stories
1
APN
005-11-27-351-005-00
Zoning
COM
Assessed value
$22,100
Annual tax
$1,028
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$1,028
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$50k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 104 sales
$68
-6%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $64/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
6.43%
Selected cap rate for this retail space
Derived from the Concord market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.43%
9.0%
NOI (est.)
$5k *
Last sale · Feb 2022
$46k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$82k
Move the market yield to see immediate price impact.
Value / SF
$105
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.93%6.43%6.93%
$5k
$80k
$74k
$68k
$5k
$89k
$82k
$76k
$6k
$98k
$90k
$84k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$1,028
Tax year 2022
Assessed value
$22,100
Assessed 2023
Previous assessed
$22,200
-0.5% YoY
Effective rate
4.65%
On assessed value
Assessed land
$1,700
Assessed improvement
$20,400
Land market value
$3,400
Improvement market value
$40,800
Total market value
$44,200
Applied tax rate
43.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1952
Heating
FORCED AIR
Stories
1
Total area
780 SF
Lot
0.03 ac (1,307 SF)
Zoning code
COM
APN
005-11-27-351-005-00
UPID
US43-0600913
Jurisdiction
JACKSON
Zoning & alternative use
COM · Concord, MIZoning COM · permitted uses
COM · Concord, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1952
Heating
FORCED AIR
Stories
1
Lot
0.03 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
COM
Jurisdiction
Concord, MI
Recorded code
COM
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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