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Property profile & analytics
FOR LEASE
Retail space

115 S Main St Chelsea, MI 48118

9,678 SF 0.12 ac lot Built 2002
Entity Owned 20-yr Hold ~ Est. High Equity
Property ID
US43-5243089
Property summary
AI-generated overview

This exceptional 2,941-square-foot commercial space, formerly the popular Chelsea Ale House, is ideally situated on Main Street in the heart of downtown Chelsea. The property offers high visibility and significant foot traffic, benefiting from its prime location within a vibrant downtown area. The space features charming hardwood floors and exposed brick walls, creating a warm and inviting atmosphere. Included is 2,591 square feet of main floor space and an additional 255 square feet of basement storage. Existing restaurant equipment is available, making it an excellent opportunity for a food service business or similar venture. The property includes a private restroom and convenient access to shared restrooms. Ample parking is available both on the street and in a rear lot. The building itself boasts a modern and professional facade. This location is part of a thriving downtown scene, home to popular destinations such as the Purple Rose Theater and the Jiffy Mix Company, and benefits from the annual Chelsea Community Fair, Sounds & Sights music festival, nearby DTE bike trail, B2B hiking trail, and Waterloo Recreation Area. The property is zoned DT (Downtown Mixed Use), offering versatility for various business types. The APN is 06-06-12-183-032. This is a rare opportunity to establish a business in a highly desirable and well-established downtown location. The property is a single-tenant space within a larger building totaling 27,280 square feet. The cross street is Middle Street.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2002
Total area 9,678 SF
Lot 0.12 ac (5,401 SF)
Zoning code C5 CENT
APN 06-06-12-183-032
UPID US43-5243089
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.27M
Blend (final) Blend
$1.28M
Owner & transaction history
Tannin Property Group LLC · 20 yrs held
Tannin Property Group LLC
since 2006
4 recorded transactions
2024
Price N/A
2017
Price N/A
2006
$1.2M
1969
Price N/A
Zoning & alternative use
C5 CENT · Chelsea, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $1.5M +31.0%
Commercial (general) $1.4M +24.4%
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