Property profile

119 Main St Chelsea, MI 48118

OFF-MARKET
Retail space
Property ID
US43-1574831
3,969 SF 0.06 ac lot Built 1900
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 2,648-square-foot commercial space, located at 119 S Main St in Chelsea, Michigan (zip code 48118), presents a unique opportunity for a variety of businesses. The property, situated in the heart of downtown Chelsea, offers high visibility and significant foot traffic, ensuring maximum exposure. The building, renovated in 2024, features a charming blend of historic character and modern functionality. The main level encompasses 2,148 square feet (22' x 100'), providing ample space for retail or office use. An additional 500 square feet is available on the lower level, currently accessible via an internal staircase. The interior boasts exposed brick walls and hardwood flooring, creating an attractive aesthetic suitable for diverse build-out options. The C-5 (Central Business District) zoning allows for flexible use. Convenient parking is available both in the rear of the building and on the street. This single-tenant space, within a two-story building with 12-foot ceilings, is ideal for entrepreneurs seeking a prime location in a thriving downtown area. The property's combination of historic charm, modern updates, and excellent location makes it an exceptional investment opportunity. The address is easily accessible via Middle Cross Street.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1900
Total area 3,969 SF
Lot 0.06 ac (2,396 SF)
Zoning code C5 CENT
APN 06-06-12-183-020
UPID US43-1574831

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

119 Main St Chelsea, MI 48118-1542
Chelsea metro Census 446400 ANN ARBOR, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$600k
CAP Approach CAP
$830k
Comparable Approach Comparable
$453k
Blend (final) Blend
$600k

Owner & transaction history

since 2024
Last sale
$600,000
7 recorded transactions
2024
Price N/A
2024
$600,000
2023
Price N/A
2008
Price N/A
2003
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C5 CENT · Chelsea, MI
Top alternative use upside
Office building $600,000 +31.0%
Commercial (general) $570,000 +24.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 119 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message