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    Property profile & analytics

    163 S Main St, Unit A Leslie, MI 49251

    • Retail space
    • 2,908 SF
    • 0.13 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Nov 03, 2022
    $210,000
    Value Estimations
    $215,000
    Cap Rate Potential
    9.4%
    Retail space
    Location Intelligence
    Property ID
    US43-1065040
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sproat Realty Professionals - Leslie / Real Estate Agency
    • Mary Shean / Real Estate Agent
    • Mary Serra - REALTOR / Real Estate Agent / Service Establishment

    Property Details for 163 S Main St

    Year built
    1890
    Lot size
    0.13 lot acres
    Property size
    2,908 SF
    Zone code
    B1 GEN
    Property type
    Retail space
    APN
    33-17-14-28-202-019
    APU
    33171428202019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $215,000
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $176,000
      Market price range: $126k - $340k
      AI Estimate
      $307,000
      Market price range: $130k - $586k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leslie
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4316
    Latitude
    42.4499
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $3,437
    $10,050
    $70,350
    $80,400
    -
    $20,100
    $140,700
    $160,800

    Comparable in this City

    • Value Estimation
      $280,000
      468 SF

      115 Main St

      RETAIL STORES (PERSONAL SERVICES) • 468 SF
      115 Main St, Leslie, MI 49251-2510
      View Details
    • Value Estimation
      $275,000
      824 SF

      206 Main St, Unit 10

      RETAIL STORES (PERSONAL SERVICES) • 824 SF
      206 Main St, Leslie, MI 49251-2554
      View Details
    • Value Estimation
      $335,000
      3,784 SF

      114 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,784 SF
      114 Main St, Leslie, MI 49251-2504
      View Details
    • Value Estimation by Request
      3,768 SF

      149 Main St, Unit 14

      RETAIL STORES (PERSONAL SERVICES) • 3,768 SF
      149 Main St, Leslie, MI 49251-2512
      View Details
    • Value Estimation
      $325,000
      3,612 SF

      108 Main St, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 3,612 SF
      108 Main St, Leslie, MI 49251-2513
      View Details
    • Value Estimation by Request
      928 SF

      133 Main St, Unit 16

      RETAIL STORES (PERSONAL SERVICES) • 928 SF
      133 Main St, Leslie, MI 49251-2516
      View Details

    Similar Nearby for Sale

    • $150,000
      1,344 SF

      Retail Space in Leslie, MI

      Retail property suitable for immediate business operation in Leslie, MI.
      113 Carney St, Leslie, MI 49251
      View Details
    • $349,900
      8,422 SF

      Downtown Leslie Commercial Opportunity

      Freestanding building with two established businesses in downtown Leslie.
      208 N Main St, Leslie, MI 49251
      View Details
    • $150,000
      1,344 SF

      Retail Opportunity in Leslie, MI

      Retail property for sale in Leslie, Michigan.
      113 Carney St, Leslie, MI 49251
      View Details
    • $210,000
      3,069 SF

      Leslie Retail Space & Loft

      Downtown Leslie retail space with renovated loft. High-return investment opportunity.
      106 Bellevue St, Leslie, MI 49251
      View Details
    • $403,700
      Pending

      Land Available in Leslie, MI

      67.29 acres of farmland with tillable acreage.
      Vl Olds Rd, Leslie, MI 49251
      View Details
    • $104,900

      Land Available for Sale

      Land for sale at 714 Mill St 75, Leslie, MI
      714 Mill St, Leslie, MI 49251
      View Details

    Similar Nearby for Lease

    • New
      $12 SF/Yr
      1,400 SF

      Retail Space in Leslie, MI

      Retail space available for lease in Leslie, Michigan.
      163 S Main St, Leslie, MI 49251
      View Details
    • $6 SF/Yr
      25,606 SF

      Leslie, MI Retail Center

      Highway-Visible Retail Spaces Available
      810 Bellevue St, Leslie, MI 49251
      View Details
    • New
      $12 SF/Yr
      1,400 SF

      Downtown Leslie Office Space Available

      Office space in downtown Leslie, Michigan, near Lansing and Jackson.
      163 S Main St, Leslie, MI 49251
      View Details
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    Leslie, MI 49251
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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