Technical
Financial
Distress signals
Property profile

203 Main St Wayland, MI 49348

OFF-MARKET
Retail space
Property ID
US43-2435147
1,813 SF 0.21 ac lot Built 1955
Individually Owned 14-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 3,100 square foot commercial building at 203 N Main in Wayland, MI, presents a unique opportunity for entrepreneurs. Situated on a 0.21-acre lot at the edge of the business district, this property boasts ample paved parking and a large storage area. Currently operating as a successful hair salon (The Hair Cut Hut), the space comfortably accommodates 6-8 styling stations, with additional room readily available for expansion into massage therapy, nail services, or a combination thereof. The building's versatility is further highlighted by its past uses as an auto detailing shop and auto parts store, demonstrating its adaptability to a variety of businesses. Significant upgrades were completed approximately 10 years ago, including a complete remodel, a new furnace, water heater, air conditioning system, and roof replacement, ensuring the building is well-maintained and ready for immediate occupancy. The asking price is $425,000. This property offers a compelling investment opportunity for those seeking to establish a new business, expand an existing one, or acquire a profitable, established salon in a thriving community. Don't miss this chance to own a piece of Wayland's vibrant commercial landscape.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1955
Total area 1,813 SF
Lot 0.21 ac (9,235 SF)
APN 56-400-021-00
UPID US43-2435147

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 Nail Salon

Location

203 Main St Wayland, MI 49348-1206
Wayland metro Census 30502 HOLLAND, MI MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$315k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$315k

Owner & transaction history

since 2011
1 recorded transaction
2011
Price N/A

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
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