406 Main StRochester, MI 48307

Property Details for 406 Main St

Year built

1901

Lot size

0.07 AC

Property size (Sq ft)

3,144 SF

Zone code

BI

Property type

Retail space

APN

68-15-14-101-008

APU

681514101008

Description

This exceptional mixed-use property, located at 406 S Main St in Rochester, Michigan, presents a compelling investment opportunity. The 3,350 square foot building boasts a premium retail location with 20 feet of street frontage, currently generating strong rental income. The ground floor offers versatile retail space, commanding an average rent of $33 per square foot. Upstairs, two residential units provide additional income streams: a two-bedroom unit rented month-to-month for $900 (tenanted for 20 years) and a three-bedroom unit currently rented for $1595 (tenants until October). The building sits on a 0.1610-acre lot and includes a total of 5,964 square feet of building space. Significant upgrades have been completed within the last five years, including roof and electrical panel replacements, minimizing future maintenance expenses. This well-maintained property offers stable rental income and substantial growth potential, making it an ideal addition to any investment portfolio. The asking price is $1,099,000. The property is zoned for mixed-use and is situated in the vibrant downtown Rochester area. This is a rare opportunity to acquire a turn-key investment property in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $961,242

  6.5%

  $887,300

  7%

  $823,922

• Comparable approach

  Method

  Valuation

  Relative Method

  $741,106

  Geo Method

  $741,106

• Alternative Use

  Use

  Valuation

  Residential

  $748,471

  Hospitality

  $685,595

  Educational

  $570,407

  Medical

  $590,024

  Retail

  $887,300

Location Insight

City

Rochester

County

Oakland

State

Michigan

Latitude

42.681

Longitude

-83.1333

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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