@ADayToDaySIM There is nothing stopping you from building a flat about a retail lot and living there, many simmers have done so.
You will still need to own a residential lot, but you could keep that lot entirely empty and just live at your owned retail store.
The downside is that the game is coded to only considers a retail lot a retail lot and not a residential/retail lot, even if there was a bed etc there.
If you travel somewhere and then click the quick "go home" button, it will take you to your residential lot, so you have to remember to travel to your retail lot.
Like other suggestions, to make it feel more real, consider locking the flat's front door to all sims other than your household to prevent random customers walking in and out of your flat and using the items in there.