Turnkey Restaurant in Historic
For Sale
$498,000
113 N Farmer Street, Otsego, MI 49078
COMMERCIAL - Otsego, MI
Property Size3,420 SF
Price / SF$145.61
Days on Market229
Property Features for 113 N Farmer Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBD
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 3, Basement
Elementary school district
Otsego
Middle school district
Otsego
High school district
Otsego
Directions
I-94 to US-131 North to Otsego exit W. Turn right on Farmer St. Building is on the left side of the street.
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
54-100-017-01
Size
3,420 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Per Title work
Tax Annual Amount
8186
Legal Description
Per Title work
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Brick, Stone
Listing Agency:
Chuck Jaqua, REALTOR
(269) 381-7653
Listed By:
Joanne K Becker · License #6502342093
(269) 217-9878
Added: Dec 15, 2025
Changed: Jul 25
Last Checked: Aug 1 at 1:06PM
MLS# 25062860
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey restaurant opportunity is located inside a newly renovated and restored 125+ year old storefront building. The building is set up with a full kitchen suitable for soups, sandwiches, baked goods, smoked meats, and wood fired pizzas. Dining capacity is described as 65–70 seats, and the kitchen is stated to accommodate that volume and support both dine-in and take-out service. The sale includes the real estate and FF&E.
A city parking lot is located very close to the front and rear entrances, supporting convenient customer access. The property also includes a second-floor apartment totaling 900 square feet, with 1 bath and 2 bedrooms, remodeled in 2022.
The listing references the property as historically used for food and beverage in Otsego, and notes it was formerly home to Mac's Place.
A city parking lot is located very close to the front and rear entrances, supporting convenient customer access. The property also includes a second-floor apartment totaling 900 square feet, with 1 bath and 2 bedrooms, remodeled in 2022.
The listing references the property as historically used for food and beverage in Otsego, and notes it was formerly home to Mac's Place.
Key Highlights
- Newly renovated and restored 125+ year old store front building formerly home to Mac's Place
- Restaurant setup with a full kitchen for soups, sandwiches, baked goods, smoked meats, and wood fired pizzas
- Seating for 65–70 plus a kitchen designed to accommodate more than this volume; dine‑in and take‑out ready
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.9k | $15.48 |
| − Vacancy | −$2.2k | −$0.65 |
| EGI | $50.7k | $14.83 |
| − OpEx | −$12.7k | −$3.71 |
| NOI | $38.0k | $11.12 |
3,420 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$543.4K
$475.5K – $634.0K
NOI $38,039 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$32.12M
$28.10M – $37.47M
NOI $2,248,213 @ 7.0% cap · market cap 451.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Bobs True Value
Home Improvements & Furnishings
2,576 visits/mo
0.1 miles
Demographics for 49078, MI
9,483
Population
4,315
Households
2.2
Avg Household Size
41
Median Age
19%
College-Educated
92%
High-School Grad
49.5 sq mi
ZIP Area
192
Density / Sq Mi
$77,517
Median Household Income
$44,956
Median Earnings
$1,106
Median Rent
$189,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant for sale with seating for 65–70 and a full kitchen in a newly renovated historic storefront.
Where is this conventional restaurant located?
The property is located at 113 N Farmer Street Otsego, MI.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Newly renovated and restored 125+ year old store front building formerly home to Mac's Place; Restaurant setup with a full kitchen for soups, sandwiches, baked goods, smoked meats, and wood fired pizzas; Seating for 65–70 plus a kitchen designed to accommodate more than this volume; dine‑in and take‑out ready
