Turnkey Restaurant and Residential
12229 Seymour Road Grass Lake, MI 49240
For Sale
$750,000
COMMERCIAL - Grass Lake, MI
Property Size5,310 SF
Lot Size1.09 Acres
Price / SF$141.24
Days on Market73
Property Features for 12229 Seymour Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Standard status
- Active
- APN
- 000-10-05-351-001-02
- Size
- 5,310 SF
- Lot size
- 1.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- On file
- Tax Annual Amount
- 11332
Utilities
- Utilities
- Cable Available
- Sewer type
- Septic Tank
- Heating system
- Forced Air
- Water source
- Well
Building Details
- Year built
- 1993
- Floors in Building
- 2
- Building materials
- Vinyl Siding
Listing Agency:
Swisher Commercial
(734) 663-0501
Listed By:
Charles Koenn · License #6506040186
(734) 926-0230
Added: May 14
Changed: May 26
Last Checked: Jul 24 at 11:06PM
MLS# 26024715
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 is a rare opportunity to acquire a fully operational restaurant and bar property with an accompanying single-family residence. The property is ideal for owner-operators, investors seeking a mixed-use income property, or hospitality groups seeking a destination-style venue. It is located in the heart of the Waterloo Recreation Area. The commercial building, built in 1993 and remodeled in 2009, is a 3,414 square foot restaurant and bar. It features a large L-shaped bar, a spacious dining room, and a commercial kitchen equipped with stainless prep lines, a hood system, fryers, burners, and refrigeration. Additional service areas and storage are also included. Outdoor amenities include a covered patio dining pavilion, a picnic-style seating area, a large outdoor smoker station, and landscaped grounds with a decorative pond. Ample parking is available. The site is 1.086 acres with C-1 zoning supporting restaurant, bar, retail, and other commercial uses. The residential home, built in 1950, is a 1,896 square foot ranch with 2 bedrooms and 2.5 baths. It includes a 450 square foot basement, a 480 square foot attached garage, forced heat and cooling, a large deck, a sunroom with a hot tub, and a fireplace. The lot size is 0.876 acres with mature trees and a landscaped yard. The combined acreage is approximately 1.96 acres with C-1 (Commercial) and R-3 (Residential) zoning. The property is located in a high-traffic recreational area near lakes and campgrounds, offering strong potential for destination dining, events, catering, or expansion.
Key Highlights
- Turnkey, fully operational restaurant/bar with a well‑equipped kitchen, bar infrastructure, and indoor/outdoor seating.
- Includes a separate, well‑maintained 1,896 sq ft single‑family residence.
- Located in the high‑traffic Waterloo Recreation Area, near lakes, campgrounds, and state land.
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 | $73.3k | $13.80 |
| − Vacancy | −$6.0k | −$1.13 |
| EGI | $67.3k | $12.67 |
| − OpEx | −$16.8k | −$3.17 |
| NOI | $50.5k | $9.50 |
5,310 SF · lease $13.80/SF/yr · vacancy 8.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$720.7K
$630.7K – $840.9K
NOI $50,452 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$470.6K
$411.8K – $549.1K
NOI $32,943 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$847.7K
$741.7K – $988.9K
NOI $59,336 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- Portage Lake Parlor — 12227 Seymour Rd, Grass Lake, MI 49240
FAQs
What type of property is this?
Bar & Pub - Fully operational restaurant/bar with residence in Waterloo Recreation Area.
Where is this bar & pub located?
The property is located at 12229 Seymour Road Grass Lake, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Turnkey, fully operational restaurant/bar with a well‑equipped kitchen, bar infrastructure, and indoor/outdoor seating.; Includes a separate, well‑maintained 1,896 sq ft single‑family residence.; Located in the high‑traffic Waterloo Recreation Area, near lakes, campgrounds, and state land.
