Turnkey Restaurant and Bar with
For Sale
$424,900
1300 W Sherman Boulevard, Muskegon, MI 49441
COMMERCIAL - Muskegon, MI
Property Size2,505 SF
Lot Size1.09 Acres
Price / SF$169.62
Days on Market530
Property Features for 1300 W Sherman Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Muskegon
Middle school district
Muskegon
High school district
Muskegon
Directions
Head north on US-31 N. Take the Sherman Blvd exit (Exit 112A). Turn left onto Sherman Blvd and continue west for about 3.8 miles. Your destination will be on the right.
Subdivision
Muskegon County - M
Standard status
Active
APN
24-036-300-0011-00
Size
2,505 SF
Lot size
1.09 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
DIST:24 SEC/TWN/RNG/MER:SEC 36 TWN 10N RNG 17W CITY OF MUSKEGONSEC 36 T10N R17WS 263 FT OF E 1/2 SE 1/4 SW 1/4 EXC E 30
Tax Annual Amount
8097
Legal Description
DIST:24 SEC/TWN/RNG/MER:SEC 36 TWN 10N RNG 17W CITY OF MUSKEGONSEC 36 T10N R17WS 263 FT OF E 1/2 SE 1/4 SW 1/4 EXC E 30
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
live music
comedy
DJ
karaoke
pool tables
jukebox
keno
TVs
Building Details
Year built
1950
Number of units
1
Listing Agency:
Legacy Real Estate Partners
(616) 402-3595
Listed By:
Darrin Miller
(231) 683-5597
Added: Feb 27, 2025
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 25007045
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.
For sale: a turnkey restaurant and bar at 1300 W Sherman Boulevard in Muskegon, MI, offering seating for over 100. The interior includes updated floors, bathrooms, and kitchen, and the exterior features a newer deck. The business is presented with business items, inventory, amenities, and license included.
The property sits on approximately 1.09 acres and is described as being located on a main street with lots of traffic and a huge parking lot to support customer access.
The operation is set up for gatherings and events, with entertainment options noted in the listing such as live music, comedy, DJs, karaoke, pool tables, a jukebox, keno, and TVs throughout for sporting events.
The property sits on approximately 1.09 acres and is described as being located on a main street with lots of traffic and a huge parking lot to support customer access.
The operation is set up for gatherings and events, with entertainment options noted in the listing such as live music, comedy, DJs, karaoke, pool tables, a jukebox, keno, and TVs throughout for sporting events.
Key Highlights
- Restaurant & bar with seating for over 100 guests
- 1+ acre property with room to expand and develop
- Huge parking lot plus exterior space for additional development
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,862
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,240
$557.2K
Cap Rate 7%
$398,029
$398.0K
Cap Rate 9%
$309,578
$309.6K
Market Conditions
NOI Build-Up for 2,505 SF
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.
Gross rent
$38.8K $15.48/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$37.1K $14.83/SF
− OpEx
−$9.3K −$3.71/SF
NOI
$27.9K $11.12/SF
Area
Muskegon County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,240
Cap Rate 7%
$398,029
Cap Rate 9%
$309,578
Alternative Uses
Best Use
Specialty Retail
$398.0K
$348.3K – $464.4K
NOI $27,862 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$23.52M
$20.58M – $27.45M
NOI $1,646,718 @ 7.0% cap · market cap 387.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
150k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 24%
Home Improvements & Furnishings 18%
Dining 8%
The Home Depot
Home Improvements & Furnishings
26,924 visits/mo
0.3 miles
Wesco
Shops & Services
25,602 visits/mo
0.3 miles
Aldi
Groceries
18,796 visits/mo
0.4 miles
Dollar Tree
Shops & Services
17,655 visits/mo
0.4 miles
Gordon Food Service
Groceries
17,419 visits/mo
0.4 miles
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nauty's — 1300 W Sherman Blvd, Muskegon, MI 49441
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- Skeetown Tavern — 1308 W Sherman Blvd, Muskegon, MI 49441
- DJ's Pub & Grill — 2064 Henry St, Muskegon, MI 49441
- Pop a Top — 2185 Henry St, Muskegon, MI 49441
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey restaurant and bar with seating for over 100 and a newer deck, plus updated kitchen and bathrooms.
Where is this bar & pub located?
The property is located at 1300 W Sherman Boulevard Muskegon, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Restaurant & bar with seating for over 100 guests; 1+ acre property with room to expand and develop; Huge parking lot plus exterior space for additional development
