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    16 S Clare Ave Harrison, MI 48625

    View on Map
    Sponsored
    For Sale
    Under Contract
    $198,000

    Business - Harrison, MI

    Type:Business
    Property size:
    4,000 SF
    Lot size:
    2.10 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 28 at 9:06 am

    Property Features for 16 S Clare Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active Under Contract
    Zoning
    Commercial
    APN
    011-003-200-02
    Parking features
    Off Street, Parking Lot
    Patio and Porch features
    Patio, Deck
    Interior features
    ADA Accessible, Bath, Cable Internet Installed, Cafe/Kitchen, Carpet, Concrete Floor, Delivery Area, Delivery Door, Furniture, Interior Sprinkler, Restroom(s), Sprinkler System, Telephone
    Exterior features
    Ada Accessible, Deck/Patio
    Accessibility
    Accessible Approach with Ramp
    Size
    4,000 SF
    Lot size
    2.10 Acres

    Utilities

    Utilities
    Phone Available
    Heating system
    Forced Air
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1940
    Flooring type
    Carpet, Concrete
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    ROBERT DIMMER

    Condell Wonder Land Realty

    Listing agent ROBERT DIMMER License #6502389399

    Listing date Mar 23, 2026

    MLS# 50123763 Listing URL

    Copyright © 2026 Clare Gladwin Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restaurant Opportunity in High Traffic

    This former restaurant, previously known as Pepperoncini's, is situated on 2 acres in a high-traffic area at the intersection of Old US 127 and M-61, south of the expressway exit. The commercial building has 4000 square feet of working space and can seat approximately 100 people, with an additional 15 seats at the bar area and outside patio seating. It features a kitchen area with walk-in coolers and restroom facilities for men and women. Recent new flooring has been installed in the dining area. The previous restaurant served beer, wine, and alcohol, but the current owner did not maintain the licenses. According to the Hatton Township supervisor, a liquor license appears to be available, subject to the buyer's application and approval from the Township and liquor control.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Leathernecks MC, Michigan ... Motoring Club

    Suggested Use

    Restaurant Real Estate Agency Hair Salon Auto Repair Shop Hotel & Motel Auto Parts Store Storage Facility Electrical Service Grocery & Convenience Store Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Clare
    State
    Michigan
    Longitude
    -84.77403
    Latitude
    43.990157

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    FAQs

    What type of property is this?
    Conventional restaurant - Former restaurant on 2 acres in high traffic area.
    Where is this conventional restaurant located?
    The property is located at 16 S Clare Ave Harrison, MI.
    What is the asking price?
    The asking price for this property is $198,000.
    What are key features of this property?
    This property features: - High-traffic location on 2 acres at the intersection of Old US 127 and M-61, near expressway exit.; - Former restaurant space with seating for approximately 100 people, plus bar seating for 15 and outside patio seating.; - Equipped with a kitchen area including walk-in coolers, and multiple restrooms.
    (989) 539-2771
    Request Owner's contact information
    16 S Clare Ave Harrison, MI 48625
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    Harrison, MI 48625
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16 S Clare Ave Harrison, MI 48625
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    We can help!
    Listing Contact
    ROBERT DIMMER
    Real Estate License ID: 6502389399
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