Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23018 South Shore Dr Edwardsburg, MI 49112

    Sponsored
    For Sale
    $795,000

    COMMERCIAL - Edwardsburg, MI

    Type:Retail
    Property size:
    3,967 SF
    Lot size:
    1.50 Acres
    Days on Market:
    33
    Last Refresh:
    Feb 6 at 5:06 am

    Property Features for 23018 South Shore Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Basement, Bathroom 2, Bathroom 1
    Bathrooms
    2
    APN
    14-090-085-001
    Interior features
    Broadband
    Size
    3,967 SF
    Lot size
    1.50 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well, Private

    Building Details

    Year built
    1960
    Floors in Building
    1
    Number of units
    1
    Building materials
    Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Jerry Bolock
    Jerry Bolock

    Coldwell Banker Roth Wehrly Graber (574) 340-4271

    Listing agent Jerry Bolock (269) 663-8800

    Listing date Jan 5, 2026

    MLS# 25018720

    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.

    Learn more

    Property Insight Report

    Overview

    Edwardsburg Restaurant Opportunity For Sale

    This commercial property in Edwardsburg, Michigan, presents an opportunity to own a restaurant. The property spans over 1.5 acres, offering potential for outside dining. The building features 3500 square feet upstairs and an additional 3500 square feet downstairs, including a full-service bar. The restaurant, operating as Stacy's since 1990, has been a destination for fine dining since 1960, previously known as Eagle Park Inn. The sale includes the property, building, all equipment, and a Class C license. The building size is 3967 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Stacy's Food & Spirits Restaurant

    Suggested Use

    Restaurant Real Estate Agency Kitchen & Bath Showroom Clothing & Fashion Store (Bike/Boat/Book/etc) Store Restaurant (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Edwardsburg
    County
    Cass
    State
    Michigan
    Longitude
    -86.011075
    Latitude
    41.798547

    Nearby Similar for Sale

    • $700,000
      2,484 SF

      Edwardsburg Restaurant and Bar

      Turnkey restaurant and bar with high visibility and steady traffic.
      69213 M-62, Edwardsburg, MI 49112
      View Details
    • $700,000

      Turnkey Restaurant and Bar Opportunity

      Established restaurant and bar with transferable liquor license for sale.
      69213 M 62, Edwardsburg, MI 49112
      View Details
    • $135,000
      956 SF

      Updated Home Near Garver Lake

      Move-in ready home near Garver Lake with many updates.
      24923 Sandy Beach Dr, Edwardsburg, MI 49112
      View Details
    • $259,900

      Versatile Commercial Space in Edwardsburg

      Flexible commercial space with ample parking and expansion potential.
      26285 E Shore Dr, Edwardsburg, MI 49112
      View Details
    • $795,000

      Profitable Restaurant with Class C License

      Established restaurant with property, equipment, and liquor license included.
      23018 South Shore Dr, Edwardsburg, MI 49112
      View Details
    • $650,000
      5,069 SF

      Restaurant Opportunity Near Garver Lake

      Former restaurant with lake access and equipment included for sale.
      25020 May St, Edwardsburg, MI 49112
      View Details
    • $235,000
      1,155 SF

      Lakeside Condo with Boat Slip

      Charming 2-bedroom condo with lake access and boat slip.
      68570 Morton Dr, Edwardsburg, MI 49112
      View Details
    • $235,000
      1,155 SF

      Lakeside Condo with Boat Slip

      Two-bedroom condo with lake access and boat slip.
      68570 Morton Dr, Edwardsburg, MI 49112
      View Details
    • $1,495,000

      Edwardsburg Mixed-Use Investment Opportunity

      High-potential mixed-use property in Edwardsburg, MI.
      26296 Us Highway 12, Edwardsburg, MI 49112
      View Details

    FAQs

    What type of property is this?
    Restaurant - Profitable restaurant with property, equipment, and liquor license included.
    Where is this restaurant located?
    The property is located at 23018 South Shore Dr Edwardsburg, MI.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: - Established, Profitable Restaurant Business Included; - Includes Real Estate, Building, Equipment, and Class C License; - Large 1.5+ Acre Property with Outdoor Dining Potential
    (574) 298-6730
    Request Owner's contact information
    23018 South Shore Dr Edwardsburg, MI 49112
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23018 South Shore Dr
    Edwardsburg, MI 49112
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    23018 South Shore Dr Edwardsburg, MI 49112
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jerry Bolock
    Jerry Bolock
    Real Estate License ID: 6501316241
    (574) 298-6730
    Learn more
    Google sign-in failed. Please try again or use another login method.