Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23018 South Shore Drive Edwardsburg, MI 49112

    View on Map
    Claim this Listing
    For Sale
    $795,000

    COMMERCIAL - Edwardsburg, MI

    Type:Retail
    Property size:
    3,967 SF
    Lot size:
    1.50 Acres
    Price / SF:
    $200/SF
    Added:
    Apr 30, 2025
    Days on Market:
    364
    Last Refresh:
    Apr 28 at 9:06 am

    Property Features for 23018 South Shore Drive

    General Information

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

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Eagle Park-lots1-10
    Tax Annual Amount
    4897

    Utilities

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

    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

    Listing agent Jerry Bolock License #6501316241

    Listing office Coldwell Banker Real Estate Group 69171 Elkhart Rd, Edwardsburg, MI

    Listing date Apr 30, 2025

    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.

    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 space for outside dining. The building includes 3,500 square feet upstairs and 3,500 square feet downstairs, with an additional full-service bar. The restaurant has been operating as Stacy's since 1990 and has a profitable business. The price includes the property, building, all equipment, and a Class C license. The building has been a destination for fine dining since 1960, previously operating as Eagle Park Inn.
    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
    • $230,000
      4,000 SF

      Edwardsburg Commercial Building on Large Lot

      4,000 Sq.Ft commercial building on 1.22 acres near state line.
      19659 U.S. 12, 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
      View Details
    • $259,900
      2,000 SF

      Versatile Commercial Space in Edwardsburg

      Flexible commercial space with ample parking and expansion potential.
      26285 East Shore Drive, Edwardsburg, MI 49112
      View Details
    • $795,000
      3,967 SF

      Profitable Restaurant with Class C License

      Established restaurant for sale with property, equipment, and license.
      23018 S South Shore Drive, Edwardsburg, MI 49112
      View Details
    • $1,495,000

      Commercial Property with Development Potential

      Mixed-use property offering various possibilities for commercial real estate.
      26296 US-12, Edwardsburg, MI 49112
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Profitable restaurant with property, equipment, and liquor license included.
    Where is this conventional restaurant located?
    The property is located at 23018 South Shore Drive 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: Operating as Stacy's since 1990, a thriving business with a dining destination history since 1960.; Included in Price: Property, building, all equipment, and a Class C liquor license.; Large Property: Over 1.5 acres with ample space for outside dining.
    (574) 298-6730
    We can help!
    Listing Contact
    Jerry Bolock
    Jerry Bolock
    Real Estate License ID: 6501316241
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!