Wolf Lake Tavern
New
For Sale
$299,900
27 S Wolf Lake Road, Muskegon, MI 49442
Commercial Sale, Muskegon, MI
Property Size1,944 SF
Lot Size0.34 Acres
Price / SF$154.27
Days on Market5
Property Features for 27 S Wolf Lake Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Oakridge
Middle school district
Oakridge
High school district
Oakridge
Standard status
Active
APN
11-360-016-0003-00
Size
1,944 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E-897 & 898 EGELSTON TOWNSHIP LAKE VIEW PARK LOTS 3 & 4 BLK 16
Tax Annual Amount
2443
Legal Description
E-897 & 898 EGELSTON TOWNSHIP LAKE VIEW PARK LOTS 3 & 4 BLK 16
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Well
Building Details
Year built
1940
Number of units
1
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Greenridge - Nexes
Listed By:
William E Carlston · License #6506021186
(231) 739-3501
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 5 at 4:06AM
MLS# 26046464
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.
Wolf Lake Tavern is a 1,944-square-foot bar property on a 0.34-acre parcel at 27 S Wolf Lake Road in Muskegon, Michigan. The building dates to 1940 and features wood siding, a composition roof, forced-air heating, and two bathrooms. Its open interior is suited to dancing, pool leagues, community gatherings, and similar activities.
A large parking area serves the property, while Wolf Lake is within walking distance. The site has a private well water source and cable availability. The property is offered as a bar and pub asset in the Wolf Lake community.
A large parking area serves the property, while Wolf Lake is within walking distance. The site has a private well water source and cable availability. The property is offered as a bar and pub asset in the Wolf Lake community.
Key Highlights
- 1,944 SF bar property on a 0.34‑acre parcel
- Open interior supports dancing, pool leagues, and gatherings
- Large parking area for patrons
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
$21,622
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
7.21%
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%
$432,440
$432.4K
Cap Rate 7%
$308,886
$308.9K
Cap Rate 9%
$240,244
$240.2K
Market Conditions
NOI Build-Up for 1,944 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
$30.1K $15.48/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$28.8K $14.83/SF
− OpEx
−$7.2K −$3.71/SF
NOI
$21.6K $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%
$432,440
Cap Rate 7%
$308,886
Cap Rate 9%
$240,244
Alternative Uses
Best Use
Specialty Retail
$308.9K
$270.3K – $360.4K
NOI $21,622 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$18.26M
$15.97M – $21.30M
NOI $1,277,932 @ 7.0% cap · market cap 426.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49442, MI
45,342
Population
17,759
Households
2.6
Avg Household Size
37
Median Age
11%
College-Educated
87%
High-School Grad
41.0 sq mi
ZIP Area
1,106
Density / Sq Mi
$50,069
Median Household Income
$33,257
Median Earnings
$889
Median Rent
$116,100
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
- Wolf Lake Tavern — 27 S Wolf Lake Rd, Muskegon, MI 49442
Frequently Asked Questions
What type of property is this?
Bar & Pub - Open layout supports dancing, pool leagues, gatherings, and other bar-related activities.
Where is this bar & pub located?
The property is located at 27 S Wolf Lake Road Muskegon, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,944 SF bar property on a 0.34‑acre parcel; Open interior supports dancing, pool leagues, and gatherings; Large parking area for patrons
