Long-Standing Restaurant
For Sale
$474,000
370 N State Street, Sparta, MI 49345
COMMERCIAL - Sparta, MI
Property Size1,374 SF
Lot Size0.51 Acres
Price / SF$344.98
Days on Market963
Property Features for 370 N State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Sparta
Middle school district
Sparta
High school district
Sparta
Directions
Alpine to Sparta Ave. North to Mark St. Sign on Main Road. Corner of Mark St. and Sparta Ave.
Subdivision
Grand Rapids - G
Standard status
Active
APN
41-05-14-301-002
Size
1,374 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
COM 596 FT W OF NW COR OF MI LL & MARK STS TH N TO S LINE O F GT RR R/W TH W TO W LINE OF SEC TH S TO N LINE OF MA
Tax Annual Amount
3063
Legal Description
COM 596 FT W OF NW COR OF MI LL & MARK STS TH N TO S LINE O F GT RR R/W TH W TO W LINE OF SEC TH S TO N LINE OF MA
Utilities
Heating system
Forced Air
Cooling system
Central Air, Wall Unit(s)
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Eggerding Inc., Arthur K.
(616) 453-7655
Listed By:
Brynadette Powell · License #6501358745
(616) 835-2624
Added: Dec 11, 2023
Changed: Jul 25
Last Checked: Jul 31 at 9:06AM
MLS# 23144570
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 is a long-standing restaurant property in Sparta, Michigan, offered with the included equipment and the revered business name. The restaurant has been under the same dedicated ownership for over 20 years, presenting a turn-key opportunity to continue the established legacy.
The property is located at 370 N State Street, Sparta, MI 49345. The seller reports new flooring was installed on 11/24/25, and a possible land contract is available for qualified buyers.
Additional details include a lot size of 0.51 acres and an approximate building size of 1,374 square feet. Inquire for more information on the offering and financing terms.
The property is located at 370 N State Street, Sparta, MI 49345. The seller reports new flooring was installed on 11/24/25, and a possible land contract is available for qualified buyers.
Additional details include a lot size of 0.51 acres and an approximate building size of 1,374 square feet. Inquire for more information on the offering and financing terms.
Key Highlights
- Established restaurant with over 20 years of dedicated ownership.
- Includes all equipment and the business's name.
- Strong local roots and cherished by the military community.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $15.48 |
| − Vacancy | −$893 | −$0.65 |
| EGI | $20.4k | $14.83 |
| − OpEx | −$5.1k | −$3.71 |
| NOI | $15.3k | $11.12 |
1,374 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.7K
$215.0K – $286.7K
NOI $17,202 @ 7.0% cap · market cap 3.63%
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
249
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49345, MI
13,734
Population
5,074
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
263
Density / Sq Mi
$84,918
Median Household Income
$44,051
Median Earnings
$968
Median Rent
$261,400
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant for sale includes equipment and the business name, with new flooring installed on 11/24/25.
Where is this conventional restaurant located?
The property is located at 370 N State Street Sparta, MI.
What is the asking price?
The asking price for this property is $474,000.
What are key features of this property?
This property features: Established restaurant with over 20 years of dedicated ownership.; Includes all equipment and the business's name.; Strong local roots and cherished by the military community.
