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    410 Ontario Street De Tour Village, MI 49725

    View on Map
    For Sale
    $265,000

    COMMERCIAL - De Tour Village, MI

    Property size:
    2,187 SF
    Added:
    Nov 4, 2025
    Days on Market:
    149
    Last Refresh:
    Apr 2 at 12:06 am

    Property Features for 410 Ontario Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Basement
    Crawl Space
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    041-760-086-00
    Size
    2,187 SF

    Taxes and HOA fees

    TaxDescription
    SEC 34 & 35 T42N R4E Supervisors Plat 1 of DeTour lot 36 plus 1/2 of vacated E-W Alley.

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Nicholas Fairchild

    Listing agent Nicholas Fairchild

    Listing office Real Broker, LLC 250 Monroe Ave NW Suite 400, Grand Rapids, MI

    Listing date Nov 4, 2025

    MLS# 201837874

    Copyright © 2026 Water Wonderland 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.

    Overview

    Established Restaurant & Saloon For Sale

    The Mainsail Restaurant & Saloon is available for purchase. This established business is located near the DeTour to Drummond Island Ferry and Marina, benefiting from high auto traffic and maximum visibility. The restaurant features knotty pine decor and nautical-themed artwork, creating a unique atmosphere. The turnkey sale includes the real estate, buildings, all food and alcohol inventory, furnishings, and a Resort Class C Liquor License. The property size is 2187 square feet. The property is zoned commercial and is located in De Tour Village, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mainsail Restaurant Bar & Pub

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Hotel & Motel Department Store Food Market Grocery & Convenience Store Bar & Pub Discount Store Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    De Tour Village
    County
    Chippewa
    State
    Michigan
    Longitude
    -83.902148
    Latitude
    45.996349

    Nearby Similar for Sale

    • $279,000
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      Thriving Business with Apartments

      Updated business in De Tour Village with on-site apartments.
      168 S Ontario ST, De Tour Village, MI 49725
      View Details
    • $279,000
      2,950 SF

      Turnkey Bistro in De Tour

      Thriving bistro business and property for sale in De Tour.
      168 S Ontario ST, De Tour Village, MI 49725
      View Details
    • $279,000
      2,950 SF

      Turnkey Bistro with Two Apartments

      Thriving bistro with two apartments in De Tour Village, MI.
      168 S Ontario Street, De Tour Village, MI 49725
      View Details
    • $2,995,000
      4,606 SF

      Private Island with Historic Lighthouse

      Unique 13.56-acre island with lighthouse, keeper's house, and harbor.
      21500 S Pipe Island, De Tour Village, MI 49725
      View Details

    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant and saloon with real estate and liquor license.
    Where is this restaurant located?
    The property is located at 410 Ontario Street De Tour Village, MI.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: Prime location near the DeTour to Drummond Island Ferry and Marina with high traffic and visibility.; Turnkey business sale including real estate, buildings, food and alcohol inventory, and furnishings.; Includes a Resort Class C Liquor License.
    (906) 203-0420
    We can help!
    Listing Contact
    Nicholas Fairchild
    Learn More
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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
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