Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Restaurant Opportunity Title is generated by Realmo AI

    4586 Water Street, Columbiaville, MI 48421

    View on Map
    Claim this Listing
    For Sale
    $249,900

    Real Estate Only - Columbiaville, MI

    Property size:
    2,250 SF
    Lot size:
    0.88 Acres
    Price / SF:
    $111/SF
    Added:
    Feb 12, 2026
    Days on Market:
    98
    Last Refresh:
    May 21 at 7:06 am

    Property Features for 4586 Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    04335201000
    Size
    2,250 SF
    Lot size
    0.88 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1799.03

    Utilities

    Heating system
    Central
    Water front features
    River Access, River Front, Flint River, Waterfront
    Water front
    1

    Building Details

    Year built
    1970
    Floors in Building
    1
    Building materials
    Brick, Brick Veneer, Metal Siding
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Zach Soccorsi

    Listing agent Zach Soccorsi

    Listing office EXP Z Real Estate 40020 W 12 Mile Rd, MI

    Listing date Feb 12, 2026

    MLS# 20261008891 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Three waterfront lots on Holloway Reservoir at the Flint River confluence.
    • Currently operating as a fully functional restaurant with a built‑out commercial kitchen.
    • Recent upgrades: new flat roof (Jan 2025), steel siding (2023), and brick front (2023).
    • Located at the trailhead of the Southern Links Trailway, offering strong visibility.
    • Versatile property suitable for business or residential use.
    • Includes a new commercial on‑demand water heater, ice machine, and dishwasher.

    Overview

    This offering presents a rare opportunity to acquire three waterfront lots situated where the Holloway Reservoir converges with the Flint River, located in Columbiaville. These parcels, being sold together, provide a unique setting with water frontage and flexibility for future development. The property currently operates as a family-owned restaurant, featuring a well-maintained 2,250 square-foot building with indoor seating, an outdoor patio, and a fully equipped commercial kitchen. Recent upgrades include a new flat roof installed in January 2025 at a cost of $74,000, steel siding (2023), a brick front (2023), and new flooring (2019). The property also features a new commercial on-demand water heater, ice machine, and dishwasher. The equipment is negotiable. Encompassing 0.88 acres, this location is positioned at the trailhead of the Southern Links Trailway, offering high visibility and a waterfront setting. The building is suited for most any business, or the perfect site to build your dream home on the water. The property is zoned commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Food Market HVAC Service Grocery & Convenience Store

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

    Similar Places Nearby

    • Falcon's Nest Family Dining — #4586, Columbiaville, MI 48421

    Location Insight

    • Map
    • Local Demand
    City
    Columbiaville
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.409676
    Latitude
    43.158054

    Nearby Similar for Sale

    • $599,900
      9,000 SF

      Historic Building in Downtown Columbiaville

      Restored historic building with modern upgrades and business growth potential.
      4654 WATER Street, Columbiaville, MI 48421
      View Details
    • $375,000
      2,200 SF

      Country Estate with Two Homes

      10-acre estate featuring two homes and a pole barn.
      494 W Barnes Lake, Columbiaville, MI 48421
      View Details
    • $159,900
      1,404 SF

      USPS Leased Commercial Property

      Commercial investment property leased to the United States Postal Service.
      4643 Pine Street, Columbiaville, MI 48421
      View Details
    • $599,900
      9,000 SF

      Restored Historic Building in Columbiaville

      Historic building with modern upgrades, ideal for business or investment.
      4654 WATER St, Columbiaville, MI 48421
      View Details
    • $395,000

      Unique Estate with River Frontage

      10-acre estate featuring two homes and a pole barn.
      494 W Barnes Lake Rd, DeerfieldTownship_Lapeer, MI 48421
      View Details
    • $159,900

      USPS Leased Commercial Property

      Commercial investment property leased to the United States Postal Service.
      4643 Pine St, Columbiaville, MI 48421
      View Details
    • $1,080,000
      36,000 SF

      Waterfront Warehouse Property For Sale

      36,000 SF warehouse on 2.02 acres of waterfront property.
      4820 River St, Columbiaville, MI
      View Details
    • $1,080,000
      36,000 SF

      Industrial Building on 2 Acres

      36,000 SF industrial building with waterfront and ample parking.
      4820 River St, Columbiaville, MI 48421
      View Details

    FAQs

    What type of property is this?
    Restaurant - Three waterfront lots with a fully functional restaurant for sale.
    Where is this restaurant located?
    The property is located at 4586 Water Street Columbiaville, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Three waterfront lots on Holloway Reservoir at the Flint River confluence.; Currently operating as a fully functional restaurant with a **built‑out commercial kitchen**.; Recent upgrades: **new flat roof (Jan 2025), steel siding (2023), and brick front (2023)**.
    (248) 937-1337
    We can help!
    Listing Contact
    Zach Soccorsi
    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

    Thank You for Inquiry
    4586 Water Street, Columbiaville, MI 48421
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!