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    5388 Main Street Millersburg, MI 49759

    View on Map
    For Sale
    $425,000

    COMMERCIAL - Millersburg, MI

    Property size:
    4,228 SF
    Added:
    Oct 22, 2025
    Days on Market:
    163
    Last Refresh:
    Apr 2 at 5:06 am

    Property Features for 5388 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    052-130-000-055-00, 056-00, 053-00, 054-00 +
    Size
    4,228 SF

    Taxes and HOA fees

    TaxDescription
    VILLAGE OF MILLERSBURG, BLOCK 10, LOT 7, LOT 8 AND THE S 1/ OF LOT 9.

    Utilities

    Sewer type
    Public Sewer, Septic Tank

    We can help!

    Listing Contact
    Dan O'Hare
    Dan O'Hare

    Listing agent Dan O'Hare License #6506046314

    Listing office Real Estate One Indian River 6220 M-68, Indian River, MI

    Listing date Oct 22, 2025

    MLS# 201837810

    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

    Thriving Bar and Restaurant Opportunity

    Located in Millersburg, Michigan, this commercial property presents a turn-key opportunity to own a thriving bar and restaurant. The establishment, a local favorite and regional destination, has been recognized as one of the Top 10 Snowmobiling Pit Stops in America. The property features a spacious bar area with seating for 50, as well as an axe throwing room with 4 lanes and 32 additional seats, accommodating a total of 80-90 guests. The sale includes all licenses, inventory, fixtures, and equipment. The fully equipped kitchen contains pizza ovens, deep fryers, a char broiler, walk-in freezer and coolers, and ample prep and storage space. The bar is fully stocked and ready to serve, complemented by a custom sound system with built-in DJ and karaoke setup for live music and events, along with a Pool Table. The property has a total size of 4,228 square feet and is zoned for commercial use. This well-established business benefits from loyal patrons and steady tourism traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Three Cedars Restaurant ... Restaurant Millersburg Inn Association Or Organization

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Hotel & Motel Accounting Firm Bar & Pub Bed & Breakfast Restaurant

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

    Similar Places Nearby

    • Three Cedars Restaurant & Clubhouse — 5388 Main St, Millersburg, MI 49759

    Location Insight

    • Map
    • Local Demand
    City
    Millersburg
    County
    Presque Isle
    State
    Michigan
    Longitude
    -84.06045
    Latitude
    45.335984

    FAQs

    What type of property is this?
    Bar & Pub - Turn-key bar and restaurant in Millersburg, Michigan for sale.
    Where is this bar & pub located?
    The property is located at 5388 Main Street Millersburg, MI.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Turn‑key, fully operational bar and restaurant with all licenses, inventory, fixtures, and equipment included.; Designated as a Top 10 Snowmobiling Pit Stop in America by Snow Goer Magazine, attracting regional tourism.; Axe throwing room with 4 lanes and seating for 32, plus a spacious bar area seating 50, accommodating 80‑90 guests.
    (231) 238-2026
    We can help!
    Listing Contact
    Dan O'Hare
    Dan O'Hare
    Real Estate License ID: 6506046314
    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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