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    Three Rivers Restaurant Opportunity Title is generated by Realmo AI

    59640 County Line Road, Three Rivers, MI 49093

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    For Lease
    $12 SF/Yr $6,887/Mo (calc)

    COMMERCIAL - Three Rivers, MI

    Type:Retail
    Property size:
    6,887 SF
    Lot size:
    0.84 Acres
    Added:
    Feb 14, 2026
    Days on Market:
    96
    Last Refresh:
    May 21 at 10:06 am

    Property Features for 59640 County Line Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking
    30
    Parking features
    Driveway
    Fireplace
    1
    Standard status
    Active
    APN
    14-080-024-058-00
    Size
    6,887 SF
    Lot size
    0.84 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LC490-1021 470-661 322B 6-13 SEC 24 T6 R13 BEG AT A PT 701.5 FT S & N 83 DEG 38' W 105.4 FT FROM E 1/4 COR OF SEC 24, TH N 83 DEG 38' W 201.2 FT S 18 DEG 02' W 204.3 FT TO WATER'S EDGE OF HARWOOD LAKE TH S 79 DEG E TO E RT OF WAY OF HWY TH SLY ALONG SD E RT OF WAY TO A PT 70 RDS S OF E 1/4 COR OF SD SEC, TH E TO WATER'S EDGE OF COREY LAKE TH NLY ALONG SHORE OF SD LAKE TO BEG.

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    1955
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Joshua Schirr
    Joshua Schirr

    Listing agent Joshua Schirr License #RB14043732

    Listing office McKinnies Realty 24 Fourth St., Niles, MI

    Listing date Feb 14, 2026

    MLS# 26005526

    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.

    HighLights

    • Prime restaurant location with frontage on both Corey and Harwood Lake.
    • Large restaurant space: 6887 sq ft.
    • Motivated owner offering a deal on the restaurant portion with an introductory rate of $1500/month (subject to business plan approval).
    • Waterfront property (Lake).
    • Includes Central Air and Forced Air heating.
    • Fireplace.

    Overview

    This 6887-square-foot commercial property in Three Rivers, Michigan, presents a leasing opportunity suitable for restaurants and retail. Situated on a 0.84-acre lot, the property has frontage on both Corey and Harwood Lake. The owner is motivated to lease the property before the summer season and is willing to offer a deal on the restaurant portion of the building with an introductory rate if they like your business plan. The property is located at 59640 County Line Road in Cass County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ATM Atm Happy's Landing Restaurant Restaurant

    Suggested Use

    Restaurant Bar & Pub Storage Facility Grocery & Convenience Store Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Three Rivers
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.760735
    Latitude
    41.928032

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    FAQs

    What type of property is this?
    Restaurant - Restaurant space for lease with frontage on two lakes.
    Where is this restaurant located?
    The property is located at 59640 County Line Road Three Rivers, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime restaurant location with frontage on both Corey and Harwood Lake.; Large restaurant space: 6887 sq ft.; Motivated owner offering a deal on the restaurant portion with an introductory rate of $1500/month (subject to business plan approval).
    (574) 606-7771
    We can help!
    Listing Contact
    Joshua Schirr
    Joshua Schirr
    Real Estate License ID: RB14043732
    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.

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