Brewery with Covered
For Sale
$595,000
6352 N Lake Shore Drive, Harbor Springs, MI 49740
Commercial/Industrial, Harbor Springs, MI
Property Size3,797 SF
Lot Size1.52 Acres
Price / SF$156.70
Days on Market166
Property Features for 6352 N Lake Shore Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
EC B2
Elementary school district
Harbor Springs
Middle school district
Harbor Springs
High school district
Harbor Springs
Directions
North on State Road, right on N. Lake Shore. Building on right.
Subdivision
Cross Village
Standard status
Active
APN
05-04-33-427-007
Size
3,797 SF
Lot size
1.52 Acres
Taxes and HOA fees
Tax Description
ORIGINAL PLAT OF VILLAGE OF CROSS, (COMMONLY KNOWN AS CROSS VILLAGE), BLK 7, LOTS 1 THRU 5 & 7, 8 &
Legal Description
ORIGINAL PLAT OF VILLAGE OF CROSS, (COMMONLY KNOWN AS CROSS VILLAGE), BLK 7, LOTS 1 THRU 5 & 7, 8 &
Utilities
Heating system
Natural Gas, Forced Air
Water source
Well
Amenities
office/conference room
extra prep kitchen
Building Details
Building materials
Wood Frame
Listing Agency:
Graham Real Estate
(231) 526-6251
Listed By:
Kevin Olson
(231) 881-7303
Added: Mar 28
Changed: Aug 19
Last Checked: Sep 9 at 9:06PM
MLS# 475893
Copyright © 2026 Northern Michigan MLS. 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.
This brewery restaurant occupies a 3797-square-foot wood-frame building on a 1.52-acre lot. The layout includes an indoor dining room, a covered outdoor bar and dining area, an upper-level office and conference room with a full bathroom, plus basement space suited to prep-kitchen and storage functions. The property is currently operating as a brewery restaurant.
Building systems include natural gas and forced-air heat, while water is supplied by a well. EC B2 zoning is identified for the property. The combination of dining, service, office, preparation, and storage areas provides a varied commercial configuration within the existing improvement.
Building systems include natural gas and forced-air heat, while water is supplied by a well. EC B2 zoning is identified for the property. The combination of dining, service, office, preparation, and storage areas provides a varied commercial configuration within the existing improvement.
Key Highlights
- Current brewery restaurant operation
- 3797 square feet on 1.52 acres
- Covered outdoor bar and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,536
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$990,720
$990.7K
Cap Rate 7%
$707,657
$707.7K
Cap Rate 9%
$550,400
$550.4K
Market Conditions
NOI Build-Up for 3,797 SF
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.
Gross rent
$76.1K $20.04/SF
− Vacancy
−$5.3K −$1.40/SF
EGI
$70.8K $18.64/SF
− OpEx
−$21.2K −$5.59/SF
NOI
$49.5K $13.05/SF
Area
Emmet County, MI
Vacancy
7.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$990,720
Cap Rate 7%
$707,657
Cap Rate 9%
$550,400
Alternative Uses
Best Use
Industrial
$707.7K
$619.2K – $825.6K
NOI $49,536 @ 7.0% cap · market cap 8.33%
Second Best
Specialty Retail
$458.9K
$401.5K – $535.4K
NOI $32,123 @ 7.0% cap · market cap 5.40%
Theoretical Best
Warehouse
$859.3K
$751.9K – $1.00M
NOI $60,151 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 49740, MI
7,511
Population
6,057
Households
1.2
Avg Household Size
55
Median Age
46%
College-Educated
97%
High-School Grad
124.9 sq mi
ZIP Area
60
Density / Sq Mi
$85,230
Median Household Income
$38,820
Median Earnings
$997
Median Rent
$332,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Includes indoor dining, a covered outdoor bar and dining area, upper-level offices, and basement storage space.
Where is this brewery located?
The property is located at 6352 N Lake Shore Drive Harbor Springs, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Current brewery restaurant operation; 3797 square feet on 1.52 acres; Covered outdoor bar and dining area
