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    Lakefront Bar/Restaurant Opportunity Title is generated by Realmo AI

    7707 Dyke, Fair Haven, MI 48023

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    Claim this Listing
    For Sale
    Under Contract
    $795,000

    Commercial/Industrial - Fair Haven, MI

    Property size:
    1,405 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $565/SF
    Added:
    Dec 17, 2025
    Days on Market:
    156
    Last Refresh:
    May 22 at 12:06 pm

    Property Features for 7707 Dyke

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Patio and Porch features
    Patio, Deck
    Interior features
    Carpet, Public Restrooms, Restroom(s)
    Exterior features
    Deck/Patio
    Dock
    1
    Standard status
    Active Under Contract
    APN
    23-220-0001-000
    Size
    1,405 SF
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9813.47

    Utilities

    Water front features
    Lake Frontage, All Sports Lake, Waterfront, Waterfront
    Water front
    1

    Building Details

    Flooring type
    Carpet
    Architectural style
    Other

    We can help!

    Listing Contact
    Maria McGuire
    Maria McGuire

    Listing agent Maria McGuire License #6504242665

    Listing office RE/MAX Advisors 34350 23 Mile Rd, New Baltimore, MI

    Listing date Dec 17, 2025

    MLS# 50196272 Listing URL

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Iconic lakefront bar/restaurant with a 50‑year history and strong local tradition.
    • Enjoy an impressive 184' of lake frontage featuring a steel seawall and boat dockage.
    • Home of the famous Raft Burger and Minnow Fest.
    • Large yard for summer activities including an enclosed Tiki bar by the water.
    • First right of refusal on adjacent 49' canal lot.
    • Waterfront on an All Sports Lake.

    Overview

    This is an opportunity to own a lakefront bar and restaurant, a community staple for decades. The property, family-owned and operated for 50 years, is known as the home of the Raft Burger and Minnow Fest. It features 184 feet of lake frontage, a steel seawall, boat dockage for customers, and a large yard with an enclosed Tiki bar by the water. The property size is 1405 square feet, situated on a lot of 0.74 acres. The buyer receives the first right of refusal on the adjacent canal lot, offering an additional 49 feet of water frontage. The property is located in Fair Haven, MI, and is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Real Estate Agency Building Supply Auto Repair Shop Auto Parts Store Hotel & Motel Storage Facility Bar & Pub Garden Center Electronics & Wireless Store

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

    Similar Places Nearby

    • The Raft — Ira, 7707 Dyke Rd, Ira Township, MI 48023
    • On the ROCKS. Smoke House & Tiki Bar — 7479 Dyke Rd, Clay Township, MI 48001
    • On the ROCKS Tiki Bar and Grille — Dyke Rd, Algonac, MI 48001
    • Off The Hook Sports Grill — 8094 Dixie Hwy, Ira Township, MI 48023

    Location Insight

    • Map
    • Local Demand
    City
    Fair Haven
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.622795
    Latitude
    42.67086

    Nearby Similar for Sale

    • $475,000
      3,571 SF

      Fair Haven Commercial Property on M-29

      1.4 acres with updated buildings, parking, and flexible zoning.
      8622 Dixie, Fair Haven, MI 48023
      View Details
    • $500,000
      3,571 SF

      Fair Haven Commercial Property on M-29

      1.4 acres with updated buildings, parking, and flexible zoning.
      8622 Dixie Hwy, IraTownship_StClair, MI 48023
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Beloved lakefront bar/restaurant with strong local tradition.
    Where is this bar & pub located?
    The property is located at 7707 Dyke Fair Haven, MI.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Iconic lakefront bar/restaurant with a 50‑year history and strong local tradition.; Enjoy an impressive 184' of lake frontage featuring a steel seawall and boat dockage.; Home of the famous Raft Burger and Minnow Fest.
    (586) 996-4059
    We can help!
    Listing Contact
    Maria McGuire
    Maria McGuire
    Real Estate License ID: 6504242665
    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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