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    9074 L Cornell, MI 49818

    Sponsored
    For Sale
    $205,000

    1 to 4 Units,Investment - Cornell, MI

    Property size:
    3,100 SF
    Lot size:
    6.35 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 18 at 2:06 pm

    Property Features for 9074 L

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    005-009-010-10
    Parking features
    Off Street, Parking Lot
    Patio and Porch features
    Patio, Deck
    Interior features
    Restroom(s), Security Syetem Owned
    Exterior features
    Deck/Patio, Fence Owned, Fenced Yard
    Fencing
    Fenced
    Size
    3,100 SF
    Lot size
    6.35 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Exhaust Fan (Cooling)

    Building Details

    Year built
    1981
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    JAMIE BEAVER

    Key Realty Delta County (906) 233-7455 [email protected]

    Listing agent JAMIE BEAVER (906) 233-7455 License #6502370675

    Listing date Jan 14, 2026

    MLS# 50197251 Listing URL

    Copyright © 2026 Upper Peninsula Association 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.

    Learn more

    Property Insight Report

    Overview

    Established Tavern - Turnkey Business

    This established tavern, a turnkey business opportunity, has served the community for over 40 years. Situated on a main county road in a rural area, the property benefits from high visibility, accessibility, and a loyal customer base throughout the year. Currently operating as a full-service bar and restaurant, it attracts consistent traffic from locals and seasonal visitors, including hunters, snowmobilers, bikers, and outdoor enthusiasts. The property features indoor and outdoor liquor licensing, along with food service and lottery licenses, providing multiple revenue streams. The outdoor space offers potential for expansion with summer cornhole leagues, special events, and outdoor dining. The interior layout is suitable for live music, private parties, and themed nights. Dart and pool leagues could provide consistent weekly activity. The property, with a building size of 3100 square feet and a lot size of 6.35 acres, is zoned commercial. It is located in Cornell, MI, in Delta County. This property is more than just a bar; it is a community hub with room to grow, offering potential for the next chapter of ownership.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Map

    City
    Cornell
    County
    Marquette
    State
    Michigan
    Longitude
    -87.155372
    Latitude
    45.875824

    FAQs

    What type of property is this?
    Bar - Well-known bar and restaurant with 40+ years of service.
    Where is this bar located?
    The property is located at 9074 L Cornell, MI.
    What is the asking price?
    The asking price for this property is $205,000.
    What are key features of this property?
    This property features: - Turnkey business opportunity with a 40+ year history and loyal customer base.; - Valuable indoor and outdoor liquor licenses, food service, and lottery licenses provide multiple revenue streams.; - Strong visibility and easy access on a main county road in a rural setting.
    (906) 233-7455
    Request Owner's contact information
    9074 L Cornell, MI 49818
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    Cornell, MI 49818
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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
    9074 L Cornell, MI 49818
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    We can help!
    Listing Contact
    JAMIE BEAVER
    Real Estate License ID: 6502370675
    (906) 233-7455
    Learn more
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