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    Waterfront Bar & Restaurant Opportunity Title is generated by Realmo AI

    9724 Pearl Beach, Clay, MI 48001

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    For Sale
    $325,000

    Commercial/Industrial - Clay, MI

    Property size:
    4,400 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $73/SF
    Added:
    Mar 16, 2026
    Days on Market:
    67
    Last Refresh:
    May 21 at 8:06 am

    Property Features for 9724 Pearl Beach

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Patio and Porch features
    Patio, Deck
    Interior features
    Bath, Cafe/Kitchen, No Elevator, Wood Floors
    Exterior features
    Deck/Patio
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    144250044000
    Size
    4,400 SF
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4009

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air
    Water front features
    Lake/River Access, All Sports Lake, Lake/River Access

    Building Details

    Year built
    1900
    Flooring type
    Wood
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Catherine Baker

    Listing agent Catherine Baker License #6501336049

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

    Listing date Mar 16, 2026

    MLS# 50201722 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 waterfront bar and restaurant established in 1937, a unique landmark property.
    • Turnkey business opportunity including real estate, business, liquor license, and all contents.
    • Option to purchase or lease adjacent waterfront lot for expansion.
    • Fully equipped commercial kitchen and seating for 100+ patrons.
    • Spacious 2,000 sq ft apartment with three bedrooms, ideal for owner‑operator or rental income.
    • Located in historic Pearl Beach on The North Channel, next to the public fishing pier, with ample parking and a loyal customer base.

    Overview

    This well-known bar and restaurant, established in 1937, is located in historic Pearl Beach, directly next to the public fishing pier, on The North Channel. The sale includes the business, the real estate, the Johnnie Lega’s name, liquor license, and all contents of the building. The bar features a historic bar top with stools and seating for over 100 patrons. The fully equipped, 23x12 commercial kitchen includes large industrial freezers and refrigerators, fryers, grill, griddle, soup station, an industrial dishwasher, and two walk-in coolers. The 4,400 square foot property offers two restrooms, two furnaces, and two A/C units. Above the bar is a spacious approximately 2,000 sq ft apartment with three bedrooms, ideal for an owner-operator, on-site management, or additional rental income. Situated on a 0.38-acre lot, there is an option to purchase or lease a waterfront lot, offering expansion or future development potential. With ample parking, strong community presence, and a loyal local customer base, this property presents an exceptional business and investment opportunity in a highly desirable recreational corridor along the North Channel. The property is zoned commercial and is located in Clay, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Johnnie Lega's Restaurant ... Bar & Pub BLAA Chimney Fix ... General Contractor

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store Food Market

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

    Similar Places Nearby

    • Johnnie Lega's Restaurant & Tavern — 9724 Pearl Beach Blvd, Algonac, MI 48001
    • Club Capri — 6343 Dyke Rd, Algonac, MI 48001

    Location Insight

    • Map
    • Local Demand
    City
    Clay
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.5982128
    Latitude
    42.6263563

    Nearby Similar for Sale

    • $795,000
      11,067 SF

      Retail Property in Clay, MI

      Retail property available for lease in Clay, Michigan.
      6509 Dyke Rd, Clay, MI
      View Details
    • $495,000
      5,953 SF

      Industrial Property in Clay, MI

      5,953 SF industrial property available for sale.
      1878 Fruit St, Clay, MI
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Iconic bar and restaurant with living quarters for sale.
    Where is this bar & pub located?
    The property is located at 9724 Pearl Beach Clay, MI.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Iconic waterfront bar and restaurant established in 1937, a unique landmark property.; Turnkey business opportunity including real estate, business, liquor license, and all contents.; Option to purchase or lease adjacent waterfront lot for expansion.
    (586) 805-8511
    We can help!
    Listing Contact
    Catherine Baker
    Real Estate License ID: 6501336049
    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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