Restaurant and Bar with Dance
For Sale
$990,000
100 Cliff Street, Negaunee, MI 49866
Commercial restaurant with a full bar, takeout window, entertainment areas, and on-site parking.
Property Size5,295 SF
Days on Market135
Property Features for 100 Cliff Street
General Information
Standard status
Active
Size
5,295 SF
Property subtype
Business Opportunities
Zoning
Commercial
Building Details
Building Size
5,295 SF
Year Built
1972
Listing Agency:
RE/MAX
Listed By:
Fran Sevegney · License #6502420591
(906) 232-1206
Source:
Remaxcommercial
Added: Jun 3
Changed: Oct 10
Last Checked: Oct 14 at 7:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX
Investment Insights
Based on property information with market context.
Built in 1972, this commercial restaurant includes a full bar, dining and entertainment areas, a raised lighted dance floor, a lower dance floor, and a DJ booth sound-and-lighting system. The venue accommodates up to 225 guests and includes 4 pool tables, a dart machine, and space for additional games. A drive-up takeout window supports off-premises service, while on-site parking accommodates event traffic.
The property is located at 100 Cliff Street in Negaunee, Michigan, one block from the highway. It is zoned Commercial and currently operates Tuesday through Saturday from 4pm to 9pm. The facility has hosted receptions, parties, reunions, live music, comedy performances, and benefit events, with pool leagues representing the establishment through three teams.
The property is located at 100 Cliff Street in Negaunee, Michigan, one block from the highway. It is zoned Commercial and currently operates Tuesday through Saturday from 4pm to 9pm. The facility has hosted receptions, parties, reunions, live music, comedy performances, and benefit events, with pool leagues representing the establishment through three teams.
Key Highlights
- Restaurant and bar with seating for up to 225 guests
- Two dance floors, including one raised and lighted floor
- 4 pool tables, dart machine, and DJ booth sound system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,337
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,740
$1.5M
Cap Rate 7%
$1,047,671
$1.0M
Cap Rate 9%
$814,856
$814.9K
Market Conditions
NOI Build-Up for 5,295 SF
Gross rent
$100.4K $18.96/SF
− Vacancy
−$2.6K −$0.49/SF
EGI
$97.8K $18.47/SF
− OpEx
−$24.4K −$4.62/SF
NOI
$73.3K $13.85/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,740
Cap Rate 7%
$1,047,671
Cap Rate 9%
$814,856
Alternative Uses
Best Use
Specialty Retail
$1.05M
$916.7K – $1.22M
NOI $73,337 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,162 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
49k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 39%
Dining 4%
Super One Foods
Groceries
18,859 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
17,880 visits/mo
0.2 miles
Dollar General
Shops & Services
6,091 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
2,692 visits/mo
0.3 miles
SUBWAY
Dining
1,986 visits/mo
0.3 miles
Demographics for 49866, MI
8,259
Population
3,723
Households
2.2
Avg Household Size
41
Median Age
34%
College-Educated
96%
High-School Grad
201.3 sq mi
ZIP Area
41
Density / Sq Mi
$83,433
Median Household Income
$47,467
Median Earnings
$900
Median Rent
$191,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial restaurant with a full bar, takeout window, entertainment areas, and on-site parking.
Where is this conventional restaurant located?
The property is located at 100 Cliff Street Negaunee, MI.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Restaurant and bar with seating for up to 225 guests; Two dance floors, including one raised and lighted floor; 4 pool tables, dart machine, and DJ booth sound system
