Restaurant with Seating for
1002 S Main St Adrian, MI 49221
For Sale
$890,000
COMMERCIAL - Adrian, MI
Property Size3,263 SF
Lot Size0.61 Acres
Price / SF$272.76
Days on Market160
Property Features for 1002 S Main St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- XA0-100-0343-02
- Size
- 3,263 SF
- Lot size
- 0.61 Acres
Taxes and HOA fees
- Tax Annual Amount
- 13120
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1978
- Roof type
- Rubber, Shingle, Flat
Listing Agency:
The Wagley Group
(517) 265-6000
Listed By:
Mark Boff
(717) 951-7541
Added: Feb 17
Changed: Jul 7
Last Checked: Jul 27 at 1:06AM
MLS# 50199571
Copyright © 2026 Lenawee County 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.
Investment Insights
Based on property information with market context.
This for-sale restaurant property includes a dining area that seats approximately 90 customers. The site size is about 0.61 acres, and the building area is listed at 3,263 square feet. Because the property operates as a restaurant, showings are scheduled prior to opening.
The restaurant is positioned in one of the busiest areas in town, with close proximity to shopping, hotels, and colleges. Parking is available for more than 40 vehicles, supporting customer access during peak dining periods.
For an operator or buyer seeking an existing restaurant setup, the property offers a straightforward front-of-house configuration sized around a 90-seat dining room and on-site parking for more than 40 vehicles. The established operating nature of the business should be considered when coordinating visits and planning for transition or continued use.
The restaurant is positioned in one of the busiest areas in town, with close proximity to shopping, hotels, and colleges. Parking is available for more than 40 vehicles, supporting customer access during peak dining periods.
For an operator or buyer seeking an existing restaurant setup, the property offers a straightforward front-of-house configuration sized around a 90-seat dining room and on-site parking for more than 40 vehicles. The established operating nature of the business should be considered when coordinating visits and planning for transition or continued use.
Key Highlights
- Restaurant dining area seats approximately 90 customers
- Parking available for more than 40 vehicles
- Forced air heating with central air conditioning
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.5k | $15.48 |
| − Vacancy | −$2.1k | −$0.65 |
| EGI | $48.4k | $14.83 |
| − OpEx | −$12.1k | −$3.71 |
| NOI | $36.3k | $11.12 |
3,263 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$518.5K
$453.7K – $604.9K
NOI $36,292 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$40.48M
$35.42M – $47.23M
NOI $2,833,853 @ 7.0% cap · market cap 318.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar Off Market Nearby
- Asian Buffet — 1374 S Main St, Adrian, MI 49221
FAQs
What type of property is this?
Conventional restaurant - Restaurant property with a dining room seating about 90 and parking for more than 40 vehicles.
Where is this conventional restaurant located?
The property is located at 1002 S Main St Adrian, MI.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Restaurant dining area seats approximately 90 customers; Parking available for more than 40 vehicles; Forced air heating with central air conditioning
