Restaurant with Dedicated Dining
New
For Sale
$620,000
1002 S Main Street, Adrian, MI 49221
Commercial Sale, Adrian, MI
Property Size2,891 SF
Lot Size0.61 Acres
Price / SF$214.46
Days on Market5
Property Features for 1002 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Elementary school district
Madison
Middle school district
Madison
High school district
Madison
Standard status
Active
APN
XA0-100-0343-02
Size
2,891 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BEG 50 FT W & 1822 FT S FR NE COR SEC 10 T7S R3E TH W 193 FT TH S 136.79 FT TH E 193 FT TH N 136.79 FT TO POB
Tax Annual Amount
13309
Legal Description
BEG 50 FT W & 1822 FT S FR NE COR SEC 10 T7S R3E TH W 193 FT TH S 136.79 FT TH E 193 FT TH N 136.79 FT TO POB
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1974
Floors in Building
1
Number of units
1
Building materials
Brick, Stone
Listing Agency:
RE/MAX Irish Hills Realty
(517) 467-3003
Listed By:
Mark Riggle · License #6501168133
(517) 547-3340
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 5 at 11:06PM
MLS# 26052686
Copyright © 2026 Michigan Regional Information Center, LLC. 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 restaurant property contains 2,891 square feet on a 0.61-acre parcel. The dining room accommodates approximately 90 guests, with parking for more than 40 vehicles. Brick and stone construction dates to 1974; the building has forced-air heat and central air conditioning. The interior is described as recently finished and well maintained.
At 1002 S Main Street in Adrian, the property is near shopping, hotels, and colleges. The restaurant has been family-operated since 2001, with an established customer base.
At 1002 S Main Street in Adrian, the property is near shopping, hotels, and colleges. The restaurant has been family-operated since 2001, with an established customer base.
Key Highlights
- 2,891‑square‑foot restaurant on 0.61 acres
- Dining area seating for approximately 90 guests
- On‑site parking for more than 40 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,155
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,100
$643.1K
Cap Rate 7%
$459,357
$459.4K
Cap Rate 9%
$357,278
$357.3K
Market Conditions
NOI Build-Up for 2,891 SF
Gross rent
$44.8K $15.48/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$42.9K $14.83/SF
− OpEx
−$10.7K −$3.71/SF
NOI
$32.2K $11.12/SF
Area
Lenawee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,100
Cap Rate 7%
$459,357
Cap Rate 9%
$357,278
Alternative Uses
Best Use
Specialty Retail
$459.4K
$401.9K – $535.9K
NOI $32,155 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$35.87M
$31.38M – $41.85M
NOI $2,510,778 @ 7.0% cap · market cap 404.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
138k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Dining 28%
Home Improvements & Furnishings 23%
Superstores 13%
Big Lots
Superstores
17,958 visits/mo
0.5 miles
Tractor Supply Co.
Home Improvements & Furnishings
13,875 visits/mo
0.5 miles
Dollar General
Shops & Services
13,343 visits/mo
0.2 miles
Shell
Shops & Services
11,059 visits/mo
0.4 miles
Family Farm & Home
Home Improvements & Furnishings
9,803 visits/mo
0.4 miles
Demographics for 49221, MI
41,315
Population
17,011
Households
2.4
Avg Household Size
39
Median Age
22%
College-Educated
88%
High-School Grad
119.9 sq mi
ZIP Area
345
Density / Sq Mi
$57,316
Median Household Income
$32,289
Median Earnings
$986
Median Rent
$158,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Asian Buffet — 1374 S Main St, Adrian, MI 49221
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A long-running restaurant operation features a customer dining area and on-site vehicle parking.
Where is this conventional restaurant located?
The property is located at 1002 S Main Street Adrian, MI.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 2,891‑square‑foot restaurant on 0.61 acres; Dining area seating for approximately 90 guests; On‑site parking for more than 40 vehicles
