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    Turn-Key Restaurant and Bar Title is generated by Realmo AI

    101 W Saint Joseph Street, Lawrence, MI 49064

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    Claim this Listing
    New
    For Sale
    $499,900

    COMMERCIAL - Lawrence, MI

    Property size:
    5,952 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $83/SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 11:06 am

    Property Features for 101 W Saint Joseph Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    5
    Rooms
    Bathroom 4, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Basement
    Parking
    25
    Standard status
    Active
    APN
    80-44-349-006-20
    Size
    5,952 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Attatched
    Tax Annual Amount
    1700

    Utilities

    Utilities
    Phone Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Number of units
    1
    Building materials
    Wood Siding, Brick

    We can help!

    Listing Contact
    Nicholas Stegman

    Listing agent Nicholas Stegman

    Listing office RE/MAX Lakeshore 250 Broadway Suite 1, South Haven, MI

    Listing date Jun 5, 2026

    MLS# 26027525

    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.

    HighLights

    • Includes sale of liquor license plus bar and kitchen equipment, inventory, and furnishings for restaurant/bar operations.
    • Town's only Class C liquor license included with the sale.
    • Recent updates include new furnace and central air, updated electrical and plumbing, and new windows.
    • Kitchen improvements include quality equipment and functional upgrades.
    • Sound system upgraded and custom bar top installed, along with a modern touchscreen POS system.

    Overview

    This turn-key restaurant and bar sale includes the operating business and the assets needed for day-one service: liquor license, bar and kitchen equipment, inventory, and furnishings. The space is set up with a spacious bar and a comfortable dining area, supported by an improved kitchen package. Recent owner investments include new furnace and central air systems, updated electrical and plumbing, new windows, and upgrades to the sound system. Additional interior improvements include a custom bar top and a modern touchscreen POS system.

    The property is located at 101 W St Joseph in Lawrence, Michigan 49064, in Van Buren County. Public remarks describe it as being in the heart of downtown Lawrence, aligning with a street-level retail setting that supports walk-in and local patronage.

    For buyers seeking an operational restaurant and bar rather than a ground-up buildout, this offering emphasizes completeness and continuity. The inclusion of the Class C liquor license and the listed equipment and furnishings are intended to streamline the transition for an incoming owner, while the mechanical and systems updates can help reduce near-term capital planning tied to HVAC and core building services.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Van Buren
    State
    Michigan
    Longitude
    -86.051666
    Latitude
    42.218939

    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Conventional restaurant - Move-in ready restaurant and bar with updated HVAC, electrical and plumbing, and an included Class C liquor license.
    Where is this conventional restaurant located?
    The property is located at 101 W Saint Joseph Street Lawrence, MI.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Includes sale of liquor license plus bar and kitchen equipment, inventory, and furnishings for restaurant/bar operations.; Town's only Class C liquor license included with the sale.; Recent updates include new furnace and central air, updated electrical and plumbing, and new windows.
    (269) 214-6594
    We can help!
    Listing Contact
    Nicholas Stegman
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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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