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    10085 Us -23 Alpena, MI 49707

    Sponsored
    For Sale
    $425,000

    Established Restaurant w/ 2-Bedroom Home

    Property size:
    3,888 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This exceptional business opportunity presents a well-established restaurant and tavern ideally situated on US-23 between Alpena and Rogers City, Michigan. Boasting a prime location between two major Northern Michigan lakes, this landmark establishment benefits from high year-round traffic, with an Average Daily Traffic count of 5,845 vehicles on US-23. Its strategic position near Grand Lake Road, a key route connecting Presque Isle and Alpena, ensures consistent customer flow. The property enjoys minimal competition, with the nearest bar situated miles away. The spacious interior features a 1,800 sq. ft. dining area accommodating 88 guests, complete with booths, tables, and a 50-foot bar. A fully equipped kitchen includes a 9' x 7' walk-in cooler and freezer, a 330 sq. ft. prep area, automatic dishwasher, and server workstation. A large 28' x 8' walk-in/reach-in cooler is conveniently located behind the bar. The basement offers over 1,000 sq. ft. of storage and houses mechanical systems. Separate restrooms are provided. The property also includes a 2-bedroom, 1-bathroom home, ideal for owner occupancy or management. Ample parking is available for over 35 vehicles, with dual access points from US-23 and Grand Lake Road. The fire department capacity is 250 people. This turnkey operation is priced at $425,000.

    Property Features for 10085 Us -23

    General Information

    Property type
    Investment properties
    Square Feet
    3,888 SF
    Lot Size
    87,120 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Storage Facility Bar & Pub Garden Center Electrical Service Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Alpena
    County
    Alpena
    State
    Michigan
    Longitude
    -83.4347
    Latitude
    45.19377

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    FAQs

    What type of property is this?
    Investment property - Established Restaurant w/ 2-Bedroom Home
    Where is this investment property located?
    The property is located at 10085 Us -23 Alpena, MI.
    What is the asking price?
    The asking price for this property is $425,000.
    (989) 884-1294
    Request Owner's contact information
    10085 Us -23 Alpena, MI 49707
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10085 Us -23 Alpena, MI 49707
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