Building Details

Building Size 2,400 SF

Listing Agency: Show Phone

Listed By: Bailey Millikin

Source: Graylingrealestate

Added: Oct 19 Changed: Oct 29 Last Checked: Oct 28 at 3:02PM

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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 Bailey Millikin

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Investment Insights

Based on property information with market context.

This 2,400-square-foot bar and restaurant includes an open dining room, a 10-seat bar, a dance floor, a kitchen, a walk-in cooler, two bathrooms, and a food storage shed. The outdoor area is fenced. Equipment is included in the sale. Recent work includes a new sign, fresh paint, a backup generator, replacement floor joists in the walk-in cooler, and a new stove; the compressor is 6 years old. The property is zoned B-2.

The Belle Iron Trail runs behind the property, with trail access and Township bike parking next door. The surrounding area is popular for motorcycle, snowmobile, and ATV activity, with state land nearby.

Key Highlights

• Open dining area, 10‑seat bar, dance floor, kitchen, walk‑in cooler and two bathrooms
• Fenced patio and food storage shed
• 2,400 square feet; B‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,694

Cap Rate

5.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$533,880 $533.9K

Cap Rate 7%

$381,343 $381.3K

Cap Rate 9%

$296,600 $296.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$37.2K $15.48/SF

− Vacancy

−$1.6K −$0.65/SF

EGI

$35.6K $14.83/SF

− OpEx

−$8.9K −$3.71/SF

NOI

$26.7K $11.12/SF

Area

Otsego 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%

$533,880

Cap Rate 7%

$381,343

Cap Rate 9%

$296,600

Alternative Uses

Best Use

Specialty Retail

$381.3K

$333.7K – $444.9K (±1% cap)

NOI $26,694 @ 7.0% cap · market cap 5.56%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$3.29M

$2.88M – $3.84M (±1% cap)

NOI $230,112 @ 7.0% cap · market cap 47.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

The Keg Bar & Grill Restaurant

Suggested Use

Top Pick Plumbing Service Storage Facility Garden Center Carpet & Flooring Store Dental Office Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49735, MI

20,568

Population

11,551

Households

1.8

Avg Household Size

44

Median Age

27%

College-Educated

94%

High-School Grad

248.6 sq mi

ZIP Area

83

Density / Sq Mi

$69,050

Median Household Income

$39,813

Median Earnings

$876

Median Rent

$200,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• The Keg Bar & Grill — 10530 Old US Hwy 27 S, Gaylord, MI 49735

Frequently Asked Questions

What type of property is this?

Bar & Pub - B-2-zoned property pairs dining and food service with nearby access to a recreational trail.

Where is this bar & pub located?

The property is located at 10530 Old Us Highway 27 Gaylord, MI.

What is the asking price?

The asking price for this property is $480,000.

What are key features of this property?

This property features: Open dining area, 10‑seat bar, dance floor, kitchen, walk‑in cooler and two bathrooms; Fenced patio and food storage shed; 2,400 square feet; B‑2 zoning