Turnkey Restaurant with Built-In
107 South Lafayette Street Greenville, MI 48838
For Sale
Contact for pricing
Turnkey restaurant space with full kitchen build-out and multiple walk-in coolers for high-volume service.
Property Size8,715 SF
Price / SF$171.54
Days on Market59
Property Features for 107 South Lafayette Street
General Information
- Standard status
- Active
- Size
- 8,715 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1945
Listing Agency:
Advantage Commercial Real Estate
(616) 774-3500
Listed By:
Mark Ansara · License #MI 6501354465
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 23 at 12:09PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
This well-preserved restaurant space is offered with a true turnkey setup and an operator-ready interior. The layout includes a large seating area, a banquet room, a long bar, multiple installed TVs, and a built-in buffet line designed to support higher-volume service. For quick grab-and-go, there is a take-out window in place. The kitchen is fully built out with multiple hoods, a quality cookline, and multiple walk-in coolers and freezers, along with dedicated office space for management, scheduling, and storage.
Located on the downtown corridor in Greenville, the property is positioned for an operator seeking to serve customers in an entertainment-focused retail environment. The existing front-of-house and back-of-house configuration supports both dine-in and service through the take-out window.
The improvement package and kitchen capacity make the space suitable for a new or expanding food and beverage user, including concepts such as pizza, casual dining, or a sports bar. With the built-in buffet line, bar, and established back-of-house infrastructure already in place, an operator can focus on menu execution and staffing rather than basic equipment and layout.
Located on the downtown corridor in Greenville, the property is positioned for an operator seeking to serve customers in an entertainment-focused retail environment. The existing front-of-house and back-of-house configuration supports both dine-in and service through the take-out window.
The improvement package and kitchen capacity make the space suitable for a new or expanding food and beverage user, including concepts such as pizza, casual dining, or a sports bar. With the built-in buffet line, bar, and established back-of-house infrastructure already in place, an operator can focus on menu execution and staffing rather than basic equipment and layout.
Key Highlights
- Turnkey restaurant space with full kitchen build‑out and multiple walk‑in coolers for high‑volume service
- Dining layout includes large seating areas, banquet room, and a long bar
- Back‑of‑house kitchen includes multiple installed hoods and quality cookline equipment
Financial Insights For Industrial
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 | $194.5k | $22.32 |
| − Vacancy | −$4.7k | −$0.54 |
| EGI | $189.9k | $21.78 |
| − OpEx | −$57.0k | −$6.54 |
| NOI | $132.9k | $15.25 |
8,715 SF · lease $22.32/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.90M
$1.66M – $2.21M
NOI $132,895 @ 7.0% cap · market cap 8.89%
Second Best
Specialty Retail
$1.38M
$1.21M – $1.62M
NOI $96,932 @ 7.0% cap · market cap 6.48%
Theoretical Best
Self Storage
$120.61M
$105.53M – $140.71M
NOI $8,442,737 @ 7.0% cap · market cap 564.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Catering Concepts
Take-out & Catering
Flo's Pizzeria Ristorante ...
Bar & Pub
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant space with full kitchen build-out and multiple walk-in coolers for high-volume service.
Where is this conventional restaurant located?
The property is located at 107 South Lafayette Street Greenville, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Turnkey restaurant space with full kitchen build‑out and multiple walk‑in coolers for high‑volume service; Dining layout includes large seating areas, banquet room, and a long bar; Back‑of‑house kitchen includes multiple installed hoods and quality cookline equipment
