Flushing Bar and Restaurant
For Sale
$850,000
111 E Main Street, Flushing, MI 48433
Turn-key bar and restaurant with Class C liquor license.
Property Size2,600 SF
Price / SF$163.84
Days on Market90
Property Features for 111 E Main Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$3,056
Building Details
Building Size
2,600 SF
Year Built
1890
Listing Agency:
KW Realty Livingston
(586) 443-1618
Listed By:
Brigel Lulaj · License #6501448878
Source:
Buyatthelake
Added: May 27
Changed: Aug 23
Last Checked: Aug 22 at 1:00PM
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 KW Realty Livingston
Investment Insights
Based on property information with market context.
This is an opportunity to own and operate Skip’s Comeback Inn, a bar and restaurant located in Flushing. The sale includes the business, building, Class C liquor license, and all FF&E. The business is veteran-owned and has an established local following. The property is located in the downtown area of Flushing, which is walkable and has high-traffic visibility. The commercial kitchen includes fryers, a flat-top grill, a walk-in cooler, and a prep/storage area. The bar offers 23 taps and has a seating capacity for 190 patrons. The property size is 5188 square feet.
Key Highlights
- Turn‑key bar and restaurant including business, building, Class C liquor license, and all FF&E.
- Established business with a strong local following and high‑traffic visibility in downtown Flushing.
- Seating capacity for 190 patrons and 23 taps at the bar.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,001
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,020
$920.0K
Cap Rate 7%
$657,157
$657.2K
Cap Rate 9%
$511,122
$511.1K
Market Conditions
NOI Build-Up for 5,188 SF
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.
Gross rent
$74.7K $14.40/SF
− Vacancy
−$13.4K −$2.58/SF
EGI
$61.3K $11.82/SF
− OpEx
−$15.3K −$2.96/SF
NOI
$46.0K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,020
Cap Rate 7%
$657,157
Cap Rate 9%
$511,122
Alternative Uses
Best Use
Specialty Retail
$657.2K
$575.0K – $766.7K
NOI $46,001 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$955.2K – $1.27M
NOI $76,418 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Marathon
Shops & Services
8,429 visits/mo
0.2 miles
Little Caesars Pizza
Dining
5,264 visits/mo
0.2 miles
Valero Energy
Shops & Services
5,020 visits/mo
0.3 miles
Puerto Vallarta
Dining
4,737 visits/mo
0.1 miles
SUBWAY
Dining
2,646 visits/mo
0.1 miles
Demographics for 48433, MI
26,688
Population
10,597
Households
2.5
Avg Household Size
44
Median Age
29%
College-Educated
95%
High-School Grad
55.5 sq mi
ZIP Area
481
Density / Sq Mi
$81,301
Median Household Income
$45,126
Median Earnings
$982
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Skip's Come Back Inn — 111 E Main St, Flushing, MI 48433
- Duffy's of Flushing — 125 E Main St, Flushing, MI 48433
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turn-key bar and restaurant with Class C liquor license.
Where is this bar & pub located?
The property is located at 111 E Main Street Flushing, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Turn‑key bar and restaurant including business, building, Class C liquor license, and all FF&E.; Established business with a strong local following and high‑traffic visibility in downtown Flushing.; Seating capacity for 190 patrons and **23 taps at the bar**.
