Turnkey Restaurant with
113 N Farmer Street Otsego, MI 49078
113 N Farmer Street, Otsego, MI, 49078
$498,000
For Sale
$498,000
Turnkey restaurant with a full kitchen, seating for 65–70, and a nearby city parking lot close to entrances.
Property Size3,420 SF
Price / SF$145.61
Days on Market215
Property Features for 113 N Farmer Street
General Information
- Standard status
- Active
- Size
- 3,420 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency
Chuck Jaqua, REALTOR
(269) 217-9878
Listed by
Joanne K Becker · License #6502342093
(269) 217-9878
Source
Sabudarealty
Added: Dec 15, 2025 Checked: Jul 18 at 2:40 am
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 Chuck Jaqua, REALTOR
Investment Insights
Based on property information with market context.
This turnkey restaurant opportunity is housed in a newly renovated and restored 125+ year old storefront building. The space includes a full kitchen capable of supporting a high-volume operation, with equipment suited for a range of menu preparation including soups, sandwiches, baked goods, smoked meats, and wood fired pizzas. Dining capacity is listed at approximately 65–70 seats, with the facility set up to support both dine-in and take-out service. The sale also includes the real estate and FF&E.
A city parking lot is located very close to both the front and rear entrances, supporting guest access for arrivals and pickup.
In addition to the restaurant, the property includes a second-floor apartment of approximately 900 square feet with one bath and two bedrooms, remodeled in 2022.
A city parking lot is located very close to both the front and rear entrances, supporting guest access for arrivals and pickup.
In addition to the restaurant, the property includes a second-floor apartment of approximately 900 square feet with one bath and two bedrooms, remodeled in 2022.
Key Highlights
- Restaurant located in a restored 125+ year old storefront building built in 1900
- Full kitchen setup for soups, sandwiches, baked goods, smoked meats, and wood fired pizzas
- Dining seating for 65–70 with kitchen capacity to serve more than that volume
Local Financial Insights For Specialty Retail
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 | $52.9k | $15.48 |
| − Vacancy | −$2.2k | −$0.65 |
| EGI | $50.7k | $14.83 |
| − OpEx | −$12.7k | −$3.71 |
| NOI | $38.0k | $11.12 |
3,420 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$543.4K
$475.5K – $634.0K
NOI $38,039 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$32.12M
$28.10M – $37.47M
NOI $2,248,213 @ 7.0% cap · market cap 451.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mac's Place
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant with a full kitchen, seating for 65–70, and a nearby city parking lot close to entrances.
Where is this conventional restaurant located?
The property is located at 113 N Farmer Street Otsego, MI.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Restaurant located in a restored 125+ year old storefront building built in 1900; Full kitchen setup for soups, sandwiches, baked goods, smoked meats, and wood fired pizzas; Dining seating for 65–70 with kitchen capacity to serve more than that volume
