Turnkey Restaurant in Historic
113 N Farmer Street, Otsego, MI 49078
- Added:
- Dec 15, 2025
- Days on Market:
- 151
- Last Refresh:
- May 15 at 6:06 pm
Property Features for 113 N Farmer Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 2
- Standard status
- Active
- APN
- 54-100-017-01
- Size
- 3,420 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Per Title work
- Tax Annual Amount
- 8186
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick, Stone
Listing agent Joanne K Becker License #6502342093 (269) 217-9878
Listing office Chuck Jaqua, REALTOR 414 W Milham Road, Portage, MI (269) 381-7653
Listing date Dec 15, 2025
MLS# 25062860
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey restaurant opportunity with real estate and FF&E included.
- Newly renovated and restored historical building (125+ years old).
- Fully equipped kitchen suitable for diverse menu options.
- Includes a remodeled 900 s.f., 2‑bedroom apartment on the 2nd floor.
- Seating capacity for 65‑70 customers with kitchen capacity to support higher volume.
- Convenient access to a city parking lot near front and rear entrances.
Overview
This is a turnkey restaurant opportunity located in Otsego, Michigan, within a newly renovated and restored storefront building that is over 125 years old. The building was formerly home to Mac's Place and has historically been a location for food and beverage. The restaurant includes a full kitchen suitable for preparing soups, sandwiches, baked goods, smoked meats, and wood-fired pizzas. It has seating for 65 to 70 patrons, with a kitchen designed to accommodate a higher volume of customers, making it suitable for both dine-in and take-out services. A city parking lot is located near the front and rear entrances. The property also includes a 900-square-foot apartment on the second floor, featuring 2 bedrooms and 1 bath, remodeled in 2022. The sale includes the real estate and FF&E. The total property size is 3,420 square feet.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$422.7K
NOI $38,039 @ 9.00% cap · cautious / downside scenario
Moderate
$543.4K
NOI $38,039 @ 7.00% cap · market / base-case scenario
Aggressive
$760.8K
NOI $38,039 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| 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 Use Scenarios
Best Use
Specialty Retail
$543.4K
$475.5K – $634.0K
NOI $38,039 @ 7.0% cap · market cap 7.64%
Second Best
Retail
$507.2K
$443.8K – $591.7K
NOI $35,503 @ 7.0% cap · market cap 7.13%
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Mac's Place
Restaurant
Location Insight
- Map
- Local Demand
- City
- Otsego
- County
- Allegan
- State
- Michigan
- Longitude
- -85.698405
- Latitude
- 42.461096
Nearby Similar for Sale
FAQs
What type of property is this?
Turn key restaurant - Fully equipped restaurant with apartment in renovated historic building.
Where is this turn key 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: Turnkey restaurant opportunity with real estate and FF&E included.; Newly renovated and restored historical building (125+ years old).; Fully equipped kitchen suitable for diverse menu options.
