Waterfront Restaurant Business For
For Sale
Contact for pricing
119 Clinton Ave, Saint Clair, MI 48079
Established restaurant with prime waterfront real estate in Downtown St. Clair.
Property Size3,484 SF
Price / SF$373.13
Days on Market156
Property Features for 119 Clinton Ave
General Information
Standard status
Active
Size
3,484 SF
Property subtype
Retail
Zoning
DRD-C
Listing Agency:
Kramer Commercial Realty
(810) 531-4090
Listed By:
Korissa Kramer, CCIM · License #MI 6502386241
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 20 at 7:06PM
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 Kramer Commercial Realty
Investment Insights
Based on property information with market context.
An exceptional opportunity exists to acquire an established restaurant business, complete with prime waterfront real estate, situated in Downtown St. Clair. This turnkey property offers a combination of scenic riverfront dining, private docking, and a strong local reputation. The restaurant, totaling 3484 square feet, features both indoor and outdoor seating options. It also includes a fully equipped commercial kitchen. The property benefits from waterside dining areas that provide panoramic river views.
Key Highlights
- Prime waterfront real estate in Downtown St. Clair
- Established and turnkey restaurant business
- Scenic riverfront dining with panoramic river views**
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
$48,254
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
3.71%
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%
$965,080
$965.1K
Cap Rate 7%
$689,343
$689.3K
Cap Rate 9%
$536,156
$536.2K
Market Conditions
NOI Build-Up for 3,484 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
$66.1K $18.96/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$64.3K $18.47/SF
− OpEx
−$16.1K −$4.62/SF
NOI
$48.3K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$965,080
Cap Rate 7%
$689,343
Cap Rate 9%
$536,156
Alternative Uses
Best Use
Specialty Retail
$689.3K
$603.2K – $804.2K
NOI $48,254 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.62M
$2.29M – $3.06M
NOI $183,341 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 42%
Beauty & Spa 7%
Dollar Tree
Shops & Services
11,636 visits/mo
0.4 miles
Tim Hortons
Dining
11,539 visits/mo
0.1 miles
Burger King
Dining
8,424 visits/mo
0.1 miles
BP
Shops & Services
4,709 visits/mo
0.2 miles
Great Clips
Beauty & Spa
3,333 visits/mo
0.1 miles
Demographics for 48079, MI
12,553
Population
5,403
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
41.9 sq mi
ZIP Area
300
Density / Sq Mi
$80,313
Median Household Income
$46,643
Median Earnings
$1,090
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant with prime waterfront real estate in Downtown St. Clair.
Where is this conventional restaurant located?
The property is located at 119 Clinton Ave Saint Clair, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime waterfront real estate in Downtown St. Clair; Established and turnkey restaurant business; Scenic riverfront dining with panoramic river views**
