Listing Agency: Kramer Commercial Realty

Listed By: Korissa Kramer, CCIM · License #MI 6502386241 Show Phone

Source: Crexi

Added: Mar 19 Changed: Oct 5 Last Checked: Oct 5 at 6:46PM

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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 / Yr

$48,254

Cap Rate

4.02%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $48,254 @ 7.0% cap · market cap 4.02%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$2.62M

$2.29M – $3.06M (±1% cap)

NOI $183,341 @ 7.0% cap · market cap 15.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Kitchen & Bath Showroom Auto Parts Store Garden Center Dental Office Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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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 $1,200,000.

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**