Restaurant with Outdoor
11921 S East Torch Lake Drive, Alden, MI 49612
For Sale
$824,900
A separate takeout area complements the dining room, bar, and kitchen.
Property Size2,802 SF
Lot Size0.83 Acres
Price / SF$294.40
Days on Market54
Property Features for 11921 S East Torch Lake Drive
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Restaurant
Patio
Equipment Included
Liquor License
Additional Details
Business Included
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Century 21 Northland
Listed By:
Deirdre Carroll · License #MI6506047900
(231) 929-7900
Source:
Centralmirealty
Added: Sep 15
Changed: Nov 4
Last Checked: Nov 7 at 4:34AM
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 Century 21 Northland
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Investment Insights
Based on property information with market context.
Located at 11921 S East Torch Lake Drive in Alden, this restaurant property includes a 2,802-square-foot building on approximately 0.83 acres. Built in 2015, the facility has a kitchen, dining room, dedicated bar, outdoor patio, and separate takeout area. The sale includes the real estate, equipment, and a liquor license; food and liquor inventory are excluded and will be handled separately at closing.
The property is near Torch Lake and is zoned Commercial. Showings are by appointment.
The property is near Torch Lake and is zoned Commercial. Showings are by appointment.
Key Highlights
- 2,802‑square‑foot restaurant building on approximately 0.83 acres
- Built in 2015; zoned Commercial
- Kitchen, dining room, bar, and outdoor patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,165
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,300
$623.3K
Cap Rate 7%
$445,214
$445.2K
Cap Rate 9%
$346,278
$346.3K
Market Conditions
NOI Build-Up for 2,802 SF
Gross rent
$43.4K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$41.6K $14.83/SF
− OpEx
−$10.4K −$3.71/SF
NOI
$31.2K $11.12/SF
Area
Antrim County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,300
Cap Rate 7%
$445,214
Cap Rate 9%
$346,278
Alternative Uses
Best Use
Specialty Retail
$445.2K
$389.6K – $519.4K
NOI $31,165 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$498.6K
$436.3K – $581.8K
NOI $34,905 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49612, MI
1,163
Population
864
Households
1.3
Avg Household Size
56
Median Age
48%
College-Educated
97%
High-School Grad
24.9 sq mi
ZIP Area
47
Density / Sq Mi
$84,643
Median Household Income
$45,820
Median Earnings
$858
Median Rent
$252,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A separate takeout area complements the dining room, bar, and kitchen.
Where is this conventional restaurant located?
The property is located at 11921 S East Torch Lake Drive Alden, MI.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: 2,802‑square‑foot restaurant building on approximately 0.83 acres; Built in 2015; zoned Commercial; Kitchen, dining room, bar, and outdoor patio
