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    Turnkey Restaurant and Bar Property Title is generated by Realmo AI

    12227-12229 Seymour Road, Grass Lake, MI 49240

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    New
    For Sale
    $750,000

    Fully operational restaurant and bar with commercial kitchen, liquor license, and multiple indoor and outdoor seating areas.

    Type:Retail
    Property size:
    5,310 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $141/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:08 am

    Property Features for 12227-12229 Seymour Road

    General Information

    Standard status
    Active
    Size
    5,310 SF
    Lot size
    1.09 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Charlie Koenn
    Charlie Koenn

    Listing agent Charlie Koenn License #MI #6506040186

    Listing office Swisher Commercial

    Listing date Jun 2, 2026

    Source Swishercommercial

    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 Swisher Commercial

    HighLights

    • Fully operational restaurant/bar with included FF&E and a Class C liquor license
    • 3,414 SF commercial building plus a 1.09‑acre property with indoor dining and a covered outdoor patio
    • Fully equipped commercial kitchen and bar
    • 2,5‑bath ranch‑style residence with 1,896 SF, plus a 450 SF basement and attached garage
    • Private game room/event space, landscaped grounds with pond and lounge area, and smoker station
    • Well and septic, ample on‑site parking, and horse access/parking from Waterloo Trail

    Overview

    A rare opportunity to acquire a fully operational restaurant/bar property designed for a turnkey hospitality operation. The offering includes FF&E and a Class C Liquor License, along with a fully equipped commercial kitchen and bar. The primary building is approximately 3,414 SF and the site also includes an approximately 1,896 SF ranch-style residence with 2 bedrooms, 2.5 baths, a 450 SF basement, and an attached garage.

    The property is located within the Waterloo Recreation Area and supports a destination-style experience. Indoor dining is complemented by a covered outdoor patio with additional outdoor seating and a smoker station. There is also a private game room/event space, along with landscaped grounds featuring a pond and lounge area. The property offers ample on-site parking, and horse access/parking is available from Waterloo Trail. Utilities include well and septic.

    This configuration offers strong fit for owner-operators, investors, or hospitality groups looking for a restaurant and bar that can host both everyday service and events. The combination of dining areas, private space, and a prepared operations package (equipment and liquor license) is well suited for operators aiming to open, scale, or acquire a venue with immediate functional readiness.

    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 $73.3k $13.80
    − Vacancy −$6.0k −$1.13
    EGI $67.3k $12.67
    − OpEx −$16.8k −$3.17
    NOI $50.5k $9.50
    5,310 SF · lease $13.80/SF/yr · vacancy 8.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $720.7K
    $630.7K – $840.9K (±1% cap)
    NOI $50,452 @ 7.0% cap · market cap 6.73%
    Second Best
    Industrial
    $527.0K
    $461.1K – $614.9K (±1% cap)
    NOI $36,891 @ 7.0% cap · market cap 4.92%
    Theoretical Best
    Office A
    $847.7K
    $741.7K – $988.9K (±1% cap)
    NOI $59,336 @ 7.0% cap · market cap 7.91%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Department Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grass Lake
    County
    Jackson
    State
    Michigan
    Longitude
    -84.22453
    Latitude
    42.32259

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    FAQs

    What type of property is this?
    Conventional restaurant - Fully operational restaurant and bar with commercial kitchen, liquor license, and multiple indoor and outdoor seating areas.
    Where is this conventional restaurant located?
    The property is located at 12227-12229 Seymour Road Grass Lake, MI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Fully operational restaurant/bar with included FF&E and a Class C liquor license; 3,414 SF commercial building plus a 1.09‑acre property with indoor dining and a covered outdoor patio; Fully equipped commercial kitchen and bar
    (734) 926-0230
    We can help!
    Listing Contact
    Charlie Koenn
    Charlie Koenn
    Real Estate License ID: MI #6506040186
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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