Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Restaurant & Bar Opportunity Title is generated by Realmo AI

    12227 Seymour Road, Grass Lake, MI 49240

    View on Map
    Claim this Listing
    For Sale
    $500,000

    COMMERCIAL - Grass Lake, MI

    Property size:
    3,414 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $146/SF
    Added:
    May 13, 2026
    Days on Market:
    15
    Last Refresh:
    May 27 at 9:06 pm

    Property Features for 12227 Seymour Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    APN
    000-10-05-351-001-01
    Size
    3,414 SF
    Lot size
    1.09 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    On File
    Tax Annual Amount
    6604

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1993
    Floors in Building
    1
    Number of units
    1
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Charles Koenn

    Listing agent Charles Koenn License #6506040186

    Listing office Swisher Commercial 180 Little Lake Dr. Ste 4, Ann Arbor, MI

    Listing date May 13, 2026

    MLS# 26024714

    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

    • Fully operational and well‑maintained restaurant/bar with all equipment included.
    • Prime location in the heart of the Waterloo Recreation Area, a high‑traffic recreational destination.
    • Features spacious dining room, commercial kitchen, private game room, and covered patio dining pavilion.
    • Includes landscaped grounds with a decorative pond, lounge area, and fenced patio.
    • Ample parking, easy access from Seymour Rd, and even horse 'parking' from Waterloo Trail.
    • C‑1 zoning supports restaurant, bar, retail, and other commercial uses.

    Overview

    This is a rare opportunity to acquire a fully operational restaurant and bar property suitable for owner-operators, hospitality groups expanding into destination dining, investors, caterers, BBQ operators, breweries, or event-driven concepts. The property is located in the heart of the Waterloo Recreation Area. The well-maintained and fully equipped hospitality operation features an L-shaped bar with multiple taps, a liquor display, overhead glass racks, and several mounted TVs. The spacious dining room includes wood-look flooring, clean finishes, and flexible table layouts. The commercial kitchen is equipped with stainless prep lines, a hood system, fryers, burners, refrigeration, and a pass-through window. Additional service areas, storage, and POS zones are available, along with a private game room for private events or additional seating. The property also features a covered patio dining pavilion with wood beam construction and brick pavers, an additional picnic-style seating area with firewood storage, and a large outdoor smoker station with a wood storage canopy. The landscaped grounds include a decorative pond, lounge area, and fenced patio. Ample parking is available, with easy access from Seymour Rd and horse parking from Waterloo Trail. The property is situated on 1.09 acres with C 1 zoning that supports restaurant, bar, retail, and other commercial uses. It has well and septic systems and is located in a high-traffic recreational area near lakes, campgrounds, and state land. The building size is 3414 square feet.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $360.4K
    NOI $32,437 @ 9.00% cap · cautious / downside scenario
    Moderate
    $463.4K
    NOI $32,437 @ 7.00% cap · market / base-case scenario
    Aggressive
    $648.7K
    NOI $32,437 @ 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 $47.1k $13.80
    − Vacancy −$3.9k −$1.13
    EGI $43.2k $12.67
    − OpEx −$10.8k −$3.17
    NOI $32.4k $9.50
    3,414 SF · lease $13.80/SF/yr · vacancy 8.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $463.4K
    $405.5K – $540.6K (±1% cap)
    NOI $32,437 @ 7.0% cap · market cap 6.49%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $545.0K
    $476.9K – $635.8K (±1% cap)
    NOI $38,149 @ 7.0% cap · market cap 7.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Portage Lake Parlor Restaurant

    Suggested Use

    Restaurant Department Store Bar & Pub

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

    Similar Places Nearby

    • Portage Lake Parlor — 12227 Seymour Rd, Grass Lake, MI 49240

    Location Insight

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

    Nearby Similar for Sale

    • $299,900
      2,640 SF

      Historic Commercial Building, Grass Lake

      Charming commercial building with historic details and high visibility.
      115 E Michigan Avenue, Grass Lake, MI 49240
      View Details
    • $750,000
      5,310 SF

      Turnkey Restaurant and Residential Property

      Fully operational restaurant/bar with residence in Waterloo Recreation Area.
      12229 Seymour Road, Grass Lake, MI 49240
      View Details
    • $299,900
      2,640 SF

      Grass Lake Office For Sale

      Office building in Grass Lake, Michigan, available for purchase.
      115 E Michigan Avenue, Grass Lake, MI 49240
      View Details
    • $299,900

      Historic Bank Building For Sale

      Rare opportunity to own a piece of Grass Lake's history.
      115 E Michigan Ave, Grass Lake, MI 49240
      View Details
    • $1,200,000
      30 SF

      Equestrian Facility in Waterloo Area

      30-acre horse show facility with stabling for 182 horses.
      11500 Glenn Rd, Grass Lake, MI
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Fully operational restaurant and bar in Waterloo Recreation Area.
    Where is this bar & pub located?
    The property is located at 12227 Seymour Road Grass Lake, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Fully operational and well‑maintained restaurant/bar with all equipment included.; Prime location in the heart of the Waterloo Recreation Area, a high‑traffic recreational destination.; Features **spacious dining room, commercial kitchen, private game room, and covered patio dining pavilion.**
    (734) 926-0230
    We can help!
    Listing Contact
    Charles Koenn
    Real Estate License ID: 6506040186
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12227 Seymour Road, Grass Lake, MI 49240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!