Mixed-Use Restaurant and
For Sale
$750,000
12229 Seymour Road, Grass Lake, MI 49240
Restaurant, bar, and adjacent ranch home combine commercial operations with a separate residential component.
Property Size5,310 SF
Lot Size1.96 Acres
Price / SF$141.24
Days on Market11
Property Features for 12229 Seymour Road
General Information
Standard status
Active
Size
5,310 SF
Lot size
1.96 Acres
Zoning
C-1 and R-3
Site & Location
Road Access
Yes
Utilities to Site
Yes
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$11,331
Amenities
picnic seating area
smoker station
decorative pond
lounge area
horse parking
game room
true
2
Real Estate, Licenses, Inventory, Equipment
Well
1.09
116x829x106x783
false
Paved
5310
Building Details
Building Size
5,310 SF
Year Built
1993
Buildings
2
Stories
2
Listing Agency:
Swisher Commercial
(734) 663-0501
Listed By:
Charles Koenn
(734) 926-0230
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 19
Changed: Oct 29
Last Checked: Oct 28 at 7:13AM
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
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Investment Insights
Based on property information with market context.
The commercial building contains a 3,414-square-foot restaurant and bar, built in 1993 and remodeled in 2009. Its amenities include a large bar, dining room, commercial kitchen with cooking and refrigeration equipment, service and storage areas, and a separate game room. Outdoor features include a covered dining pavilion, picnic seating, smoker station, landscaped grounds, pond, fenced patio, and parking. The commercial parcel spans 1.086 acres and has C-1 zoning, well and septic service, and access from Seymour Road.
An adjacent 1,896-square-foot ranch residence, built in 1950, sits on a 0.876-acre lot. The home has two bedrooms, 2.5 baths, a 450-square-foot basement, a 480-square-foot attached garage, forced heating and cooling, a deck, sunroom with hot tub, and fireplace. It is served by a well and septic system and has a private driveway.
The property is in the Waterloo Recreation Area corridor, near lakes, campgrounds, and state land. The two parcels total approximately 1.96 acres and carry C-1 and R-3 zoning.
An adjacent 1,896-square-foot ranch residence, built in 1950, sits on a 0.876-acre lot. The home has two bedrooms, 2.5 baths, a 450-square-foot basement, a 480-square-foot attached garage, forced heating and cooling, a deck, sunroom with hot tub, and fireplace. It is served by a well and septic system and has a private driveway.
The property is in the Waterloo Recreation Area corridor, near lakes, campgrounds, and state land. The two parcels total approximately 1.96 acres and carry C-1 and R-3 zoning.
Key Highlights
- 3,414‑square‑foot restaurant and bar, built in 1993 and remodeled in 2009
- Commercial kitchen, bar, dining room, separate game room, and outdoor dining areas
- 1,896‑square‑foot ranch residence built in 1950, with 2 bedrooms and 2.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,452
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,040
$1.0M
Cap Rate 7%
$720,743
$720.7K
Cap Rate 9%
$560,578
$560.6K
Market Conditions
NOI Build-Up for 5,310 SF
Gross rent
$73.3K $13.80/SF
− Vacancy
−$6.0K −$1.13/SF
EGI
$67.3K $12.67/SF
− OpEx
−$16.8K −$3.17/SF
NOI
$50.5K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,040
Cap Rate 7%
$720,743
Cap Rate 9%
$560,578
Alternative Uses
Best Use
Specialty Retail
$720.7K
$630.7K – $840.9K
NOI $50,452 @ 7.0% cap · market cap 6.73%
Second Best
Mixed Use
$628.7K
$550.1K – $733.5K
NOI $44,007 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$847.7K
$741.7K – $988.9K
NOI $59,336 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 49240, MI
9,213
Population
4,050
Households
2.3
Avg Household Size
45
Median Age
33%
College-Educated
97%
High-School Grad
104.1 sq mi
ZIP Area
89
Density / Sq Mi
$95,307
Median Household Income
$49,705
Median Earnings
$1,178
Median Rent
$272,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant, bar, and adjacent ranch home combine commercial operations with a separate residential component.
Where is this mixed-use property located?
The property is located at 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: 3,414‑square‑foot restaurant and bar, built in 1993 and remodeled in 2009; Commercial kitchen, bar, dining room, separate game room, and outdoor dining areas; 1,896‑square‑foot ranch residence built in 1950, with 2 bedrooms and 2.5 baths
