Established Restaurant with Local
For Sale
$474,000
370 N State Street, Sparta, MI 49345
Long-standing restaurant with equipment and name included in sale.
Property Size1,374 SF
Lot Size0.51 Acres
Price / SF$344.98
Days on Market962
Property Features for 370 N State Street
General Information
Standard status
Active
Size
1,374 SF
Lot size
0.51 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1960
Listing Agency:
Eggerding Inc., Arthur K.
(616) 835-2624
Listed By:
Brynadette Powell · License #6501358745
(616) 835-2624
Source:
Exitrealty
Added: Dec 12, 2023
Changed: Jul 6
Last Checked: Jul 31 at 5:36AM
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 Eggerding Inc., Arthur K.
Investment Insights
Based on property information with market context.
This long-standing restaurant, cherished by the local military community, offers a hometown culinary experience. Under the same ownership for over 20 years, the sale includes all equipment and the established name. The property size is 1374 square feet. New flooring is planned for November 24, 2025. The property is located at 370 N State Street, Sparta, MI 49345.
Key Highlights
- Long‑standing restaurant with deep local roots and strong ties to the military community.
- Established business with same ownership for over 20 years.
- Sale includes all equipment and the established business name.
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 | $21.3k | $15.48 |
| − Vacancy | −$893 | −$0.65 |
| EGI | $20.4k | $14.83 |
| − OpEx | −$5.1k | −$3.71 |
| NOI | $15.3k | $11.12 |
1,374 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.7K
$215.0K – $286.7K
NOI $17,202 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49345, MI
13,734
Population
5,074
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
263
Density / Sq Mi
$84,918
Median Household Income
$44,051
Median Earnings
$968
Median Rent
$261,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Long-standing restaurant with equipment and name included in sale.
Where is this conventional restaurant located?
The property is located at 370 N State Street Sparta, MI.
What is the asking price?
The asking price for this property is $474,000.
What are key features of this property?
This property features: Long‑standing restaurant with deep local roots and strong ties to the military community.; Established business with same ownership for over 20 years.; Sale includes all equipment and the established business name.
