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    Historic Tavern with Award-Winning Fish Title is generated by Realmo AI

    6681 N Lumberjack Rd, Riverdale, MI 48877

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    For Sale
    $399,900

    Turnkey restaurant/tavern with rental potential and updated amenities.

    Type:Commercial
    Property size:
    4,000 SF
    Price / SF:
    $99/SF
    Added:
    Apr 26, 2026
    Days on Market:
    17
    Last Refresh:
    Apr 26 at 1:44 pm

    Property Features for 6681 N Lumberjack Rd

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1917

    We can help!

    Listing Contact
    Tish Mallory

    Listing agent Tish Mallory

    Listing office 43 NORTH REALTY

    Listing date Apr 26, 2026

    Source Elliman

    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 43 NORTH REALTY

    HighLights

    • Award‑winning fish fry business with proven success (2025 & 2026 awards).
    • Turnkey restaurant/tavern with all existing equipment included.
    • Substantial square footage: Over 4,000 sq. ft. on the main level with an additional 2,000+ sq. ft. of rental potential upstairs.
    • New outdoor bar and fencing added in 2024, including a tent for events.
    • Updated septic system and Generac generator installed in 2025.
    • Established business with Class C Sunday Sales license and non‑transferrable lottery license.

    Overview

    This restaurant and tavern, known for its award-winning fish fry, offers a piece of history with its antique bar. The business has won awards in 2025 and 2026 on "Keepin' It Local In The 989" on Facebook. The property includes over 4,000 square feet on the main level, with over 2000 square feet of rental potential above the tavern. In 2024, a new outdoor bar and fencing were added, and a tent is included in the sale. This space is suitable for car shows, bike shows, and fundraisers. The owners have a Class C Sunday Sales license and a non-transferrable lottery license. A Generac generator was added in 2025, and the septic system was recently updated. The property is located in central Michigan. The sale is turnkey, allowing the buyer to take over the legacy. There is also a 3 bed, 2 bath home next door to be listed soon for residence or as a rental, along with an extra lot with a separate storage barn on Maple Street.
    Location Intelligence

    Current Use by Public Records

    Riverdale Tavern Restaurant

    Suggested Use

    Building Supply HVAC Service Grocery & Convenience Store Electrical Service Pet Store Pet Store & Service Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverdale
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.836071
    Latitude
    43.389069

    Nearby Similar for Sale

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      Historical Tavern with Rental Potential

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      6681 N Lumberjack Road, Riverdale, MI 48877
      View Details
    • $500,000
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      Commercial Buildings with Finished Space

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      Two Commercial Buildings with Acreage

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey restaurant/tavern with rental potential and updated amenities.
    Where is this bar & pub located?
    The property is located at 6681 N Lumberjack Rd Riverdale, MI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Award‑winning fish fry business with proven success (2025 & 2026 awards).; Turnkey restaurant/tavern with all existing equipment included.; **Substantial square footage: Over 4,000 sq. ft. on the main level with an additional 2,000+ sq. ft. of rental potential upstairs.**
    (989) 763-0501
    We can help!
    Listing Contact
    Tish Mallory
    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.

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