Turnkey Bar and
For Sale
$1,150,000
1110 Champion Street, Marquette, MI 49855
Turnkey bar and restaurant for sale with included equipment, furnishings, inventory, and a county liquor license.
Property Size4,280 SF
Price / SF$268.69
Days on Market501
Property Features for 1110 Champion Street
General Information
Standard status
Active
Size
4,280 SF
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Liquor License
Yes
Listing Agency:
RE/MAX 1ST REALTY
Listed By:
DAVE MINGAY · License #6505420592
(906) 361-7604
Source:
Exprealty
Added: Apr 24, 2025
Changed: Aug 20
Last Checked: Sep 5 at 11:28AM
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 RE/MAX 1ST REALTY
Investment Insights
Based on property information with market context.
The Courtyards is a turnkey bar and restaurant sale offering a designed, functional layout in approximately 4,280 square feet. The space includes separate areas behind the bar and in the kitchen, along with dry storage, keg refrigeration, and a private office. A key component of the property is flexibility, as the bar and restaurant were designed to operate separately if desired.
The offering includes all equipment, furnishings, and inventory, along with a county liquor license. Recipes and menu are not included in the sale. Public remarks also note visibility from US 41 and an observed traffic count reported by MDOT of over 20,000 vehicles per day, plus a pedestrian crosswalk intended to make it easy for condo residents and hotel guests from across the street to visit.
The property is located at 1110 Champion Street in Marquette, Michigan.
The offering includes all equipment, furnishings, and inventory, along with a county liquor license. Recipes and menu are not included in the sale. Public remarks also note visibility from US 41 and an observed traffic count reported by MDOT of over 20,000 vehicles per day, plus a pedestrian crosswalk intended to make it easy for condo residents and hotel guests from across the street to visit.
The property is located at 1110 Champion Street in Marquette, Michigan.
Key Highlights
- Bar and restaurant property offered at $1.15 million; recently appraised at $1.6 million.
- Completely rebuilt from the 4 walls with a layout that supports separate operation of the bar and restaurant if desired.
- Includes equipment, furnishings, and all inventory; recipes and menus are not included in the sale.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,279
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,580
$1.2M
Cap Rate 7%
$846,843
$846.8K
Cap Rate 9%
$658,656
$658.7K
Market Conditions
NOI Build-Up for 4,280 SF
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.
Gross rent
$81.1K $18.96/SF
− Vacancy
−$2.1K −$0.49/SF
EGI
$79.0K $18.47/SF
− OpEx
−$19.8K −$4.62/SF
NOI
$59.3K $13.85/SF
Area
Marquette County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,580
Cap Rate 7%
$846,843
Cap Rate 9%
$658,656
Alternative Uses
Best Use
Specialty Retail
$846.8K
$741.0K – $988.0K
NOI $59,279 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,236 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 65%
Shops & Services 35%
Hampton Inn Marquette Waterfront
Hotels & Casinos
3,165 visits/mo
0.4 miles
Pomp's Tire Service
Shops & Services
1,407 visits/mo
0.2 miles
Fairfield Inn & Suites by Marriott Marquette
Hotels & Casinos
1,270 visits/mo
0.0 miles
Safelite AutoGlass
Shops & Services
671 visits/mo
0.3 miles
Gerber Collision & Glass
Shops & Services
265 visits/mo
0.2 miles
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar and restaurant for sale with included equipment, furnishings, inventory, and a county liquor license.
Where is this bar & pub located?
The property is located at 1110 Champion Street Marquette, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Bar and restaurant property offered at $1.15 million; recently appraised at $1.6 million.; Completely rebuilt from the 4 walls with a layout that supports separate operation of the bar and restaurant if desired.; Includes equipment, furnishings, and all inventory; recipes and menus are not included in the sale.
