Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1320 W State St Hastings, MI 49058

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Restaurant space with drive-through, abundant parking, and strong visibility.

    Property size:
    3,093 SF
    Lot size:
    1.11 Acres

    Property Features for 1320 W State St

    General Information

    Size
    3,093 SF
    Lot size
    1.11 Acres

    We can help!

    Listing Contact
    Robert Mihelich
    Source: Moodyscre

    Listing Agency: JLL | Detroit Listing Agent: Robert Mihelich

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Former Restaurant in Retail Corridor

    This property, built in 1994, is a former restaurant situated on a 1.13-acre lot. The property benefits from abundant parking and is located in a strong retail corridor. It is zoned B2 and was formerly a KFC. The original lease extends through September 30, 2038. The property size is 3,093 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Baseball Field Sports Field & Court

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hastings
    County
    Barry
    State
    Michigan
    Longitude
    -85.269905
    Latitude
    42.63813

    Nearby Similar for Sale

    • New
      $650,000
      4,896 SF

      Hastings Office Building For Sale

      Four-unit office building with ample parking near downtown Hastings.
      450 Meadow Run Dr, Hastings, MI 49058
      View Details
    • New
      $499,900
      Pending

      Profitable Sports Shop in Hastings

      Established sports shop for sale with real estate and inventory.
      111 S Jefferson St, Hastings, MI 49058
      View Details
    • $425,000
      11,538 SF

      Versatile Commercial Property in Hastings

      High-visibility commercial property with flexible space and specialized features.
      1065 W Green St, Hastings, MI 49058
      View Details
    • $225,000
      Pending

      Established Restaurant in Downtown Hastings

      Well-established diner in downtown Hastings, ready for new ownership.
      139 E Court St, Hastings, MI 49058
      View Details
    • $595,000
      5,068 SF

      Industrial Building with Lay Down Yard

      5,068 SF Hastings building ideal for industrial or commercial use.
      1663 S Hanover St, Hastings, MI 49058
      View Details
    • $424,900
      Pending

      Versatile Commercial Property on 5 Acres

      Commercial property with living space, suitable for assisted living.
      2895 M 79 Hwy, Hastings, MI 49058
      View Details
    • $300,000
      0.56 Acres

      Hastings Duplex: Investment Opportunity

      Well-maintained duplex in Hastings with leases through February 2027.
      1315 S Hanover St, Hastings, MI 49058
      View Details
    • $290,000
      Pending

      Hastings Multifamily Property For Sale

      Duplex with separate utility meters and fruit trees in backyard.
      720 S Jefferson St, Hastings, MI 49058
      View Details
    • $92,900
      0.31 Acres

      Versatile Pole Barn with Loft

      Pole barn on 0.31 acres, equipped with electric and water.
      1859 Jester Dr, Hastings, MI 49058
      View Details
    • $425,000

      Versatile Commercial Property with Cranes

      Over 11,000 SF commercial property with high visibility.
      1065 W Green St, Hastings, MI 49058
      View Details
    • $349,000
      2,278 SF

      3 Unit Fully Leased Apartment - 502 W. State Street, Hastings MI

      3 Unit Apartment - Zoned as Mixed Use PUD 502 W. State Street, Hastings MI
      502 State St, Hastings, MI 49058
      View Details
    • $595,000

      Versatile Commercial Building on M-37

      5,068 SF building on 2 acres, ideal for industrial/commercial.
      1663 S Hanover St, Hastings, MI 49058
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Restaurant space with drive-through, abundant parking, and strong visibility.
    Where is this drive through restaurant located?
    The property is located at 1320 W State St Hastings, MI.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: - Original lease through 9-30-2038; - 1.13 acre lot; - Abundant parking
    (248) 581-3300 Call to check price and availability
    Request Owner's contact information
    1320 W State St Hastings, MI 49058
    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.
    1320 W State St
    Hastings, MI 49058
    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
    1320 W State St Hastings, MI 49058
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Mihelich
    Real Estate License ID: 6501237599
    (248) 581-3300 (248) 581-3366
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!