Three-Story Restaurant
For Sale
$850,000
111 W Grand River Ave, Okemos, MI 48864
Includes a basement, liquor license, and flexible sale or lease considerations.
Property Size5,744 SF
Price / SF$147.98
Days on Market724
Property Features for 111 W Grand River Ave
General Information
Standard status
Active
Size
5,744 SF
Class
B
Property subtype
Retail
Additional Details
Liquor License
Yes
Building Details
Building Size
5,744 SF
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
John K. Porth · License #6501336460
(810) 623-3755
Source:
Cpix.resimplifi
Added: Oct 24, 2024
Changed: Oct 16
Last Checked: Oct 16 at 5:59AM
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 Thomas A. Duke Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This conventional restaurant property offers 5,744 square feet across 3 stories, with additional basement space. The building is configured for restaurant use and includes a liquor license, providing an established operational component for a prospective occupant.
The property is being offered for sale, with a land contract option available. Lease consideration is also noted, giving the building multiple transaction structures for qualified parties.
The property is being offered for sale, with a land contract option available. Lease consideration is also noted, giving the building multiple transaction structures for qualified parties.
Key Highlights
- 5,744‑square‑foot conventional restaurant building
- 3 stories plus a basement
- Liquor license included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,931
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,018,620
$1.0M
Cap Rate 7%
$727,586
$727.6K
Cap Rate 9%
$565,900
$565.9K
Market Conditions
NOI Build-Up for 5,744 SF
Gross rent
$82.7K $14.40/SF
− Vacancy
−$14.8K −$2.58/SF
EGI
$67.9K $11.82/SF
− OpEx
−$17.0K −$2.96/SF
NOI
$50.9K $8.87/SF
Area
Ingham County, MI
Vacancy
17.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,018,620
Cap Rate 7%
$727,586
Cap Rate 9%
$565,900
Alternative Uses
Best Use
Specialty Retail
$727.6K
$636.6K – $848.9K
NOI $50,931 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$922.8K
$807.5K – $1.08M
NOI $64,599 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48864, MI
22,804
Population
9,903
Households
2.3
Avg Household Size
38
Median Age
76%
College-Educated
98%
High-School Grad
20.1 sq mi
ZIP Area
1,135
Density / Sq Mi
$113,145
Median Household Income
$64,120
Median Earnings
$1,281
Median Rent
$358,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a basement, liquor license, and flexible sale or lease considerations.
Where is this conventional restaurant located?
The property is located at 111 W Grand River Ave Okemos, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,744‑square‑foot conventional restaurant building; 3 stories plus a basement; Liquor license included
