Restaurant with Road
For Sale
$350,000
13350 Spring Arbor Rd, Concord, MI 49237
Equipped restaurant with seating, recent building upgrades, and established food-service infrastructure.
Property Size1,618 SF
Lot Size2.00 Acres
Price / SF$216.32
Days on Market9
Property Features for 13350 Spring Arbor Rd
General Information
Standard status
Active
Size
1,618 SF
Lot size
2.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
56
Grease Trap
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1940
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 204-4385
Listed By:
PHILLIP M MORGAN · License #6502108104
Source:
Vmrealestatemichigan
Added: Aug 23
Changed: Aug 31
Last Checked: Aug 31 at 5:38PM
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 ERA Reardon Realty, L.L.C.
Investment Insights
Based on property information with market context.
Ken's M60 Grill is an existing restaurant property at 13350 Spring Arbor Rd in Concord Village, Michigan. The site encompasses 2 acres and includes a restaurant layout with seating for up to 56 guests. Improvements include a new roof, new sidewalk, exterior lighting, updated electrical service, grease traps, and additional restaurant equipment.
The property fronts M-60 and provides space associated with the existing restaurant operation, including room for parking and outdoor use. Built in 1940, the property offers an established food-service setting with infrastructure already in place for continued restaurant use.
The property fronts M-60 and provides space associated with the existing restaurant operation, including room for parking and outdoor use. Built in 1940, the property offers an established food-service setting with infrastructure already in place for continued restaurant use.
Key Highlights
- 2‑acre restaurant property at 13350 Spring Arbor Rd, Concord Village, MI 49237
- Frontage on M‑60
- Seating capacity for up to 56 guests
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
$15,373
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
4.39%
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%
$307,460
$307.5K
Cap Rate 7%
$219,614
$219.6K
Cap Rate 9%
$170,811
$170.8K
Market Conditions
NOI Build-Up for 1,618 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
$22.3K $13.80/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$20.5K $12.67/SF
− OpEx
−$5.1K −$3.17/SF
NOI
$15.4K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /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%
$307,460
Cap Rate 7%
$219,614
Cap Rate 9%
$170,811
Alternative Uses
Best Use
Specialty Retail
$219.6K
$192.2K – $256.2K
NOI $15,373 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.3K
$226.0K – $301.3K
NOI $18,080 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49237, MI
3,027
Population
1,265
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
92%
High-School Grad
41.0 sq mi
ZIP Area
74
Density / Sq Mi
$66,667
Median Household Income
$43,906
Median Earnings
$806
Median Rent
$179,300
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 - Equipped restaurant with seating, recent building upgrades, and established food-service infrastructure.
Where is this conventional restaurant located?
The property is located at 13350 Spring Arbor Rd Concord, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2‑acre restaurant property at 13350 Spring Arbor Rd, Concord Village, MI 49237; Frontage on M‑60; Seating capacity for up to 56 guests
