56-Seat Restaurant
New
For Sale
$350,000
13350 Spring Arbor Road, Concord, MI 49237
Commercial Sale, Concord, MI
Property Size1,618 SF
Lot Size2.00 Acres
Price / SF$216.32
Days on Market3
Property Features for 13350 Spring Arbor Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
HIGHCOM
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Concord
Middle school district
Concord
High school district
Concord
Standard status
Active
APN
002-11-28-426-002-00
Size
1,618 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG AT SE COR OF SEC 28 TH W ALG THE S LN OF SD SEC TO CEN OF HWY M-60 TH NELY ALG CEN OF SD HWY 548 FT TO A PT WH IS TH
Tax Annual Amount
4645
Legal Description
BEG AT SE COR OF SEC 28 TH W ALG THE S LN OF SD SEC TO CEN OF HWY M-60 TH NELY ALG CEN OF SD HWY 548 FT TO A PT WH IS TH
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: Aug 24
Last Checked: Aug 26 at 6:06AM
MLS# 26044767
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,618-square-foot restaurant property sits on 2 acres and includes seating for up to 56 guests. The 1940 building has vinyl siding, a composition roof, forced-air heating, central air, two bathrooms, and broadband access. Restaurant equipment, grease traps, and supporting infrastructure are already in place.
Recent property improvements include a new roof, sidewalk work, exterior lighting, and updated electrical service. The site has frontage on M-60, providing road exposure, with acreage that accommodates parking and outdoor use. Located at 13350 Spring Arbor Road in Concord, Michigan, the property is configured for an operating restaurant or another food-service concept.
Recent property improvements include a new roof, sidewalk work, exterior lighting, and updated electrical service. The site has frontage on M-60, providing road exposure, with acreage that accommodates parking and outdoor use. Located at 13350 Spring Arbor Road in Concord, Michigan, the property is configured for an operating restaurant or another food-service concept.
Key Highlights
- 2‑acre restaurant property with 1,618 square feet of building area
- Seating capacity for up to 56 guests
- M‑60 frontage with road exposure
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
Property Profile
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 - Existing food-service infrastructure includes restaurant equipment, grease traps, updated electrical, and a recently replaced roof.
Where is this conventional restaurant located?
The property is located at 13350 Spring Arbor Road 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 with 1,618 square feet of building area; Seating capacity for up to 56 guests; M‑60 frontage with road exposure
