Turnkey Bar and
For Sale
$389,000
145 W Pearl Street, Jackson, MI 49201
Turnkey bar and restaurant business for sale with established lunch/dinner menu and commercial kitchen equipment included.
Property Size1,980 SF
Days on Market26
Property Features for 145 W Pearl Street
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$5,915
Amenities
outdoor seating area
Building Details
Building Size
1,980 SF
Year Built
1950
Buildings
1
Units
1
Listing Agency:
Century 21 Affiliated - Jackson
(517) 581-1630
Listed By:
Pamela Sue Mackinder · License #MI6501425179
(517) 581-1630
Source:
Eliterealtymi
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 20 at 2:07PM
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 Century 21 Affiliated - Jackson
Investment Insights
Based on property information with market context.
This for-sale bar and restaurant business is presented as a fully turnkey operation. The sale includes the commercial kitchen equipment and fixtures, along with a valuable liquor license. The concept includes an established lunch/dinner menu and the property is offered with an established operating setup suitable for immediate continuation.
The business is located in a high-visibility, high-foot-traffic district and features an expansive seasonal outdoor seating area designed for warmer months.
The offering is positioned for a buyer seeking an existing bar/restaurant with included improvements and equipment rather than starting from scratch.
The business is located in a high-visibility, high-foot-traffic district and features an expansive seasonal outdoor seating area designed for warmer months.
The offering is positioned for a buyer seeking an existing bar/restaurant with included improvements and equipment rather than starting from scratch.
Key Highlights
- Fully turnkey bar/restaurant operation for sale
- Includes established lunch/dinner menu
- Sale includes commercial kitchen equipment and fixtures
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
$18,813
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
4.84%
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%
$376,260
$376.3K
Cap Rate 7%
$268,757
$268.8K
Cap Rate 9%
$209,033
$209.0K
Market Conditions
NOI Build-Up for 1,980 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
$27.3K $13.80/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$25.1K $12.67/SF
− OpEx
−$6.3K −$3.17/SF
NOI
$18.8K $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%
$376,260
Cap Rate 7%
$268,757
Cap Rate 9%
$209,033
Alternative Uses
Best Use
Specialty Retail
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.1K
$276.6K – $368.8K
NOI $22,125 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,487
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Electronics 11%
Dollar General
Shops & Services
4,898 visits/mo
0.5 miles
Huntington Bank
Shops & Services
2,329 visits/mo
0.2 miles
Boost Mobile
Electronics
1,213 visits/mo
0.4 miles
Old National Bank
Shops & Services
1,008 visits/mo
0.1 miles
Firestone Complete Auto Care
Shops & Services
765 visits/mo
0.2 miles
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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- Nite Lite — 145 W Pearl St, Jackson, MI 49201
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar and restaurant business for sale with established lunch/dinner menu and commercial kitchen equipment included.
Where is this bar & pub located?
The property is located at 145 W Pearl Street Jackson, MI.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Fully turnkey bar/restaurant operation for sale; Includes established lunch/dinner menu; Sale includes commercial kitchen equipment and fixtures
