FootGolf and Frisbee Golf
For Sale
$625,000
14620 Lincoln Lake Avenue NE, Gowen, MI 49326
COMMERCIAL - Gowen, MI
Property Size2,340 SF
Lot Size1.38 Acres
Price / SF$267.09
Days on Market273
Property Features for 14620 Lincoln Lake Avenue NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R-R
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
53
Elementary school district
Greenville
Middle school district
Greenville
High school district
Greenville
Directions
M57 to Lincoln Lake, North on Lincoln Lake to property on the East side of the road right before Dollar General and Charlie's Ice Cream.
Subdivision
Grand Rapids - G
Standard status
Active
APN
41-04-26-176-002
Size
2,340 SF
Lot size
1.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See attached
Tax Annual Amount
4907
Legal Description
See attached
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Water front features
Pond
Water front
1
Amenities
outdoor bar
human foosball
hole in one game
fish feeding
Building Details
Year built
2018
Number of units
1
Roof type
Metal, Composition
Listing Agency:
EXP Realty (Grand Rapids)
(616) 901-3620
Listed By:
Joni McArthur · License #6501389679
(616) 894-1550
Added: Nov 11, 2025
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 25057883
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 property operates as a FootGolf course with additional recreation offerings, including a 3-par golf course and a frisbee golf course. It also includes a clubhouse with a kitchen and full bar, plus an indoor and outdoor event setup.
Located on Lincoln Lake Avenue NE in Gowen, Michigan (Kent County), the facility is described as being on a busy main road with strong visibility and accessibility.
The clubhouse hosts special events, and the on-site outdoor bar is described as overlooking a scenic pond. The property is also listed as featuring attractions including “human foosball,” a “hole in one” game, and a fish-feeding activity, with the course maintained by professionals.
Located on Lincoln Lake Avenue NE in Gowen, Michigan (Kent County), the facility is described as being on a busy main road with strong visibility and accessibility.
The clubhouse hosts special events, and the on-site outdoor bar is described as overlooking a scenic pond. The property is also listed as featuring attractions including “human foosball,” a “hole in one” game, and a fish-feeding activity, with the course maintained by professionals.
Key Highlights
- 2018‑built clubhouse with kitchen and full bar
- FootGolf course, 3‑par golf course, and frisbee golf course on‑site
- Indoor and outdoor areas, with the outdoor bar overlooking a pond
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
$26,026
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
4.16%
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%
$520,520
$520.5K
Cap Rate 7%
$371,800
$371.8K
Cap Rate 9%
$289,178
$289.2K
Market Conditions
NOI Build-Up for 2,340 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
$36.2K $15.48/SF
− Vacancy
−$1.5K −$0.65/SF
EGI
$34.7K $14.83/SF
− OpEx
−$8.7K −$3.71/SF
NOI
$26.0K $11.12/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$520,520
Cap Rate 7%
$371,800
Cap Rate 9%
$289,178
Alternative Uses
Best Use
Specialty Retail
$371.8K
$325.3K – $433.8K
NOI $26,026 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$418.5K
$366.2K – $488.3K
NOI $29,297 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,897 visits/mo
0.2 miles
Demographics for 49326, MI
3,830
Population
1,755
Households
2.2
Avg Household Size
46
Median Age
25%
College-Educated
89%
High-School Grad
24.1 sq mi
ZIP Area
159
Density / Sq Mi
$78,824
Median Household Income
$42,979
Median Earnings
$1,044
Median Rent
$194,500
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?
Golf course & driving range - Multi-course FootGolf and Frisbee golf property with a clubhouse, kitchen, and full bar for events and gatherings.
Where is this golf course & driving range located?
The property is located at 14620 Lincoln Lake Avenue NE Gowen, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2018‑built clubhouse with kitchen and full bar; FootGolf course, 3‑par golf course, and frisbee golf course on‑site; Indoor and outdoor areas, with the outdoor bar overlooking a pond
