Operational Restaurant with
For Sale
Contact for pricing
152 S Water Street S, Marine City, MI 48039
Fully equipped kitchen and outdoor dining improvements support an existing restaurant configuration.
Property Size1,443 SF
Price / SF$187.04
Days on Market9
Property Features for 152 S Water Street S
General Information
Standard status
Active
Size
1,443 SF
Property subtype
Retail
Restaurant
Seating Capacity
80
Patio
Yes
Building Details
Year Built
1970
Listing Agency:
RE/MAX Noire
(586) 738-8778
Listed By:
Jessica Belanger Marine
Source:
Crexi
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 14 at 5:48AM
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 RE/MAX Noire
Investment Insights
Based on property information with market context.
This 1,443 SF restaurant property was built in 1970 and is configured for ongoing food-service use. The interior includes a fully equipped kitchen, two bathrooms, and seating capacity for 80 guests. A patio with a fire pit extends the usable dining area, while existing framing supports future enclosure of the outdoor space. A new fire suppression system has also been installed.
The property is located at 152 S Water Street S in downtown Marine City, steps from the waterfront. The seller currently operates a carryout restaurant from the building, providing an established restaurant setup for continued operation or a new concept.
The property is located at 152 S Water Street S in downtown Marine City, steps from the waterfront. The seller currently operates a carryout restaurant from the building, providing an established restaurant setup for continued operation or a new concept.
Key Highlights
- 1,443 SF restaurant building constructed in 1970
- Fully equipped kitchen with two bathrooms
- Seating capacity for 80 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
$19,986
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
7.40%
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%
$399,720
$399.7K
Cap Rate 7%
$285,514
$285.5K
Cap Rate 9%
$222,067
$222.1K
Market Conditions
NOI Build-Up for 1,443 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
$27.4K $18.96/SF
− Vacancy
−$711 −$0.49/SF
EGI
$26.6K $18.47/SF
− OpEx
−$6.7K −$4.62/SF
NOI
$20.0K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$399,720
Cap Rate 7%
$285,514
Cap Rate 9%
$222,067
Alternative Uses
Best Use
Specialty Retail
$285.5K
$249.8K – $333.1K
NOI $19,986 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.08M
$949.2K – $1.27M
NOI $75,936 @ 7.0% cap · market cap 28.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Dollar General
Shops & Services
5,544 visits/mo
0.3 miles
Jet's Pizza
Dining
1,344 visits/mo
0.2 miles
Demographics for 48039, MI
7,485
Population
3,701
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
92%
High-School Grad
23.0 sq mi
ZIP Area
325
Density / Sq Mi
$76,304
Median Household Income
$42,715
Median Earnings
$879
Median Rent
$170,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped kitchen and outdoor dining improvements support an existing restaurant configuration.
Where is this conventional restaurant located?
The property is located at 152 S Water Street S Marine City, MI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,443 SF restaurant building constructed in 1970; Fully equipped kitchen with two bathrooms; Seating capacity for 80 guests
