Freestanding Restaurant with Outdoor
For Sale
Under Contract
$875,000
16409 Red Arrow Highway, Union Pier, MI 49129
Commercial Sale, Union Pier, MI
Property Size6,847 SF
Lot Size2.51 Acres
Price / SF$127.79
Days on Market405
Property Features for 16409 Red Arrow Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bathroom 1, Bathroom 3
Elementary school district
New Buffalo
Middle school district
New Buffalo
High school district
New Buffalo
Directions
Directly off Red Arrow Highway
Subdivision
Southwestern Michigan - S
Standard status
Active Under Contract
APN
11-13-0336-0066-04-0
Size
6,847 SF
Lot size
2.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Per Title Commitment
Tax Annual Amount
10570
Legal Description
Per Title Commitment
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Number of units
1
Building materials
Stucco
Roof type
Rubber, Composition
Listing Agency:
Realty Executives Instant Equity · Realty Executives International
(269) 983-7721
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Added: Aug 28, 2025
Changed: Sep 16
Last Checked: Oct 6 at 5:06AM
MLS# 25043954
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 6,847-square-foot restaurant property occupies 2.51 acres and includes a main dining room, bar area, additional seating for private parties, and outdoor seating. The building dates to 1900 and features stucco construction, forced-air heating, central air, rubber and composition roofing, a basement, and three bathrooms.
Located at 16409 Red Arrow Highway in Union Pier, Michigan, the property includes cable availability and is positioned within a lakeside community that attracts seasonal tourists and local diners. The sale includes restaurant equipment, licensing, and operating systems, supporting a transition to continued restaurant use.
Located at 16409 Red Arrow Highway in Union Pier, Michigan, the property includes cable availability and is positioned within a lakeside community that attracts seasonal tourists and local diners. The sale includes restaurant equipment, licensing, and operating systems, supporting a transition to continued restaurant use.
Key Highlights
- 6,847‑square‑foot restaurant on 2.51 acres
- Main dining area, bar, private‑event seating, and outdoor seating
- Restaurant equipment, licensing, and operating systems included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,155
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,523,100
$1.5M
Cap Rate 7%
$1,087,929
$1.1M
Cap Rate 9%
$846,167
$846.2K
Market Conditions
NOI Build-Up for 6,847 SF
Gross rent
$106.0K $15.48/SF
− Vacancy
−$4.5K −$0.65/SF
EGI
$101.5K $14.83/SF
− OpEx
−$25.4K −$3.71/SF
NOI
$76.2K $11.12/SF
Area
Berrien 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 Rate 5%
$1,523,100
Cap Rate 7%
$1,087,929
Cap Rate 9%
$846,167
Alternative Uses
Best Use
Specialty Retail
$1.09M
$951.9K – $1.27M
NOI $76,155 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,855 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49129, MI
736
Population
1,114
Households
0.7
Avg Household Size
58
Median Age
70%
College-Educated
94%
High-School Grad
5.0 sq mi
ZIP Area
147
Density / Sq Mi
$104,000
Median Household Income
$46,964
Median Earnings
$586,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with dining, bar, private-event seating, and an additional outdoor area.
Where is this conventional restaurant located?
The property is located at 16409 Red Arrow Highway Union Pier, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 6,847‑square‑foot restaurant on 2.51 acres; Main dining area, bar, private‑event seating, and outdoor seating; Restaurant equipment, licensing, and operating systems included
