Turnkey Landmark
16409 Red Arrow Highway Union Pier, MI 49129
For Sale
$875,000
Turnkey restaurant with a main dining room, bar area, flexible seating, and outdoor seating for events.
Property Size6,847 SF
Price / SF$127.79
Days on Market330
Property Features for 16409 Red Arrow Highway
General Information
- Standard status
- Active
- Size
- 6,847 SF
- Property subtype
- Business Opportunity
Building Details
- Year Built
- 1900
Listing Agency:
Realty Executives Instant Equity
(269) 208-8996
Listed By:
Jill Golden · License #6501424803
(269) 208-8996
Source:
Homesforsaleinmich
Added: Aug 28, 2025
Changed: Jul 21
Last Checked: Jul 23 at 6:13AM
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 Realty Executives Instant Equity
Investment Insights
Based on property information with market context.
This thoughtfully designed landmark restaurant offers approximately 6,847 square feet of operating space, including a spacious main dining area and a well-appointed bar area. Additional seating is available for private-party use, supporting flexible interior layouts for different dining occasions. The property also features an outdoor seating area that extends the guest experience beyond the interior.
Located in the heart of Union Pier within New Buffalo Township, the property benefits from the area’s established lakeside dining setting. The offering is described as turn-key, with complete operations in place, including equipment, licensing, and systems available for a seamless ownership transition.
Overall, the restaurant is positioned as a ready-to-operate foodservice business with both indoor and outdoor customer seating and built-in operational infrastructure.
Located in the heart of Union Pier within New Buffalo Township, the property benefits from the area’s established lakeside dining setting. The offering is described as turn-key, with complete operations in place, including equipment, licensing, and systems available for a seamless ownership transition.
Overall, the restaurant is positioned as a ready-to-operate foodservice business with both indoor and outdoor customer seating and built-in operational infrastructure.
Key Highlights
- Landmark restaurant in Union Pier, Michigan, with 6,847 SF of space
- Built in 1900
- Main dining area plus a well‑appointed bar area
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.0k | $15.48 |
| − Vacancy | −$4.5k | −$0.65 |
| EGI | $101.5k | $14.83 |
| − OpEx | −$25.4k | −$3.71 |
| NOI | $76.2k | $11.12 |
6,847 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Wine Sellers Inc
Specialty Food Shop
Timothy's Restaurant
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant with a main dining room, bar area, flexible seating, and outdoor seating for events.
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: Landmark restaurant in Union Pier, Michigan, with 6,847 SF of space; Built in 1900; Main dining area plus a well‑appointed bar area
