Fully Equipped Conventional
For Sale
$1,500,000
16710 Lakeshore Rd, New Buffalo, MI 49117
Large dining facility with private rooms, catering infrastructure, and capacity for up to 300 guests.
Property Size12,471 SF
Price / SF$120.28
Days on Market72
Property Features for 16710 Lakeshore Rd
General Information
Standard status
Active
Size
12,471 SF
Restaurant
Seating Capacity
300
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Amenities
private dining rooms
Building Details
Year Built
1927
Listing Agency:
REMAX County Wide 1st
Listed By:
Daniel Kelley
(574) 876-8601
Source:
Amyboston.realtopiare
Added: Aug 4
Changed: Oct 6
Last Checked: Oct 7 at 4:21PM
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 REMAX County Wide 1st
Investment Insights
Based on property information with market context.
This conventional restaurant property includes 12,471 square feet and dates to 1927. More than 5,000 square feet is dedicated to a fully equipped kitchen designed for dining, catering, and special events. Equipment includes two prime rib cooking and warming ovens, three walk-in coolers, a walk-in freezer, a Hobart CRS 66 commercial dishwasher, multiple stoves, fryers, grills, and refrigerators. A separate catering and buffet preparation area supports event-oriented operations.
The dining facility accommodates up to 300 guests and provides several distinct dining areas along with private dining rooms. Additional included components are a Class C Resort Liquor License and an Outdoor Full-Service Patio Permit, subject to State of Michigan approval of the transfer.
The dining facility accommodates up to 300 guests and provides several distinct dining areas along with private dining rooms. Additional included components are a Class C Resort Liquor License and an Outdoor Full-Service Patio Permit, subject to State of Michigan approval of the transfer.
Key Highlights
- 12,471‑square‑foot restaurant property built in 1927
- More than 5,000 square feet of fully equipped kitchen space
- Dining facility accommodates up to 300 guests
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,716
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,114,320
$1.1M
Cap Rate 7%
$795,943
$795.9K
Cap Rate 9%
$619,067
$619.1K
Market Conditions
NOI Build-Up for 12,471 SF
Gross rent
$86.8K $6.96/SF
− Vacancy
−$7.2K −$0.58/SF
EGI
$79.6K $6.38/SF
− OpEx
−$23.9K −$1.91/SF
NOI
$55.7K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,114,320
Cap Rate 7%
$795,943
Cap Rate 9%
$619,067
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,707 @ 7.0% cap · market cap 9.25%
Second Best
Industrial
$795.9K
$696.5K – $928.6K
NOI $55,716 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$2.62M
$2.30M – $3.06M
NOI $183,696 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49117, MI
3,710
Population
3,790
Households
1
Avg Household Size
54
Median Age
46%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
195
Density / Sq Mi
$75,268
Median Household Income
$48,056
Median Earnings
$749
Median Rent
$448,400
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 - Large dining facility with private rooms, catering infrastructure, and capacity for up to 300 guests.
Where is this conventional restaurant located?
The property is located at 16710 Lakeshore Rd New Buffalo, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12,471‑square‑foot restaurant property built in 1927; More than 5,000 square feet of fully equipped kitchen space; Dining facility accommodates up to 300 guests
