SDM Resort License
For Sale
$135,000
208 Napoleon Road, Michigan Center, MI 49254
For sale SDM resort license only, enabling beer & wine service or beer & wine tasting at your location.
Property Size1,329 SF
Days on Market52
Property Features for 208 Napoleon Road
General Information
Standard status
Active
Size
1,329 SF
Property subtype
Commercial
Additional Details
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$908
Building Details
Building Size
1,329 SF
Year Built
1977
Units
1
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 474-2372
Listed By:
GEORGE D COPP · License #6502352375
(517) 474-2372
Source:
Carolbollo
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 23 at 4:13AM
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 ERA Reardon Realty, L.L.C.
Investment Insights
Based on property information with market context.
This offering is for an SDM Resort License only. The sale does not include any real estate. The license is intended to support alcohol-related hospitality activity tied to your existing location and operating setup.
The opportunity is listed for sale at 208 Napoleon Rd in Michigan Center, MI. The information provided indicates the license can be used to carry out beer & wine, or to use the site for beer & wine tasting.
For buyers who already control the underlying property or plan to operate within an existing licensed location, this can be a focused licensing transaction aligned with beer and wine service or tasting use. It is important to note again that the package does not include real estate, so prospective buyers should confirm their property requirements and permitting for the intended use before proceeding.
The opportunity is listed for sale at 208 Napoleon Rd in Michigan Center, MI. The information provided indicates the license can be used to carry out beer & wine, or to use the site for beer & wine tasting.
For buyers who already control the underlying property or plan to operate within an existing licensed location, this can be a focused licensing transaction aligned with beer and wine service or tasting use. It is important to note again that the package does not include real estate, so prospective buyers should confirm their property requirements and permitting for the intended use before proceeding.
Key Highlights
- For sale SDM resort license only (no real estate included)
- License allows beer & wine service at your location
- Can also be used for beer & wine tasting at your location
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
$6,250
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
4.63%
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%
$125,000
$125.0K
Cap Rate 7%
$89,286
$89.3K
Cap Rate 9%
$69,444
$69.4K
Market Conditions
NOI Build-Up for 1,329 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
$23.9K $18.00/SF
− Vacancy
−$10.8K −$8.10/SF
EGI
$13.2K $9.90/SF
− OpEx
−$6.9K −$5.20/SF
NOI
$6.2K $4.70/SF
Area
Jackson County, MI
Vacancy
45.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$125,000
Cap Rate 7%
$89,286
Cap Rate 9%
$69,444
Alternative Uses
Best Use
Hotel Hospitality
$89.3K
$78.1K – $104.2K
NOI $6,250 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$212.2K
$185.6K – $247.5K
NOI $14,851 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 49254, MI
3,163
Population
1,805
Households
1.8
Avg Household Size
44
Median Age
22%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
1,217
Density / Sq Mi
$73,750
Median Household Income
$50,923
Median Earnings
$1,038
Median Rent
$167,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - For sale SDM resort license only, enabling beer & wine service or beer & wine tasting at your location.
Where is this resort located?
The property is located at 208 Napoleon Road Michigan Center, MI.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: For sale SDM resort license only (no real estate included); License allows beer & wine service at your location; Can also be used for beer & wine tasting at your location
