Historic Restaurant with
For Sale
$339,900
208 S Cochran Avenue, Charlotte, MI 48813
Restored interiors include exposed brick, a full-service bar, and indoor-outdoor seating.
Property Size1,848 SF
Price / SF$183.93
Days on Market493
Property Features for 208 S Cochran Avenue
General Information
Standard status
Active
Size
1,848 SF
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,271
Listing Agency:
Keller Williams Realty Lansing
(517) 853-1200
Listed By:
Max A Billinghurst · License #6501416838
(269) 339-1431
Source:
Exprealty
Added: Jun 11, 2025
Changed: Oct 15
Last Checked: Oct 15 at 1:14AM
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 Keller Williams Realty Lansing
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,848-square-foot conventional restaurant occupies a restored historic building at 208 S Cochran Avenue in downtown Charlotte, Michigan. Original ceilings and exposed brick remain part of the interior character, while the layout provides indoor seating, patio seating, and a full-service bar.
The sale includes the restaurant’s FF&E and a Class C Liquor License. The property combines an established restaurant configuration with distinctive historic-building features and a downtown Charlotte address.
The sale includes the restaurant’s FF&E and a Class C Liquor License. The property combines an established restaurant configuration with distinctive historic-building features and a downtown Charlotte address.
Key Highlights
- 1,848‑square‑foot restaurant in a restored historic building
- Original ceilings and exposed brick
- Indoor seating plus patio seating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,482
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,640
$409.6K
Cap Rate 7%
$292,600
$292.6K
Cap Rate 9%
$227,578
$227.6K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$33.3K $18.00/SF
− Vacancy
−$6.0K −$3.22/SF
EGI
$27.3K $14.78/SF
− OpEx
−$6.8K −$3.69/SF
NOI
$20.5K $11.08/SF
Area
Eaton County, MI
Vacancy
17.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,640
Cap Rate 7%
$292,600
Cap Rate 9%
$227,578
Alternative Uses
Best Use
Specialty Retail
$292.6K
$256.0K – $341.4K
NOI $20,482 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$21.28M
$18.62M – $24.82M
NOI $1,489,284 @ 7.0% cap · market cap 438.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48813, MI
21,068
Population
8,174
Households
2.6
Avg Household Size
42
Median Age
19%
College-Educated
93%
High-School Grad
168.1 sq mi
ZIP Area
125
Density / Sq Mi
$77,431
Median Household Income
$41,723
Median Earnings
$870
Median Rent
$178,500
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restored interiors include exposed brick, a full-service bar, and indoor-outdoor seating.
Where is this conventional restaurant located?
The property is located at 208 S Cochran Avenue Charlotte, MI.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 1,848‑square‑foot restaurant in a restored historic building; Original ceilings and exposed brick; Indoor seating plus patio seating
