Turnkey Restaurant and Bar
W 265 W Saginaw Street Unit SourceFi Hemlock, MI 48626
For Sale
$315,000
Condo in a strip mall with a fully equipped commercial kitchen, bar, 88-seat dining area, and dedicated entertainment space.
Property Size3,845 SF
Price / SF$81.92
Days on Market8
Property Features for W 265 W Saginaw Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 3,845 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2000
Listing Agency:
Berkshire Hathaway HomeServices
(989) 397-7822
Listed By:
Abby Enszer
(989) 397-7822
Source:
Xome
Added: Jul 18
Changed: Jul 24
Last Checked: Jul 25 at 3:07AM
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 Berkshire Hathaway HomeServices
Investment Insights
Based on property information with market context.
This established restaurant condo is located within a strip mall and is offered turnkey with the building, a Class C liquor license, and all equipment. The interior includes a fully equipped commercial kitchen, a spacious bar area, and a comfortable dining room with 88 seating capacity, along with restrooms and a private office. A dedicated entertainment space supports live music, DJs, or special events, and the layout also includes outside seating through a patio and deck.
The property is situated at 265 W. Saginaw Street Unit SourceFi in Hemlock, MI, along a well-traveled corridor with easy access and strong visibility.
With its combination of dining, bar, entertainment, and commercial kitchen infrastructure, the space is designed to support a range of hospitality uses such as restaurant, bar, banquet or event venue, and brewery, along with other commercial concepts consistent with the existing buildout.
The property is situated at 265 W. Saginaw Street Unit SourceFi in Hemlock, MI, along a well-traveled corridor with easy access and strong visibility.
With its combination of dining, bar, entertainment, and commercial kitchen infrastructure, the space is designed to support a range of hospitality uses such as restaurant, bar, banquet or event venue, and brewery, along with other commercial concepts consistent with the existing buildout.
Key Highlights
- Condo in a strip mall on W. Saginaw Street in Hemlock, featuring a fully equipped commercial kitchen.
- Restaurant layout includes a spacious bar area and a comfortable dining room with 88 seating capacity.
- Dedicated entertainment space suitable for live music, DJs, or special events.
Financial Insights For Industrial
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 | $34.6k | $9.00 |
| − Vacancy | −$2.4k | −$0.63 |
| EGI | $32.2k | $8.37 |
| − OpEx | −$9.7k | −$2.51 |
| NOI | $22.5k | $5.86 |
3,845 SF · lease $9.00/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$760.8K
$665.7K – $887.6K
NOI $53,254 @ 7.0% cap · market cap 16.91%
Second Best
Industrial
$321.8K
$281.6K – $375.5K
NOI $22,528 @ 7.0% cap · market cap 7.15%
Theoretical Best
Multifamily LT 5
$2.89M
$2.53M – $3.37M
NOI $202,338 @ 7.0% cap · market cap 64.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Condo in a strip mall with a fully equipped commercial kitchen, bar, 88-seat dining area, and dedicated entertainment space.
Where is this conventional restaurant located?
The property is located at W 265 W Saginaw Street Unit SourceFi Hemlock, MI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Condo in a strip mall on W. Saginaw Street in Hemlock, featuring a fully equipped commercial kitchen.; Restaurant layout includes a spacious bar area and a comfortable dining room with 88 seating capacity.; Dedicated entertainment space suitable for live music, DJs, or special events.
