Listing Agency: Nexes Realty, Inc.

Listed By: William Carlston · License #6506021186 Show Phone

Source: Carwm.resimplifi

Added: Sep 1 Changed: Oct 26 Last Checked: Nov 1 at 2:24AM

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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 Nexes Realty, Inc.

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Investment Insights

Based on property information with market context.

Wolf Lake Tavern is a 1,944-square-foot bar property built in 1940. The interior features an open layout suited to dancing, pool leagues, group gatherings, and other social activities. A walk-in cooler received new refrigeration equipment in 2025, adding a recent equipment improvement to the property.

The tavern is located at 27 S Wolf Lake Road in Muskegon, Michigan, within walking distance of Wolf Lake. The property also includes a large parking lot for customer use.

Key Highlights

• 1,944‑square‑foot bar property built in 1940
• Open interior layout supports dancing, pool leagues, and gatherings
• New refrigeration equipment installed on the walk‑in cooler in 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,622

Cap Rate

7.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$432,440 $432.4K

Cap Rate 7%

$308,886 $308.9K

Cap Rate 9%

$240,244 $240.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,944 SF

Gross rent

$30.1K $15.48/SF

− Vacancy

−$1.3K −$0.65/SF

EGI

$28.8K $14.83/SF

− OpEx

−$7.2K −$3.71/SF

NOI

$21.6K $11.12/SF

Area

Muskegon County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$432,440

Cap Rate 7%

$308,886

Cap Rate 9%

$240,244

Alternative Uses

Best Use

Specialty Retail

$308.9K

$270.3K – $360.4K (±1% cap)

NOI $21,622 @ 7.0% cap · market cap 7.21%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$18.26M

$15.97M – $21.30M (±1% cap)

NOI $1,277,932 @ 7.0% cap · market cap 426.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Big Box & Wholesale Store Auto Repair Shop Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 49442, MI

45,342

Population

17,759

Households

2.6

Avg Household Size

37

Median Age

11%

College-Educated

87%

High-School Grad

41.0 sq mi

ZIP Area

1,106

Density / Sq Mi

$50,069

Median Household Income

$33,257

Median Earnings

$889

Median Rent

$116,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Wolf Lake Tavern — 27 S Wolf Lake Rd, Muskegon, MI 49442

Frequently Asked Questions

What type of property is this?

Bar & Pub - Open-plan bar venue with a large parking area and recently upgraded walk-in cooler refrigeration.

Where is this bar & pub located?

The property is located at 27 S Wolf Lake Rd Muskegon, MI.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 1,944‑square‑foot bar property built in 1940; Open interior layout supports dancing, pool leagues, and gatherings; New refrigeration equipment installed on the walk‑in cooler in 2025