Bar and Restaurant with Liquor
For Sale
$349,999
277 N Paw Paw Street, Coloma, MI 49038
Commercial Sale, Coloma, MI
Property Size1,516 SF
Lot Size0.04 Acres
Price / SF$230.87
Days on Market27
Property Features for 277 N Paw Paw Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Elementary school district
Coloma
Middle school district
Coloma
High school district
Coloma
Standard status
Active
APN
11-60-0340-0050-03-0
Size
1,516 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file
Legal Description
On file
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
1
Number of units
1
Building materials
Wood Siding, Brick
Roof type
Rubber
Listing Agency:
James Jilek Business Broker, Inc.
(269) 343-1601
Listed By:
Thomas Schmidt
(269) 760-8681
Added: Sep 16
Changed: Oct 9
Last Checked: Oct 12 at 1:06AM
MLS# 26054083
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,516-square-foot bar and restaurant occupies a 0.04-acre parcel in downtown Coloma. Built in 1930, the building has wood siding and brick, a rubber roof, two bathrooms, and a basement. Heating is forced air, and cooling is central air. Cable service is available.
The sale includes the building, fixtures, equipment, and a Class C/SDM liquor license. The building may also be purchased without the liquor license.
The sale includes the building, fixtures, equipment, and a Class C/SDM liquor license. The building may also be purchased without the liquor license.
Key Highlights
- 1,516‑square‑foot bar and restaurant on a 0.04‑acre lot
- Class C/SDM liquor license included; building may be sold separately
- Sale includes fixtures and equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,862
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,240
$337.2K
Cap Rate 7%
$240,886
$240.9K
Cap Rate 9%
$187,356
$187.4K
Market Conditions
NOI Build-Up for 1,516 SF
Gross rent
$23.5K $15.48/SF
− Vacancy
−$986 −$0.65/SF
EGI
$22.5K $14.83/SF
− OpEx
−$5.6K −$3.71/SF
NOI
$16.9K $11.12/SF
Area
Berrien 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%
$337,240
Cap Rate 7%
$240,886
Cap Rate 9%
$187,356
Alternative Uses
Best Use
Specialty Retail
$240.9K
$210.8K – $281.0K
NOI $16,862 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.0K
$279.1K – $372.2K
NOI $22,330 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
65k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Wesco
Shops & Services
12,028 visits/mo
0.1 miles
Dollar General
Shops & Services
8,675 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
7,924 visits/mo
0.4 miles
Shell
Shops & Services
7,838 visits/mo
0.4 miles
Mobil
Shops & Services
5,627 visits/mo
0.3 miles
Demographics for 49038, MI
8,979
Population
5,124
Households
1.8
Avg Household Size
45
Median Age
21%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
230
Density / Sq Mi
$60,396
Median Household Income
$41,663
Median Earnings
$944
Median Rent
$196,200
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
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Similar Off Market Nearby
- T's Tap — 277 N Paw Paw St, Coloma, MI 49038
- Pour House — 235 N Paw Paw St, Coloma, MI 49038
Frequently Asked Questions
What type of property is this?
Bar & Pub - A compact downtown venue includes two bathrooms, a basement, forced-air heating, and central air conditioning.
Where is this bar & pub located?
The property is located at 277 N Paw Paw Street Coloma, MI.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: 1,516‑square‑foot bar and restaurant on a 0.04‑acre lot; Class C/SDM liquor license included; building may be sold separately; Sale includes fixtures and equipment
