New Buffalo Restaurant and
310 E Buffalo St, New Buffalo, MI 49112
Restaurant and office space near Lake Michigan for sale.
Type:Mixed Use, Retail
Property size:
4,206 SFLot size:
1.00 AcrePrice / SF:
$211/SF- Added:
- Apr 3, 2025
- Days on Market:
- 451
- Last Refresh:
- Mar 16 at 1:13 pm
Property Features for 310 E Buffalo St
General Information
- Standard status
- Active
- Size
- 4,206 SF
- Lot size
- 1.00 Acre
- Property subtype
- Mixed Use, Retail
Building Details
- Year Built
- 1930
Listing office At Home Realty Group
Listing date Apr 3, 2025
Source Crexi
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 At Home Realty Group
HighLights
- Transferable Class C (on‑premises) and Specially Designated Merchant (off‑premises) liquor licenses included.
- Prime location steps from Whitaker Street and Lake Michigan in New Buffalo's downtown.
- 3,346 sq ft restaurant and 860 sq ft office space included on nearly one acre.
- Located approximately 70 miles from downtown Chicago, offering accessibility to a major metropolitan market.
- Strong real estate market with a median home sold price of $662,000 as of March 2025, a 14.6% increase year‑over‑year.
- New Buffalo is a gateway to Michigan's Harbor Country, attracting tourists with beaches, wineries, and arts.
Overview
Located at 310 E Buffalo Street, New Buffalo, MI 49117, this property presents an investment opportunity. The nearly one-acre site includes a 3,346 sq ft restaurant and an 860 sq ft office space, suitable for development or immediate use. Transferable Class C (on-premises) and Specially Designated Merchant (off-premises) liquor licenses are included. The property is situated steps from Whitaker Street and Lake Michigan, providing access to New Buffalo's downtown and waterfront. New Buffalo is a gateway to Michigan's Harbor Country, attracting visitors with beaches, wineries, and a vibrant arts scene. The area's popularity ensures a steady influx of tourists, providing a solid customer base for hospitality businesses. Located approximately 70 miles from downtown Chicago, New Buffalo benefits from its accessibility to a large metropolitan population, enhancing its appeal as a weekend getaway and boosting local commerce. The property's combination of land area, existing structures, and transferable liquor licenses presents a unique opportunity for investors and entrepreneurs.
Local Financial Insights For Specialty Retail
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 | $65.1k | $15.48 |
| − Vacancy | −$2.7k | −$0.65 |
| EGI | $62.4k | $14.83 |
| − OpEx | −$15.6k | −$3.71 |
| NOI | $46.8k | $11.12 |
4,206 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$668.3K
$584.8K – $779.7K
NOI $46,781 @ 7.0% cap · market cap 5.26%
Second Best
Office B
$661.9K
$579.2K – $772.3K
NOI $46,335 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$885.1K
$774.4K – $1.03M
NOI $61,954 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- New Buffalo
- County
- Berrien
- State
- Michigan
- Longitude
- -86.739945
- Latitude
- 41.796077
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Restaurant and office space near Lake Michigan for sale.
Where is this mixed-use property located?
The property is located at 310 E Buffalo St New Buffalo, MI.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Transferable Class C (on‑premises) and Specially Designated Merchant (off‑premises) liquor licenses included.; **Prime location steps from Whitaker Street and Lake Michigan in New Buffalo's downtown.**; **3,346 sq ft restaurant and 860 sq ft office space included on nearly one acre.**
