Bar & Pub With Living
For Sale
$549,995
321 Chartier, Marine City, MI 48039
Operating hospitality property with a two-bedroom, two-bath residence above the commercial space.
Property Size1,889 SF
Price / SF$291.16
Days on Market215
Property Features for 321 Chartier
General Information
Standard status
Active
Size
1,889 SF
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,623
Building Details
Building Size
1,889 SF
Year Built
1900
Stories
2
Listing Agency:
Showtime Realty
(586) 855-1013
Listed By:
Timothy Block · License #6501430537
(586) 855-1013
Source:
Sabudarealty
Added: Jan 27
Changed: Aug 30
Last Checked: Jul 20 at 11:02PM
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 Showtime Realty
Investment Insights
Based on property information with market context.
The Little Bar Restaurant combines an operating bar and restaurant with the underlying building and property. The sale includes the restaurant business, liquor license, furnishings and other contents, along with upgraded dining areas and restaurant equipment. Improvements include a whole-building furnace, kitchen refrigeration, cooktops and ovens.
A full living area occupies the level above the commercial space, with two bedrooms and two bathrooms. The property is located at 321 Chartier in Marine City, a waterfront community in St. Clair County, and carries Commercial zoning. Built in 1900, the offering brings together hospitality operations and on-site residential quarters in one property.
A full living area occupies the level above the commercial space, with two bedrooms and two bathrooms. The property is located at 321 Chartier in Marine City, a waterfront community in St. Clair County, and carries Commercial zoning. Built in 1900, the offering brings together hospitality operations and on-site residential quarters in one property.
Key Highlights
- Operating bar and restaurant business included with the building and property
- Liquor license, furnishings, contents and restaurant equipment convey
- Two‑bedroom, two‑bath living space above the commercial area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,163
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,260
$523.3K
Cap Rate 7%
$373,757
$373.8K
Cap Rate 9%
$290,700
$290.7K
Market Conditions
NOI Build-Up for 1,889 SF
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.
Gross rent
$35.8K $18.96/SF
− Vacancy
−$931 −$0.49/SF
EGI
$34.9K $18.47/SF
− OpEx
−$8.7K −$4.62/SF
NOI
$26.2K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,260
Cap Rate 7%
$373,757
Cap Rate 9%
$290,700
Alternative Uses
Best Use
Specialty Retail
$373.8K
$327.0K – $436.1K
NOI $26,163 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,406 @ 7.0% cap · market cap 18.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Dollar General
Shops & Services
5,544 visits/mo
0.1 miles
Jet's Pizza
Dining
1,344 visits/mo
0.1 miles
Demographics for 48039, MI
7,485
Population
3,701
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
92%
High-School Grad
23.0 sq mi
ZIP Area
325
Density / Sq Mi
$76,304
Median Household Income
$42,715
Median Earnings
$879
Median Rent
$170,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Little Bar Restaurant of Marine City — 321 Chartier Rd, Marine City, MI 48039
- Gord's — 514 S Water St, Marine City, MI 48039
- Marine City Fish Company — 240 S Water St, Marine City, MI 48039
- The Snug Theatre — 160 S Water St, Marine City, MI 48039
- RiverPlace Art Pavilion — 170 S Water St, Marine City, MI 48039
Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating hospitality property with a two-bedroom, two-bath residence above the commercial space.
Where is this bar & pub located?
The property is located at 321 Chartier Marine City, MI.
What is the asking price?
The asking price for this property is $549,995.
What are key features of this property?
This property features: Operating bar and restaurant business included with the building and property; Liquor license, furnishings, contents and restaurant equipment convey; Two‑bedroom, two‑bath living space above the commercial area
