Established Restaurant with Equipped
For Sale
$475,000
3263 E Colby Street, Whitehall, MI 49461
Commercial Sale, Whitehall, MI
Property Size3,300 SF
Price / SF$143.94
Days on Market555
Property Features for 3263 E Colby Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Whitehall
Middle school district
Whitehall
High school district
Whitehall
Directions
Take US 31 to Colby Street, head west on Colby, then turn south at the blinking light.
Subdivision
Muskegon County - M
Standard status
Active
APN
61-03-027-200-0017-00
Size
3,300 SF
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Floors in Building
1
Number of units
3
Building materials
Concrete, Brick
Roof type
Metal
Listing Agency:
Town Square Real Estate Group
(231) 730-1658
Listed By:
Christopher Wenk · License #6501435305
(231) 327-4697
Added: Apr 4, 2025
Changed: Oct 2
Last Checked: Oct 10 at 8:06AM
MLS# 25013490
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 conventional restaurant operation occupies 3,300 square feet and includes a dining area, two bathrooms, and a fully equipped kitchen. The sale includes the business, equipment, and goodwill; the real estate is excluded. Concrete and brick construction, a metal roof, forced-air heat, central air conditioning, broadband, and cable availability are also included among the reported features.
The restaurant is located at 3263 E Colby Street in Whitehall, Michigan, just off a major highway and near a strip mall and other businesses. The operation dates to 1970 and serves both local customers and travelers.
The restaurant is located at 3263 E Colby Street in Whitehall, Michigan, just off a major highway and near a strip mall and other businesses. The operation dates to 1970 and serves both local customers and travelers.
Key Highlights
- 3,300‑square‑foot conventional restaurant operation
- Business sale includes equipment and goodwill; real estate excluded
- Established in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,704
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,080
$734.1K
Cap Rate 7%
$524,343
$524.3K
Cap Rate 9%
$407,822
$407.8K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$51.1K $15.48/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$48.9K $14.83/SF
− OpEx
−$12.2K −$3.71/SF
NOI
$36.7K $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%
$734,080
Cap Rate 7%
$524,343
Cap Rate 9%
$407,822
Alternative Uses
Best Use
Specialty Retail
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$30.99M
$27.12M – $36.16M
NOI $2,169,329 @ 7.0% cap · market cap 456.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Electronics 18%
BIGGBY COFFEE
Dining
6,064 visits/mo
0.2 miles
Verizon
Electronics
1,323 visits/mo
0.2 miles
Demographics for 49461, MI
9,295
Population
4,220
Households
2.2
Avg Household Size
47
Median Age
30%
College-Educated
97%
High-School Grad
43.2 sq mi
ZIP Area
215
Density / Sq Mi
$80,495
Median Household Income
$42,249
Median Earnings
$874
Median Rent
$245,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with dining space, commercial kitchen equipment, and central air conditioning.
Where is this conventional restaurant located?
The property is located at 3263 E Colby Street Whitehall, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,300‑square‑foot conventional restaurant operation; Business sale includes equipment and goodwill; real estate excluded; Established in 1970
