Two-Level Restaurant
For Sale
$1,050,000
3459 S Us Highway 31, Brutus, MI 49716
The offering combines the real estate with restaurant equipment, furnishings, and a Class C Resort Liquor License.
Property Size8,400 SF
Price / SF$125
Days on Market11
Property Features for 3459 S Us Highway 31
General Information
Standard status
Active
Size
8,400 SF
Financials
Asking Price
$1,050,000
Business Included
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$2,779
Amenities
water feature
true
3
1
Broadband
Real Estate, Licenses, Furniture, Equipment
Well
4
360x480
false
Paved
8400
Building Details
Building Size
8,400 SF
Year Built
1990
Buildings
1
Stories
1
Listing Agency:
Van Treese Management LLC
(231) 373-7921
Listed By:
Christopher Skrobeck
(906) 360-4908
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 2:54PM
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 Van Treese Management LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4-acre restaurant property in Brutus includes a two-level building with dining space, an outdoor deck for seasonal seating, and views of a water feature. The sale also includes restaurant equipment and furnishings, a point-of-sale and phone system, back-office equipment, restaurant technology, beer system equipment, and a Class C Resort Liquor License. The building was constructed in 1990.
The property fronts S US Highway 31 and has a large paved parking area. The real estate and restaurant business assets are offered together.
The property fronts S US Highway 31 and has a large paved parking area. The real estate and restaurant business assets are offered together.
Key Highlights
- 4‑acre restaurant property in Brutus, Michigan
- Frontage on S US Highway 31
- Two‑level building with an outdoor deck and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,064
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,421,280
$1.4M
Cap Rate 7%
$1,015,200
$1.0M
Cap Rate 9%
$789,600
$789.6K
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$100.8K $12.00/SF
− Vacancy
−$6.0K −$0.72/SF
EGI
$94.8K $11.28/SF
− OpEx
−$23.7K −$2.82/SF
NOI
$71.1K $8.46/SF
Area
Emmet County, MI
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,421,280
Cap Rate 7%
$1,015,200
Cap Rate 9%
$789,600
Alternative Uses
Best Use
Specialty Retail
$1.02M
$888.3K – $1.18M
NOI $71,064 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.22M
NOI $133,070 @ 7.0% cap · market cap 12.67%
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
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49716, MI
775
Population
639
Households
1.2
Avg Household Size
55
Median Age
32%
College-Educated
95%
High-School Grad
22.9 sq mi
ZIP Area
34
Density / Sq Mi
$82,438
Median Household Income
$30,250
Median Earnings
$252,100
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The offering combines the real estate with restaurant equipment, furnishings, and a Class C Resort Liquor License.
Where is this conventional restaurant located?
The property is located at 3459 S Us Highway 31 Brutus, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4‑acre restaurant property in Brutus, Michigan; Frontage on S US Highway 31; Two‑level building with an outdoor deck and dining area
