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    3510 W Cadillac Farwell, MI 48622

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    Claim this Listing
    New
    For Sale
    $349,900

    Business - Farwell, MI

    Type:Business
    Property size:
    1,612 SF
    Lot size:
    0.97 Acres
    Price / SF:
    $217/SF
    Added:
    Apr 28, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 29 at 9:06 am

    Property Features for 3510 W Cadillac

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Zoning
    Commercial
    Parking features
    Off Street, Parking Lot
    Interior features
    Concrete Floor, Drive-In, Fixtures, Floor Drain, Restroom(s)
    Standard status
    Active
    APN
    014-016-200-06
    Size
    1,612 SF
    Lot size
    0.97 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4368

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Flooring type
    Concrete
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    TROY CONDELL

    Listing agent TROY CONDELL License #6501204982

    Listing office CONDELL WONDER LAND 3701 N CLARE AVE, Harrison, MI

    Listing date Apr 28, 2026

    MLS# 50205631 Listing URL

    Copyright © 2026 Clare Gladwin Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turn-Key Restaurant Opportunity Near US-10

    This turn-key restaurant opportunity is located on busy M-115 just west of Farwell, right off the US-10 expressway exit. Known as Pit Stop Coney Island, this diner-style restaurant was built in 2001 and sits on nearly 1 acre. The 1,612 square foot building features a 29x27 dining area with seating for over 50 guests, a 14x20 fully updated kitchen (2025), plus an 8x7 prep office and 8x7 storage room. There is also a 5x21 freezer and storage area with a 3-door refrigerator and 3-door freezer. It includes a drive-thru window with an outdoor menu board. Outside, there is a large lighted street sign, four picnic tables for outdoor seating, and a spacious 25+ car recently coated blacktop circle driveway with room for trailer and RV parking. The property is well-lit with exterior building and parking lot lighting, and includes security cameras and an alarm system. Additional features include two outdoor accessible restrooms (10x7 and 6x9), plus an employee restroom inside, a new well installed in fall 2025, natural gas heat, central air unit, a makeup air unit, and a fire suppression system. The sale includes all fixtures and equipment as seen. The property is located in Clare County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Farwell
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9899036
    Latitude
    42.3729724

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant on M-115 with high visibility and traffic.
    Where is this conventional restaurant located?
    The property is located at 3510 W Cadillac Farwell, MI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Turn‑key restaurant opportunity: Includes all fixtures and equipment, ready to reopen with newer updated equipment.; Prime, high‑traffic location: Situated on busy M‑115, just west of Farwell, right off US‑10 expressway exit, between Farwell and Cadillac.; Updated Kitchen: Features a **14x20 fully updated kitchen (2025)**.
    (989) 539-2771
    We can help!
    Listing Contact
    TROY CONDELL
    Real Estate License ID: 6501204982
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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