Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3556 E HIGGINS LAKE Roscommon, MI 48653

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $220,000

    Cozy 40-seat restaurant with loyal customer base.

    Type:Industrial
    Added:
    Oct 24, 2024
    Days on Market:
    530
    Last Refresh:
    Apr 1 at 9:39 pm

    Property Features for 3556 E HIGGINS LAKE

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Scott Myers

    Listing agent Scott Myers

    Listing office RE/MAX Platinum

    Listing date Oct 24, 2024

    Source Xome

    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 RE/MAX Platinum

    Overview

    Established Restaurant Near Higgins Lake

    This established restaurant, seating 40 guests, is situated in the Higgins Lake and Houghton Lake area. The property features a compact, efficient kitchen and has been a local dining destination for over 60 years, known for its homemade meals and pies. It is located near approximately 1,000 state park campsites and numerous cottages. The sale includes all equipment except for one table. The restaurant presents a potential opportunity for continued operation.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Roscommon
    County
    Roscommon
    State
    Michigan
    Longitude
    -84.6042
    Latitude
    44.5111

    Nearby Similar for Sale

    • $379,900
      1,586 SF

      Established Diner Near Higgins Lake

      Turnkey restaurant with strong community support and multiple revenue streams.
      5937 W Higgins Lake, Roscommon, MI 48653
      View Details
    • $190,000
      3,236 SF

      Higgins Lake Commercial Opportunity

      Commercial building with liquor license near Higgins Lake.
      9963 W Higgins Lake Drive, Roscommon, MI 48653
      View Details
    • $65,000

      Spacious Condo Garage Unit

      20x50 condo garage unit with drive-through layout for sale.
      North Flint Road, Roscommon, MI 48653
      View Details
    • $499,000
      9,300 SF

      Roscommon Retail Store For Sale

      9300 SF commercial building in high-visibility location.
      425 N Fifth Street, Roscommon, MI 48653
      View Details
    • $269,900
      2,983 SF

      Higgins Lake Mixed-Use Opportunity

      Versatile property near Higgins Lake with multiple income streams.
      10028 W Higgins Lake, Roscommon, MI 48653
      View Details
    • $99,000
      2,100 SF

      Commercial Income Property in Roscommon

      Two-unit commercial property with excellent visibility in Roscommon, Michigan.
      412 N Fifth Street, Roscommon, MI 48653
      View Details
    • $1,500,000
      14,392 SF

      Iconic Restaurant and Bowling Alley

      Established restaurant and bowling alley in Northern Michigan resort area.
      430 & 422 N 5th Street, Higgins Twp, MI 48653
      View Details
    • $65,000

      Spacious Condo Garage Unit

      20x50 condo garage unit with drive-through layout for sale.
      Roscommon, MI 48653
      View Details
    • $400,000
      7,311 SF

      Roscommon Retail Space Available

      Retail space for sale in Roscommon, Michigan.
      701 Lake Street, Roscommon, MI, 48653
      View Details
    • $745,000
      2,428 SF

      Higgins Lake Tourist Corridor Business

      Business with multiple revenue streams in premier tourist corridor.
      1857 W Higgins Lake Dr, Roscommon, MI 48653
      View Details
    • $250,000

      Commercial Property with Living Quarters

      Commercial property in Roscommon, MI with on-site living quarters.
      1775 N M-18, Roscommon, MI 48653
      View Details
    • $125,000
      1,344 SF

      Top-Floor Condo with Nature Views

      Bright condo with two suites, nature views, and garage.
      102C Village Place Drive, Higgins Twp, MI 48653
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Cozy 40-seat restaurant with loyal customer base.
    Where is this conventional restaurant located?
    The property is located at 3556 E HIGGINS LAKE Roscommon, MI.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Established restaurant with a 60+ year history and loyal customer base; Prime location between Higgins Lake and Houghton Lake, near state park campsites and cottages; Seating capacity for 40 guests
    (810) 695-4111
    We can help!
    Listing Contact
    Scott Myers
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!