Established Restaurant with Local
370 N State Street Sparta, MI 49345
370 N State Street, Sparta, MI, 49345
$474,000
For Sale
$474,000
COMMERCIAL - Sparta, MI
Property Size1,374 SF
Lot Size0.51 Acres
Price / SF$344.98
Days on Market949
Property Features for 370 N State Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Interior features
- Broadband
- Standard status
- Active
- APN
- 41-05-14-301-002
- Size
- 1,374 SF
- Lot size
- 0.51 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- COM 596 FT W OF NW COR OF MI LL & MARK STS TH N TO S LINE O F GT RR R/W TH W TO W LINE OF SEC TH S TO N LINE OF MA
- Tax Annual Amount
- 3063
Utilities
- Heating system
- Forced Air
- Cooling system
- Wall Unit(s), Central Air
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Vinyl Siding
- Roof type
- Composition
Listing Agency
Eggerding Inc., Arthur K.
(616) 453-7655
3345 Remembrance Rd. NW, MI
Listed by
Brynadette Powell · License #6501358745
(616) 835-2624
Added: Dec 11, 2023 Checked: Jul 17 at 1:06 am
MLS# 23144570
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 long-standing restaurant, cherished by the local military community, offers a hometown culinary experience. Under the same ownership for over 20 years, the sale includes all equipment and the established name. The property size is 1374 square feet and it sits on a 0.51-acre lot. Located in Sparta, Michigan, the restaurant is situated on N State Street. New flooring is planned for November 24, 2025. The property presents an opportunity to own a piece of local history and continue a thriving restaurant with a genuine connection to the community. Possible land contract is available.
Key Highlights
- Established restaurant with over 20 years of dedicated ownership.
- Includes all equipment and the business's name.
- Strong local roots and cherished by the military community.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $15.48 |
| − Vacancy | −$893 | −$0.65 |
| EGI | $20.4k | $14.83 |
| − OpEx | −$5.1k | −$3.71 |
| NOI | $15.3k | $11.12 |
1,374 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$203.8K
$178.3K – $237.7K
NOI $14,263 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$245.7K
$215.0K – $286.7K
NOI $17,202 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Maxine's Family Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Restaurant - Long-standing restaurant with equipment and name included in sale.
Where is this restaurant located?
The property is located at 370 N State Street Sparta, MI.
What is the asking price?
The asking price for this property is $474,000.
What are key features of this property?
This property features: Established restaurant with over 20 years of dedicated ownership.; Includes all equipment and the business's name.; Strong local roots and cherished by the military community.
