Waterfront Restaurant and
For Sale
$1,800,000
4168 W Houghton Lake Dr, Houghton Lake, MI 48629
Commercial kitchen, multiple bar areas, and event-oriented spaces support varied dining and entertainment operations.
Property Size8,400 SF
Price / SF$214.29
Days on Market54
Property Features for 4168 W Houghton Lake Dr
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Commercial
Additional Details
Patio
Yes
Amenities
horseshoe-shaped bar
four bar areas
second floor poker room
char broiler
flat-screen televisions
leather-furnished lounge area
entertainment stage
lakeside pavilion
sandy beach
lakeside dock
Building Details
Stories
2
Listing Agency:
CB Schmidt Houghton Lake.
(906) 420-3400
Listed By:
Ruth Anne Clemens · License #6506043271
(989) 429-3100
Source:
Puremichiganproperty
Added: Aug 24
Changed: Oct 7
Last Checked: Oct 14 at 10:29PM
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 CB Schmidt Houghton Lake.
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Investment Insights
Based on property information with market context.
This approximately 8,420-square-foot restaurant and lounge occupies a waterfront setting on Houghton Lake, with 152 feet along the shoreline. The layout includes four separate bar areas, including an interior horseshoe bar, a lower-level open-air bar, a three-sided lakeside pavilion bar, and another bar with entertainment space. A second-floor area originally configured as a poker room adds flexible space for private functions, gaming, entertainment, or seating.
The property also includes a commercial kitchen with professional equipment and a POS system, plus a dining-area char broiler designed for visible food preparation. Additional improvements include an approximately 560-square-foot open-air balcony, indoor and outdoor seating, flat-screen televisions, a leather-appointed lounge, an entertainment stage, sandy beach, dock, and multiple gathering areas. The building was constructed in 1980 and is zoned Commercial.
The property also includes a commercial kitchen with professional equipment and a POS system, plus a dining-area char broiler designed for visible food preparation. Additional improvements include an approximately 560-square-foot open-air balcony, indoor and outdoor seating, flat-screen televisions, a leather-appointed lounge, an entertainment stage, sandy beach, dock, and multiple gathering areas. The building was constructed in 1980 and is zoned Commercial.
Key Highlights
- 152 feet of Houghton Lake frontage
- Four distinct bar areas, including a 1,404‑square‑foot three‑sided lakeside pavilion bar
- Approximately 560‑square‑foot open‑air balcony overlooking Houghton Lake
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,951
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,020
$1.3M
Cap Rate 7%
$913,586
$913.6K
Cap Rate 9%
$710,567
$710.6K
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$117.9K $14.04/SF
− Vacancy
−$32.7K −$3.89/SF
EGI
$85.3K $10.15/SF
− OpEx
−$21.3K −$2.54/SF
NOI
$64.0K $7.61/SF
Area
Roscommon County, MI
Vacancy
27.70%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,020
Cap Rate 7%
$913,586
Cap Rate 9%
$710,567
Alternative Uses
Best Use
Specialty Retail
$913.6K
$799.4K – $1.07M
NOI $63,951 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,768 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48629, MI
7,420
Population
7,248
Households
1
Avg Household Size
56
Median Age
18%
College-Educated
90%
High-School Grad
77.5 sq mi
ZIP Area
96
Density / Sq Mi
$54,622
Median Household Income
$33,544
Median Earnings
$784
Median Rent
$142,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial kitchen, multiple bar areas, and event-oriented spaces support varied dining and entertainment operations.
Where is this conventional restaurant located?
The property is located at 4168 W Houghton Lake Dr Houghton Lake, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 152 feet of Houghton Lake frontage; Four distinct bar areas, including a 1,404‑square‑foot three‑sided lakeside pavilion bar; Approximately 560‑square‑foot open‑air balcony overlooking Houghton Lake
