Bar and Grill with Live-Music
New
For Sale
$495,000
4397 MAIN ST, Brown City, MI 48416
Equipped commercial venue with kitchen, entertainment room, and on-site living area.
Property Size5,500 SF
Price / SF$90
Days on Market7
Property Features for 4397 MAIN ST
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Industrial
Restaurant
Patio
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Amenities
entertainment room
band stage
on-site living area
Central Air
Shingle
1446717765145140
Building Details
Year Built
1977
Listing Agency:
REMAX Edge
(810) 656-4984
Listed By:
Stephanie Leland · License #122909
(810) 656-4984
Source:
Xome
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 9:44AM
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 REMAX Edge
Investment Insights
Based on property information with market context.
This 5,500-square-foot bar and grill at 4397 Main St includes a commercial kitchen, dedicated entertainment room, and stage area configured for live music. The interior also provides dining space, while fenced seating areas extend along both the front and rear of the building. Central air is included, and the property was built in 1977.
A Class C liquor license is included, supporting on-premises service of beer, wine, and spirits. The site also offers paved parking and a dedicated living area that can accommodate an owner-operator or on-site manager. The property is located in Brown City, MI 48416.
A Class C liquor license is included, supporting on-premises service of beer, wine, and spirits. The site also offers paved parking and a dedicated living area that can accommodate an owner-operator or on-site manager. The property is located in Brown City, MI 48416.
Key Highlights
- 5,500 SF bar and grill with commercial kitchen
- Class C liquor license included for on‑premises beer, wine, and spirits
- Dedicated entertainment room with band and stage area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,406
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,120
$588.1K
Cap Rate 7%
$420,086
$420.1K
Cap Rate 9%
$326,733
$326.7K
Market Conditions
NOI Build-Up for 5,500 SF
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.
Gross rent
$44.2K $8.04/SF
− Vacancy
−$2.2K −$0.40/SF
EGI
$42.0K $7.64/SF
− OpEx
−$12.6K −$2.29/SF
NOI
$29.4K $5.35/SF
Area
Sanilac County, MI
Vacancy
5.00%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$588,120
Cap Rate 7%
$420,086
Cap Rate 9%
$326,733
Alternative Uses
Best Use
Specialty Retail
$797.7K
$698.0K – $930.6K
NOI $55,836 @ 7.0% cap · market cap 11.28%
Second Best
Industrial
$420.1K
$367.6K – $490.1K
NOI $29,406 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,766 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
4k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,787 visits/mo
0.4 miles
Sunoco
Shops & Services
358 visits/mo
0.2 miles
Demographics for 48416, MI
4,906
Population
2,068
Households
2.4
Avg Household Size
42
Median Age
13%
College-Educated
88%
High-School Grad
113.8 sq mi
ZIP Area
43
Density / Sq Mi
$68,650
Median Household Income
$38,405
Median Earnings
$854
Median Rent
$212,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Whiskey Jar — 4397 Main St, Brown City, MI 48416
Frequently Asked Questions
What type of property is this?
Bar & Pub - Equipped commercial venue with kitchen, entertainment room, and on-site living area.
Where is this bar & pub located?
The property is located at 4397 MAIN ST Brown City, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 5,500 SF bar and grill with commercial kitchen; Class C liquor license included for on‑premises beer, wine, and spirits; Dedicated entertainment room with band and stage area
