Bar & Grill with Commercial
New
For Sale
$495,000
4397 Main Street, Brown City, MI 48416
COMMERCIAL - Brown City, MI
Property Size5,500 SF
Lot Size0.47 Acres
Price / SF$90
Days on Market4
Property Features for 4397 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Patio and Porch features
Patio
Exterior features
Deck/Patio
Subdivision
R G Browns Sub
Lot features
Main Street
Standard status
Active
APN
300-018-200-350-00
Size
5,500 SF
Lot size
0.47 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
entertainment room
band and stage area
on-site living area
Building Details
Year built
1977
Roof type
Shingle
Listing Agency:
REMAX Edge · RE/MAX International
(810) 653-5020
Listed By:
Stephanie Leland · License #122909
(810) 656-4984
Added: Aug 6
Last Checked: Aug 9 at 10:06PM
MLS# 50217615
Copyright © 2026 Multiple Listing Service MiRealSource. 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 bar and grill occupies a 5,500-square-foot building on 0.47 acres and includes a commercial kitchen, dining areas, an entertainment room, and a dedicated stage and band area. The property also provides an on-site living area, along with fenced patios at the front and rear. A Class C liquor license is included, supporting on-premises beer, wine, and spirits service. Forced-air heating, central air, a shingle roof, and public water are in place. Built in 1977, the property is configured for restaurant and bar operations with paved parking for customer use.
Located at 4397 Main Street in Brown City, Michigan, the property offers a furnished operating setting with interior dining and outdoor seating options. The combination of food-service infrastructure, entertainment space, liquor licensing, and on-site living accommodations supports a range of owner-operator or manager-led operating arrangements.
Located at 4397 Main Street in Brown City, Michigan, the property offers a furnished operating setting with interior dining and outdoor seating options. The combination of food-service infrastructure, entertainment space, liquor licensing, and on-site living accommodations supports a range of owner-operator or manager-led operating arrangements.
Key Highlights
- 5,500‑square‑foot bar and grill building on 0.47 acres
- Class C liquor license included for on‑premises beer, wine, and spirits service
- Commercial kitchen with dining and entertainment areas
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
Property Profile
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 - Established bar and grill with a Class C liquor license, entertainment room, stage, and fenced outdoor seating.
Where is this bar & pub located?
The property is located at 4397 Main Street 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‑square‑foot bar and grill building on 0.47 acres; Class C liquor license included for on‑premises beer, wine, and spirits service; Commercial kitchen with dining and entertainment areas
