Building Details

Year built 1977

Roof type Shingle

Listing Agency: REMAX Edge · RE/MAX International r***@aol.com Show Phone

Listed By: Stephanie Leland · License #122909 Show Phone

Added: Aug 6 Changed: Aug 19 Last Checked: Sep 24 at 11:06PM

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MLS# 50217615

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Investment Insights

Based on property information with market context.

This 5,500-square-foot bar and pub occupies a 0.47-acre parcel and includes a commercial kitchen, indoor dining space, and a separate entertainment room with a band area and stage. A Class C liquor license is included, covering on-premises retail sales of beer, wine, and spirits. The property also provides a dedicated living area within the building, along with fenced seating areas at the front and rear.

Built in 1977, the building has a patio, deck, paved parking, forced-air heating, central air conditioning, public water, and a shingle roof. Located at 4397 Main Street in Brown City, Michigan, the property combines hospitality, entertainment, outdoor seating, and on-site residential accommodations in one commercial setting.

Key Highlights

• 5,500‑square‑foot bar and pub on a 0.47‑acre parcel
• Class C liquor license included with the sale
• Commercial kitchen, indoor dining area, entertainment room, band area, and stage

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 (±1% cap)

NOI $55,836 @ 7.0% cap · market cap 11.28%

Second Best

Industrial

$420.1K

$367.6K – $490.1K (±1% cap)

NOI $29,406 @ 7.0% cap · market cap 5.94%

Theoretical Best

Office A

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,766 @ 7.0% cap · market cap 16.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

The Whiskey Jar Bar & Pub

Suggested Use

Top Pick Electrical Service Real Estate Agency Building Supply Nail Salon Barber Shop Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

147

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 0.1 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Includes a commercial kitchen, entertainment room, and dedicated on-site living area.

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 pub on a 0.47‑acre parcel; Class C liquor license included with the sale; Commercial kitchen, indoor dining area, entertainment room, band area, and stage