Profitable Bar with
4512 E M 21, Corunna, MI 48817
For Sale
$739,900
Fully equipped bar with dining, dance floor, and outdoor area.
Property Size4,510 SF
Lot Size4.00 Acres
Days on Market349
Property Features for 4512 E M 21
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
MBA Real Estate Services
Listed By:
Robert Condie · License MI #6501417622
(810) 678-9298
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 19 at 6:29AM
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 MBA Real Estate Services
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Investment Insights
Based on property information with market context.
This is a fully functional and profitable bar ready for new ownership. The property includes a large, fully stocked bar, a kitchen, and a large dining area. It also features a permitted dance floor and DJ booth, pool tables, gaming machines, and an outdoor area. An upstairs office contains security equipment, a balcony overlooking the parking lot, and a full bathroom with shower. The bar is staffed, equipped, and currently operating, presenting an opportunity to add personal touches and potentially increase profitability. The sale includes all existing equipment and fixtures. The property is located in Caledonia Charter Township, Shiawassee, MI.
Key Highlights
- Fully functional and profitable bar ready for immediate operation.
- Includes all equipment, staff, and inventory.
- Features a large, fully stocked bar, kitchen, and dining area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,818
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,360
$936.4K
Cap Rate 7%
$668,829
$668.8K
Cap Rate 9%
$520,200
$520.2K
Market Conditions
NOI Build-Up for 4,510 SF
Gross rent
$69.8K $15.48/SF
− Vacancy
−$2.9K −$0.65/SF
EGI
$66.9K $14.83/SF
− OpEx
−$20.1K −$4.45/SF
NOI
$46.8K $10.38/SF
Area
Shiawassee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,360
Cap Rate 7%
$668,829
Cap Rate 9%
$520,200
Alternative Uses
Best Use
Retail
$668.8K
$585.2K – $780.3K
NOI $46,818 @ 7.0% cap · market cap 6.33%
Second Best
Specialty Retail
$647.1K
$566.2K – $755.0K
NOI $45,298 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$859.8K
$752.4K – $1.00M
NOI $60,189 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48817, MI
5,714
Population
2,513
Households
2.3
Avg Household Size
45
Median Age
16%
College-Educated
96%
High-School Grad
58.9 sq mi
ZIP Area
97
Density / Sq Mi
$57,468
Median Household Income
$39,300
Median Earnings
$879
Median Rent
$164,200
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully equipped bar with dining, dance floor, and outdoor area.
Where is this bar & pub located?
The property is located at 4512 E M 21 Corunna, MI.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Fully functional and profitable bar ready for immediate operation.; Includes all equipment, staff, and inventory.; Features a large, fully stocked bar, kitchen, and dining area.
