Profitable Bar with Business
4512 E M 21 Corunna, MI 48817
4512 E M 21, Corunna, MI, 48817
Contact for pricing
For Sale
Contact for pricing
Fully equipped and staffed bar with potential for increased profitability.
Property Size4,510 SF
Price / SF$186.25
Days on Market648
Property Features for 4512 E M 21
General Information
- Standard status
- Active
- Size
- 4,510 SF
- Property subtype
- Business for Sale, Retail
Building Details
- Year Built
- 1960
Listing Agency
MBA Real Estate Services
(248) 620-8660
Listed by
Christopher Mersino · License #353012
Source
Crexi
Added: Oct 8, 2024 Checked: Jul 16 at 8:38 am
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
Investment Insights
Based on property information with market context.
This is a fully functional and profitable bar, equipped and staffed, 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, a DJ booth, pool tables, gaming machines, and an outdoor area. An upstairs office includes security equipment and a full bathroom with shower, and a balcony overlooking the parking lot. The 4,510 square foot property offers potential for increased sales. A new roof is planned for 2025.
Key Highlights
- Fully operational and profitable bar with existing staff and equipment.
- Land contract terms available.
- Includes a large, fully stocked bar, kitchen, and dining area.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.9k | $14.40 |
| − Vacancy | −$4.5k | −$1.01 |
| EGI | $60.4k | $13.39 |
| − OpEx | −$15.1k | −$3.35 |
| NOI | $45.3k | $10.04 |
4,510 SF · lease $14.40/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$647.1K
$566.2K – $755.0K
NOI $45,298 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$859.8K
$752.4K – $1.00M
NOI $60,189 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kooters in the Field
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Bar & Pub - Fully equipped and staffed bar with potential for increased profitability.
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 $840,000.
What are key features of this property?
This property features: Fully operational and profitable bar with existing staff and equipment.; Land contract terms available.; Includes a large, fully stocked bar, kitchen, and dining area.
