Building Details

Year Built 1988

Tenancy Multi

Listing Agency: Wright Properties

Listed By: Kerry M Wright · License #6506043362 Show Phone

Source: Katie-k

Added: Aug 23 Changed: Oct 5 Last Checked: Oct 7 at 1:22PM

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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 Wright Properties

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Investment Insights

Based on property information with market context.

This 763-square-foot commercial unit is configured for restaurant or diner use and is currently operating in that capacity. The space is one of three individual units within the building, offering a defined component of a multi-unit commercial property.

Constructed in 1988, the property is located at 4514 Lake St in Bridgman, Michigan. The unit is offered separately from the other portions of the building.

Key Highlights

• 763 SF restaurant/diner unit
• Currently used as a restaurant and diner
• One of three units in the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,486

Cap Rate

6.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,720 $169.7K

Cap Rate 7%

$121,229 $121.2K

Cap Rate 9%

$94,289 $94.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 763 SF

Gross rent

$11.8K $15.48/SF

− Vacancy

−$496 −$0.65/SF

EGI

$11.3K $14.83/SF

− OpEx

−$2.8K −$3.71/SF

NOI

$8.5K $11.12/SF

Area

Berrien County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,720

Cap Rate 7%

$121,229

Cap Rate 9%

$94,289

Alternative Uses

Best Use

Specialty Retail

$121.2K

$106.1K – $141.4K (±1% cap)

NOI $8,486 @ 7.0% cap · market cap 6.79%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$160.6K

$140.5K – $187.3K (±1% cap)

NOI $11,239 @ 7.0% cap · market cap 8.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Molly's Beach Walk Restaurant

Suggested Use

Top Pick Real Estate Agency Hair Salon Building Supply Law Firm Pharmacy HVAC Service

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

18k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 73% Dining 27%

Speedway Shops & Services

5,565 visits/mo 0.4 miles

Dollar General Shops & Services

4,317 visits/mo 0.5 miles

SUBWAY Dining

3,841 visits/mo 0.1 miles

United Federal Credit Union Shops & Services

2,261 visits/mo 0.1 miles

Super Wash Shops & Services

1,340 visits/mo 0.2 miles

Demographics for 49106, MI

4,822

Population

2,472

Households

2

Avg Household Size

48

Median Age

30%

College-Educated

96%

High-School Grad

14.7 sq mi

ZIP Area

328

Density / Sq Mi

$75,064

Median Household Income

$40,108

Median Earnings

$1,139

Median Rent

$243,400

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

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Contact for pricing

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Similar Off Market Nearby

• Lydia's Down Home Cooking — 9804 Red Arrow Hwy, Bridgman, MI 49106

Frequently Asked Questions

What type of property is this?

Breakfast & diner - Restaurant-oriented commercial unit within a three-unit building, suitable for continued diner use.

Where is this breakfast & diner located?

The property is located at 4514 Lake St Bridgman, MI.

What is the asking price?

The asking price for this property is $125,000.

What are key features of this property?

This property features: 763 SF restaurant/diner unit; Currently used as a restaurant and diner; One of three units in the building