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    Restaurant Building with Outdoor Patio Title is generated by Realmo AI

    50285 Mound Road, Shelby, MI 48317

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    Claim this Listing
    For Sale
    $1,070,000

    COMMERCIAL - Shelby, MI

    Property size:
    4,043 SF
    Lot size:
    1.59 Acres
    Price / SF:
    $264/SF
    Added:
    Apr 3, 2026
    Days on Market:
    63
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 50285 Mound Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    23-07-20-278-026
    Size
    4,043 SF
    Lot size
    1.59 Acres

    Taxes and HOA fees

    Tax Annual Amount
    12946

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1976
    Roof type
    Flat

    We can help!

    Listing Contact
    Maria McGuire
    Maria McGuire

    Listing agent Maria McGuire License #6504242665

    Listing office RE/MAX Advisors 34350 23 Mile Rd, New Baltimore, MI

    Listing date Apr 3, 2026

    MLS# 50203249

    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.

    HighLights

    • 4,043 SF commercial building on 1.59 acres along Mound Road
    • Built in 1976 with forced‑air heating and flat roof
    • Property is currently the Esplendido Mexican Restaurant, with a layout suited for restaurant or other commercial uses
    • Includes a spacious dining area, outdoor patio, and distinctive Tiki Bar
    • Fire suppression system and essential infrastructure are in place
    • Public water service; flexible purchase options allow acquiring the real estate independent of the business

    Overview

    This commercial building totals 4,043 square feet and is currently operating as the Esplendido Mexican Restaurant. The property includes a spacious dining area, an outdoor patio, and a distinctive Tiki Bar. A fire suppression system and essential infrastructure are in place to support restaurant operations. The layout is described as versatile, with suitability for continued restaurant use or adaptation to other commercial concepts, including retail or office uses.

    The site sits on 1.59 acres along Mound Road, positioned for visibility in a high-demand corridor. The expansive grounds provide substantial on-site parking, with additional space that could support future expansion or redevelopment, subject to applicable approvals.

    For a tenant or owner-user, the building offers a practical path to occupancy through its existing restaurant configuration and site improvements. For buyers evaluating an owner-operator scenario, the restaurant business is available in addition to the real estate, and the seller notes flexible purchase options, including the possibility of acquiring the property independent of the business operation. This combination of an operating-ready facility, outdoor amenities, and ample parking supports a range of commercial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Oceana
    State
    Michigan
    Longitude
    -83.054058
    Latitude
    42.66398

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    FAQs

    What type of property is this?
    Conventional restaurant - 4043 sq ft restaurant building on 1.59 acres with outdoor patio, tiki bar, and substantial on-site parking.
    Where is this conventional restaurant located?
    The property is located at 50285 Mound Road Shelby, MI.
    What is the asking price?
    The asking price for this property is $1,070,000.
    What are key features of this property?
    This property features: 4,043 SF commercial building on 1.59 acres along Mound Road; Built in 1976 with forced‑air heating and flat roof; Property is currently the Esplendido Mexican Restaurant, with a layout suited for restaurant or other commercial uses
    (586) 996-4059
    We can help!
    Listing Contact
    Maria McGuire
    Maria McGuire
    Real Estate License ID: 6504242665
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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