Restaurant Building with
5036 Paw Paw Lake Road, Coloma, MI 49038
For Sale
New
$279,900
Commercial Sale, Coloma, MI
Property Size2,000 SF
Lot Size0.38 Acres
Price / SF$139.95
Days on Market5
Property Features for 5036 Paw Paw Lake Road
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Keith Claunch
(269) 231-0060
Added: Nov 5
Last Checked: Nov 9 at 6:06AM
MLS# 26058648
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The vacant restaurant property contains 2,000 square feet, including a 20-by-40-foot addition. Restaurant equipment is included. The building dates to 1955 and has block and vinyl siding construction, forced-air heat, and wall-unit and central air conditioning. Recent work includes a roof replacement and electrical updates.
At 5036 Paw Paw Lake Road in Coloma, the property sits directly across from Paw Paw Lake. The site covers 0.38 acres. Natural gas is available. Any proposed use remains subject to zoning and municipal approvals.
At 5036 Paw Paw Lake Road in Coloma, the property sits directly across from Paw Paw Lake. The site covers 0.38 acres. Natural gas is available. Any proposed use remains subject to zoning and municipal approvals.
Key Highlights
- 2,000‑square‑foot restaurant building with existing equipment included
- 20‑by‑40‑foot addition
- 0.38‑acre site directly across from Paw Paw Lake
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,245
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,900
$444.9K
Cap Rate 7%
$317,786
$317.8K
Cap Rate 9%
$247,167
$247.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$31.0K $15.48/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$29.7K $14.83/SF
− OpEx
−$7.4K −$3.71/SF
NOI
$22.2K $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%
$444,900
Cap Rate 7%
$317,786
Cap Rate 9%
$247,167
Alternative Uses
Best Use
Specialty Retail
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 49038, MI
8,979
Population
5,124
Households
1.8
Avg Household Size
45
Median Age
21%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
230
Density / Sq Mi
$60,396
Median Household Income
$41,663
Median Earnings
$944
Median Rent
$196,200
Median Home Value
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Market
Average Price Trend$/SF for Conventional restaurants in Berrien County, MI
Properties on Market for Conventional restaurants in Berrien County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant equipment is included with the vacant building.
Where is this conventional restaurant located?
The property is located at 5036 Paw Paw Lake Road Coloma, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 2,000‑square‑foot restaurant building with existing equipment included; 20‑by‑40‑foot addition; 0.38‑acre site directly across from Paw Paw Lake
