Restaurant Building with Dining
For Sale
$300,000
5036 Paw Paw Lake Road, Coloma, MI 49038
Commercial Sale, Coloma, MI
Property Size2,000 SF
Lot Size0.38 Acres
Price / SF$150
Days on Market347
Property Features for 5036 Paw Paw Lake Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
35
Elementary school district
Coloma
Middle school district
Coloma
High school district
Coloma
Subdivision
Southwestern Michigan - S
Standard status
Active
APN
11-08-4520-0009-00-8
Size
2,000 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Per title
Tax Annual Amount
3823
Legal Description
Per title
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Building materials
Block, Vinyl Siding
Roof type
Stone
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Whitney Lents
(269) 487-6389
Added: Oct 24, 2025
Changed: Sep 12
Last Checked: Oct 5 at 9:06PM
MLS# 25054896
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.
Investment Insights
Based on property information with market context.
This building-only restaurant offering contains 2,000 square feet on a 0.38-acre parcel. A 20' x 40' addition expands the available interior footprint for dining or other restaurant functions. The property includes two bathrooms, block and vinyl siding, forced-air heat, natural gas availability, and a stone roof. Built in 1955, the building also features updated electrical service and a new roof.
The property is located at 5036 Paw Paw Lake Road in Coloma, directly across from Paw Paw Lake. Its setting places the restaurant building near a lake-oriented recreational destination in Berrien County, Michigan.
The property is located at 5036 Paw Paw Lake Road in Coloma, directly across from Paw Paw Lake. Its setting places the restaurant building near a lake-oriented recreational destination in Berrien County, Michigan.
Key Highlights
- 2,000‑square‑foot restaurant building on a 0.38‑acre parcel
- 20' x 40' addition provides expanded interior space
- Directly across from Paw Paw Lake
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,245
Cap Rate
7.41%
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 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with an expanded footprint, updated electrical service, and a new roof.
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 $300,000.
What are key features of this property?
This property features: 2,000‑square‑foot restaurant building on a 0.38‑acre parcel; 20' x 40' addition provides expanded interior space; Directly across from Paw Paw Lake
