Remodeled Restaurant with
5610 109th Avenue Pullman, MI 49450
5610 109th Avenue, Pullman, MI, 49450
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For Sale
Contact for pricing
Remodeled restaurant with newer equipment and a septic drain system, plus an included partially remodeled adjacent building.
Property Size1,080 SF
Price / SF$245.28
Days on Market139
Property Features for 5610 109th Avenue
General Information
- Standard status
- Active
- Size
- 1,080 SF
- Property subtype
- Business for Sale, Retail
Building Details
- Year Built
- 2004
Listing agency
King Realty Group, Llc
(269) 208-1250
Listed by
Trish King · License #MI 6502349985
Source
Crexi
Added: Mar 4 Updated: Jul 20 at 6:31PM Checked: Jul 21 at 8:44AM
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 King Realty Group, Llc
Investment Insights
Based on property information with market context.
This property includes a restaurant space that has been remodeled inside and out, along with newer equipment. The kitchen includes a fire compression system over fryer and a stoves system. The restaurant is described as fully operational, though it has not been in operation for a few years. The property also includes a septic drain system.
The drive area and land associated with the building next door are owned by CSX rail and are leased. An old hardware store building next door is included and belongs to the restaurant owner; it is partially remodeled with a new roof. The adjacent building does not currently have water. An extra lot out back is included in the sale, and it is noted that it could possibly be approved for a well.
Located at 5610 109th Avenue in Pullman, Michigan (Allegan County).
The drive area and land associated with the building next door are owned by CSX rail and are leased. An old hardware store building next door is included and belongs to the restaurant owner; it is partially remodeled with a new roof. The adjacent building does not currently have water. An extra lot out back is included in the sale, and it is noted that it could possibly be approved for a well.
Located at 5610 109th Avenue in Pullman, Michigan (Allegan County).
Key Highlights
- Restaurant property built in 2004, remodeled inside and out with newer equipment
- Includes fire compression system over fryer and stoves system
- Fully operational per listing (not been in operation for a few years)
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 | $16.7k | $15.48 |
| − Vacancy | −$702 | −$0.65 |
| EGI | $16.0k | $14.83 |
| − OpEx | −$4.0k | −$3.71 |
| NOI | $12.0k | $11.12 |
1,080 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$171.6K
$150.2K – $200.2K
NOI $12,012 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$10.14M
$8.87M – $11.83M
NOI $709,962 @ 7.0% cap · market cap 268.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Remodeled restaurant with newer equipment and a septic drain system, plus an included partially remodeled adjacent building.
Where is this conventional restaurant located?
The property is located at 5610 109th Avenue Pullman, MI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Restaurant property built in 2004, remodeled inside and out with newer equipment; Includes fire compression system over fryer and stoves system; Fully operational per listing (not been in operation for a few years)
