Waterfront Restaurant
6229 East Street, Alanson, MI 49706
For Sale
$385,000
Commercial/Industrial, Alanson, MI
Property Size1,568 SF
Lot Size0.40 Acres
Price / SF$245.54
Days on Market93
Property Features for 6229 East Street
General Information
Property type
Property subtype
Zoning
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Water front
Amenities
dock
Building Details
Building materials
Listing Agency:
Coldwell Banker Fairbairn Realty · Coldwell Banker Real Estate
(231) 548-9336
Listed By:
Craig Wilson
(231) 459-5762
Added: Aug 10
Changed: Nov 6
Last Checked: Nov 10 at 2:06PM
MLS# 480426
Copyright © 2026 Northern Michigan MLS. 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.
This 1,568-square-foot wood-frame restaurant property occupies a 0.4-acre corner lot in downtown Alanson. The site includes 75 feet along the Crooked River, a dock, well water, and existing restaurant improvements. B-1 zoning supports the property’s commercial positioning, while the current restaurant setup provides an established starting point for continued or reconfigured use.
The property fronts US 31, which averages 15,000 cars daily, and is within walking distance of downtown Alanson’s coffee shops, restaurants, and stores. Crooked River connects to Michigan’s 41-mile Inland Waterway system, adding a waterfront component to the commercial setting. The nearby downtown environment, roadway exposure, and river access combine in a compact restaurant-oriented property.
The property fronts US 31, which averages 15,000 cars daily, and is within walking distance of downtown Alanson’s coffee shops, restaurants, and stores. Crooked River connects to Michigan’s 41-mile Inland Waterway system, adding a waterfront component to the commercial setting. The nearby downtown environment, roadway exposure, and river access combine in a compact restaurant-oriented property.
Key Highlights
- 1,568‑square‑foot restaurant property on a 0.4‑acre corner lot
- 75 feet of Crooked River waterfront with dock included
- B‑1 zoning in downtown Alanson
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,265
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,300
$265.3K
Cap Rate 7%
$189,500
$189.5K
Cap Rate 9%
$147,389
$147.4K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$18.8K $12.00/SF
− Vacancy
−$1.1K −$0.72/SF
EGI
$17.7K $11.28/SF
− OpEx
−$4.4K −$2.82/SF
NOI
$13.3K $8.46/SF
Area
Emmet County, MI
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,300
Cap Rate 7%
$189,500
Cap Rate 9%
$147,389
Alternative Uses
Best Use
Specialty Retail
$189.5K
$165.8K – $221.1K
NOI $13,265 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$354.9K
$310.5K – $414.0K
NOI $24,840 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49706, MI
5,062
Population
2,893
Households
1.7
Avg Household Size
42
Median Age
22%
College-Educated
92%
High-School Grad
58.5 sq mi
ZIP Area
87
Density / Sq Mi
$63,573
Median Household Income
$37,105
Median Earnings
$943
Median Rent
$208,500
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-1-zoned restaurant property with a dock, corner-lot exposure, and Crooked River frontage in downtown Alanson.
Where is this conventional restaurant located?
The property is located at 6229 East Street Alanson, MI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,568‑square‑foot restaurant property on a 0.4‑acre corner lot; 75 feet of Crooked River waterfront with dock included; B‑1 zoning in downtown Alanson
