Licensed Bar and
For Sale
$495,000
6263 W Houghton Lake Drive, Houghton Lake, MI 48629
A Class C Resort License and patio license are included with the property.
Property Size4,210 SF
Days on Market9
Property Features for 6263 W Houghton Lake Drive
General Information
Standard status
Active
Size
4,210 SF
Property subtype
Retail
Additional Details
Liquor License
Yes
Building Details
Building Size
4,210 SF
Listing Agency:
COLDWELL BANKER SCHMIDT REALTORS-HL
Listed By:
Ruth Clemens · License #6506043271
(989) 429-3100
Source:
Cbcworldwide
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 5 at 3:11PM
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 COLDWELL BANKER SCHMIDT REALTORS-HL
Investment Insights
Based on property information with market context.
This bar and restaurant property was built in 2007. The offering includes a Class C Resort License and a patio license, supporting its established bar and dining use.
Key Highlights
- Includes a Class C Resort License
- Patio license included
- Built in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,052
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,040
$641.0K
Cap Rate 7%
$457,886
$457.9K
Cap Rate 9%
$356,133
$356.1K
Market Conditions
NOI Build-Up for 4,210 SF
Gross rent
$59.1K $14.04/SF
− Vacancy
−$16.4K −$3.89/SF
EGI
$42.7K $10.15/SF
− OpEx
−$10.7K −$2.54/SF
NOI
$32.1K $7.61/SF
Area
Roscommon County, MI
Vacancy
27.70%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,040
Cap Rate 7%
$457,886
Cap Rate 9%
$356,133
Alternative Uses
Best Use
Specialty Retail
$457.9K
$400.7K – $534.2K
NOI $32,052 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$692.8K
$606.2K – $808.3K
NOI $48,499 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48629, MI
7,420
Population
7,248
Households
1
Avg Household Size
56
Median Age
18%
College-Educated
90%
High-School Grad
77.5 sq mi
ZIP Area
96
Density / Sq Mi
$54,622
Median Household Income
$33,544
Median Earnings
$784
Median Rent
$142,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - A Class C Resort License and patio license are included with the property.
Where is this bar & pub located?
The property is located at 6263 W Houghton Lake Drive Houghton Lake, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Includes a Class C Resort License; Patio license included; Built in 2007
