Freestanding Restaurant with
For Sale
Contact for pricing
6437 New Us 223, Ottawa Lake, MI 49267
Freestanding 4,042 SF restaurant building with bar, kitchen, dining areas, and ample on-site parking.
Property Size4,042 SF
Lot Size1.74 Acres
Price / SF$122.46
Days on Market329
Property Features for 6437 New Us 223
General Information
Standard status
Active
Size
4,042 SF
Lot size
1.74 Acres
Property subtype
RETAIL
Additional Details
Utilities to Site
Yes
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Jackie Harris
(419) 794-1133
Source:
Moodyscre
Added: Dec 5, 2025
Changed: Oct 26
Last Checked: Oct 30 at 12:59PM
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 Reichle | Klein Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant building offers a practical layout with a restaurant bar, kitchen, and dining area. The property includes the plumbing, drainage, and utilities needed for food service and offers an existing configuration suitable for restaurant use, drive-through operations, or retail redevelopment.
The site is developed on 1.74 acres and features an ample parking lot to support customer access. The property is described as restaurant/retail-approved by zoning and infrastructure, with room for an adapted use depending on the tenant’s concept.
The listing notes an option for owner build-to-suit for a restaurant. As presented, the building and site improvements are intended to support restaurant and retail-related activity.
The site is developed on 1.74 acres and features an ample parking lot to support customer access. The property is described as restaurant/retail-approved by zoning and infrastructure, with room for an adapted use depending on the tenant’s concept.
The listing notes an option for owner build-to-suit for a restaurant. As presented, the building and site improvements are intended to support restaurant and retail-related activity.
Key Highlights
- 4,042‑SF freestanding restaurant building on 1.74 acres, suited for restaurant use, drive‑thru, or retail redevelopment
- Includes restaurant bar, kitchen, and dining area
- Ample on‑site parking plus plumbing, drainage, and utilities in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,370
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,400
$787.4K
Cap Rate 7%
$562,429
$562.4K
Cap Rate 9%
$437,444
$437.4K
Market Conditions
NOI Build-Up for 4,042 SF
Gross rent
$56.7K $14.04/SF
− Vacancy
−$4.3K −$1.05/SF
EGI
$52.5K $12.99/SF
− OpEx
−$13.1K −$3.25/SF
NOI
$39.4K $9.74/SF
Area
Monroe County, MI
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,400
Cap Rate 7%
$562,429
Cap Rate 9%
$437,444
Alternative Uses
Best Use
Specialty Retail
$562.4K
$492.1K – $656.2K
NOI $39,370 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.17M
$3.65M – $4.86M
NOI $291,817 @ 7.0% cap · market cap 58.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49267, MI
3,920
Population
1,593
Households
2.5
Avg Household Size
47
Median Age
28%
College-Educated
98%
High-School Grad
39.0 sq mi
ZIP Area
101
Density / Sq Mi
$96,389
Median Household Income
$43,281
Median Earnings
$858
Median Rent
$244,500
Median Home Value
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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 - Freestanding 4,042 SF restaurant building with bar, kitchen, dining areas, and ample on-site parking.
Where is this conventional restaurant located?
The property is located at 6437 New Us 223 Ottawa 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: 4,042‑SF freestanding restaurant building on 1.74 acres, suited for restaurant use, drive‑thru, or retail redevelopment; Includes restaurant bar, kitchen, and dining area; Ample on‑site parking plus plumbing, drainage, and utilities in place
