Turnkey Restaurant Opportunity in
For Sale
$299,000
Pending
6907 Sears Drive, Portage, MI 49024
COMMERCIAL - Portage, MI
Property Size2,031 SF
Lot Size0.51 Acres
Days on Market93
Property Features for 6907 Sears Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
B-2 Community B
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
28
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Standard status
Pending
APN
10-00009-100-E
Size
2,031 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
15082
Legal Description
On file.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2010
Floors in Building
1
Number of units
1
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Chad M VanDerwall
(269) 888-2755
Added: May 21
Changed: Aug 4
Last Checked: Aug 21 at 6:06AM
MLS# 26023827
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 is a turnkey former breakfast restaurant opportunity featuring 2,031 square feet. Previously East Egg, the property is offered for sale with all furniture, fixtures, and equipment included. The space includes a dining area, bar/server station, and a commercial kitchen. The property is situated on a lot of 0.51 acres. Located adjacent to Crossroads Mall and less than 0.5 miles from Westnedge Avenue, the area's largest corridor, the property benefits from steady traffic and surrounding retail draw. The property is located in Portage, Michigan.
Key Highlights
- 2,031 SF former breakfast restaurant space with dining area, bar/server station, and commercial kitchen
- Includes all furniture, fixtures, and equipment included with the sale
- Heating: forced air; cooling: central air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,100
$381.1K
Cap Rate 7%
$272,214
$272.2K
Cap Rate 9%
$211,722
$211.7K
Market Conditions
NOI Build-Up for 2,031 SF
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.
Gross rent
$26.7K $13.14/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$25.4K $12.51/SF
− OpEx
−$6.4K −$3.13/SF
NOI
$19.1K $9.38/SF
Area
Kalamazoo County, MI
Vacancy
4.80%
Lease Rate
$13.14 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,100
Cap Rate 7%
$272,214
Cap Rate 9%
$211,722
Alternative Uses
Best Use
Specialty Retail
$272.2K
$238.2K – $317.6K
NOI $19,055 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$531.5K
$465.0K – $620.1K
NOI $37,203 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
640k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 30%
Dining 23%
Apparel 20%
Shops & Services 13%
Target
Superstores
97,690 visits/mo
0.4 miles
Sam's Club
Superstores
91,864 visits/mo
0.5 miles
Celebration Cinema Crossroads & IMAX
Leisure
45,883 visits/mo
0.4 miles
Sam's Club Gas Station
Shops & Services
44,602 visits/mo
0.4 miles
Blain's Farm & Fleet
Apparel
43,666 visits/mo
0.5 miles
Demographics for 49024, MI
30,332
Population
13,232
Households
2.3
Avg Household Size
39
Median Age
51%
College-Educated
97%
High-School Grad
17.2 sq mi
ZIP Area
1,763
Density / Sq Mi
$86,427
Median Household Income
$49,914
Median Earnings
$1,208
Median Rent
$248,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Colonial Kitchen — 7617 S Westnedge Ave, Portage, MI 49002
- Antique Kitchen — 6215 S Westnedge Ave, Portage, MI 49002
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Former breakfast restaurant with all furniture, fixtures, and equipment.
Where is this breakfast & diner located?
The property is located at 6907 Sears Drive Portage, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,031 SF former breakfast restaurant space with dining area, bar/server station, and commercial kitchen; Includes all furniture, fixtures, and equipment included with the sale; Heating: forced air; cooling: central air
