7515 S US 31 Highway, Alanson, MI 49706
- Added:
- Jun 7, 2026
- Days on Market:
- 27
- Last Refresh:
- Jul 3 at 3:06 pm
Property Features for 7515 S US 31 Highway
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B-1
- Standard status
- Active
- APN
- 41-17-10-301-014,012,015
- Size
- 5,317 SF
Taxes and HOA fees
- Tax Description
- As per county record- VILLAGE OF ALANSON, BLK 7, LOT 4. SECTION 10, T35N, R4W.
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air, Natural Gas, Baseboard, Hot Water(Heating)
- Water source
- Well
Building Details
- Building materials
- Wood Frame
Listing agent Craig Wilson (231) 459-5762
Listing office Coldwell Banker Fairbairn Realty 7569 S US 31, Alanson, MI (231) 548-9336
Listing date Jun 7, 2026
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.
HighLights
- Restaurant near the Crooked River with average 15,300 cars passing daily for highway visibility
- Fully equipped with complete bar area, spacious dining room, and a back room for parties
- Upstairs living quarters for owner occupancy or staff housing, plus plenty of basement storage
- Recent upgrades include newer furnace and AC unit (air‑conditioned kitchen) and electrical system upgrades
- Sale includes a Resort Liquor License, inventory included, and two additional lots for outdoor seating or parking
- Utilities include cable available; water source is a well; heating includes baseboard, hot water, and forced air (natural gas)
Overview
The property is located near the Crooked River on South US 31 Highway and is described as having exceptional highway visibility with an average of 15,300 cars passing daily. In addition to the restaurant building, the sale includes a resort liquor license and two additional lots that can be used for outdoor seating or parking.
For operators seeking a ready-to-run food and beverage concept, the combination of established interior components, a liquor license included with the sale, and on-site living quarters can support both staffing flexibility and ongoing restaurant use. With recent equipment and infrastructure updates already in place, the property is designed for continuity of operations upon transfer. Seller financing is available.
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 | $63.8k | $12.00 |
| − Vacancy | −$3.8k | −$0.72 |
| EGI | $60.0k | $11.28 |
| − OpEx | −$15.0k | −$2.82 |
| NOI | $45.0k | $8.46 |
Alternative Uses
Current Use by Public Records
Map
- City
- Alanson
- County
- Emmet
- State
- Michigan
- Longitude
- -84.8329
- Latitude
- 45.472
