Historic Restaurant with Lake
801 S LAPEER Rd, Lake Orion, MI 48362
For Sale
$1,500,000
Versatile restaurant with lake views, multiple dining rooms, and updates.
Property Size6,809 SF
Lot Size0.95 Acres
Days on Market242
Property Features for 801 S LAPEER Rd
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
eXp Realty LLC
Listed By:
Chad Apap · License #6501429996
(248) 937-1337
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 24 at 8:58AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This historic restaurant provides a versatile dining experience, featuring six distinct dining rooms in addition to a bar area. These dining rooms are designed to accommodate both intimate gatherings and larger events, offering the flexibility to be either closed off for privacy or opened up to create a more expansive space. The restaurant includes a downstairs gas fireplace, multiple TVs in the bar and one of the dining rooms, and an electric fireplace heater upstairs. The property offers views of the lake from the front dining room and patio, with the added benefit of watching fireworks during events. Outdoor amenities include patio seating with tables and a lounge area. The restaurant is equipped with one indoor and two outdoor walk-in coolers, as well as a walk-in freezer. The original bar features name plates from notable figures. The building's exterior is enhanced by landscaping. Recent updates to the property include a new fire system, updated equipment, refreshed dining rooms, new hardwood floors upstairs, a new electric fireplace heater, and new patio furniture. Storage areas are available in the basement and upstairs. A projector screen is available for seminars. The restaurant is an operating business.
Key Highlights
- Stunning lake views, enjoy fireworks from the front dining room and patio.
- Versatile dining with 6 separate dining rooms plus a bar, ideal for private events.
- Benefit from ample storage with multiple walk‑in coolers and a walk‑in freezer.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,805
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,056,100
$2.1M
Cap Rate 7%
$1,468,643
$1.5M
Cap Rate 9%
$1,142,278
$1.1M
Market Conditions
NOI Build-Up for 6,809 SF
Gross rent
$147.1K $21.60/SF
− Vacancy
−$10.0K −$1.47/SF
EGI
$137.1K $20.13/SF
− OpEx
−$34.3K −$5.03/SF
NOI
$102.8K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,056,100
Cap Rate 7%
$1,468,643
Cap Rate 9%
$1,142,278
Alternative Uses
Best Use
Specialty Retail
$1.47M
$1.29M – $1.71M
NOI $102,805 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
171k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 34%
Groceries 26%
Home Improvements & Furnishings 1%
Meijer
Groceries
44,913 visits/mo
0.4 miles
Speedway
Shops & Services
23,129 visits/mo
0.2 miles
Starbucks
Dining
22,280 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
20,376 visits/mo
0.3 miles
Taco Bell
Dining
11,688 visits/mo
0.3 miles
Demographics for 48362, MI
15,001
Population
6,428
Households
2.3
Avg Household Size
42
Median Age
44%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
1,485
Density / Sq Mi
$108,667
Median Household Income
$51,826
Median Earnings
$1,095
Median Rent
$313,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Oakland County, MI
Properties on Market for Conventional restaurants in Oakland County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Versatile restaurant with lake views, multiple dining rooms, and updates.
Where is this conventional restaurant located?
The property is located at 801 S LAPEER Rd Lake Orion, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Stunning lake views, enjoy fireworks from the front dining room and patio.; Versatile dining with 6 separate dining rooms plus a bar, ideal for private events.; Benefit from ample storage with multiple walk‑in coolers and a walk‑in freezer.
