Restaurant with Full
820 Manitou Road, Manitou Beach, MI 49253
For Sale
New
$300,000
Commercial zoning, a spacious kitchen, and included restaurant equipment support continued food-service use.
Property Size2,304 SF
Price / SF$130.21
Days on Market7
Property Features for 820 Manitou Road
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Equipment Included
Building Details
Building Size
Year Built
Listing Agency:
Foundation Realty, LLC - Manitou Beach
Listed By:
Christopher Coscarelli · License MI #6501388855
(517) 673-0386
Source:
Case-realty
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 9 at 4:25PM
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 Foundation Realty, LLC - Manitou Beach
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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 restaurant property in Manitou Beach includes a large kitchen with newer equipment, ample seating, and a full basement used for storage. Restaurant equipment is part of the sale, with the ice cream case, Coke machine, and coffee maker excluded because they are leased.
Built in 1980, the property is zoned Commercial and is located at 820 Manitou Road.
Built in 1980, the property is zoned Commercial and is located at 820 Manitou Road.
Key Highlights
- Full basement provides storage space
- Large kitchen with newer equipment
- Restaurant equipment included; ice cream case, Coke machine, and coffee maker are excluded as leased items
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,626
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,520
$512.5K
Cap Rate 7%
$366,086
$366.1K
Cap Rate 9%
$284,733
$284.7K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$35.7K $15.48/SF
− Vacancy
−$1.5K −$0.65/SF
EGI
$34.2K $14.83/SF
− OpEx
−$8.5K −$3.71/SF
NOI
$25.6K $11.12/SF
Area
Lenawee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,520
Cap Rate 7%
$366,086
Cap Rate 9%
$284,733
Alternative Uses
Best Use
Specialty Retail
$366.1K
$320.3K – $427.1K
NOI $25,626 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.8K
$424.2K – $565.6K
NOI $33,938 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49253, MI
3,095
Population
2,196
Households
1.4
Avg Household Size
50
Median Age
36%
College-Educated
96%
High-School Grad
23.6 sq mi
ZIP Area
131
Density / Sq Mi
$79,946
Median Household Income
$48,375
Median Earnings
$1,109
Median Rent
$226,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial zoning, a spacious kitchen, and included restaurant equipment support continued food-service use.
Where is this conventional restaurant located?
The property is located at 820 Manitou Road Manitou Beach, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Full basement provides storage space; Large kitchen with newer equipment; Restaurant equipment included; ice cream case, Coke machine, and coffee maker are excluded as leased items
