Historic Three-Level Grain Mill
For Sale
$799,000
8572 Silver Lake Rd, Linden, MI 48451
Historic commercial building with developed plans for restaurant or brewery conversion and a flexible multi-level layout.
Property Size5,140 SF
Price / SF$155.45
Days on Market47
Property Features for 8572 Silver Lake Rd
General Information
Standard status
Active
Size
5,140 SF
Amenities
pole barn
Building Details
Year Built
1837
Buildings
2
Stories
3
Listing Agency:
RE/MAX Select
(810) 238-8888
Listed By:
Shane Adams · License #6501268702
Source:
Katie-k
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 25 at 4:57AM
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 RE/MAX Select
Investment Insights
Based on property information with market context.
This historic grain mill contains 5,140 sq. ft. across three levels along Ore Creek. The property includes an additional pole barn on the north side, while existing floorplans have been developed for either a restaurant or brewery concept. The multi-level configuration can accommodate dining areas, private events, and expanded operations, subject to final design and approvals.
Plans call for renovating the parking lot to provide 27 spaces and support an approximate 70-person capacity. Elevator installation has also been considered to improve access to the upper floors. Located at 8572 Silver Lake Road in Linden, Michigan, the property offers a distinctive historic structure with a natural setting beside Ore Creek.
Plans call for renovating the parking lot to provide 27 spaces and support an approximate 70-person capacity. Elevator installation has also been considered to improve access to the upper floors. Located at 8572 Silver Lake Road in Linden, Michigan, the property offers a distinctive historic structure with a natural setting beside Ore Creek.
Key Highlights
- 5,140 sq. ft. historic grain mill spanning three levels
- Additional pole barn positioned on the north side of the property
- Floorplans developed for a restaurant or brewery concept
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
$45,575
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
5.70%
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%
$911,500
$911.5K
Cap Rate 7%
$651,071
$651.1K
Cap Rate 9%
$506,389
$506.4K
Market Conditions
NOI Build-Up for 5,140 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
$74.0K $14.40/SF
− Vacancy
−$13.2K −$2.58/SF
EGI
$60.8K $11.82/SF
− OpEx
−$15.2K −$2.96/SF
NOI
$45.6K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$911,500
Cap Rate 7%
$651,071
Cap Rate 9%
$506,389
Alternative Uses
Best Use
Specialty Retail
$651.1K
$569.7K – $759.6K
NOI $45,575 @ 7.0% cap · market cap 5.70%
Second Best
Industrial
$415.9K
$363.9K – $485.2K
NOI $29,111 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.08M
$946.4K – $1.26M
NOI $75,711 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 48451, MI
16,033
Population
6,005
Households
2.7
Avg Household Size
44
Median Age
32%
College-Educated
95%
High-School Grad
34.1 sq mi
ZIP Area
470
Density / Sq Mi
$95,616
Median Household Income
$52,871
Median Earnings
$973
Median Rent
$268,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Brewery - Historic commercial building with developed plans for restaurant or brewery conversion and a flexible multi-level layout.
Where is this brewery located?
The property is located at 8572 Silver Lake Rd Linden, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 5,140 sq. ft. historic grain mill spanning three levels; Additional pole barn positioned on the north side of the property; Floorplans developed for a restaurant or brewery concept
