Historic Three-Level Grain
For Sale
$799,000
8572 Silver Lake Road, Linden, MI 48451
Historic grain mill spans three levels along Ore Creek and includes an additional pole barn on the north side.
Property Size5,140 SF
Days on Market131
Property Features for 8572 Silver Lake Road
General Information
Standard status
Active
Size
5,140 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$6,318
Building Details
Building Size
5,140 SF
Year Built
1837
Stories
3
Listing Agency:
RE/MAX Select
(810) 233-3500
Listed By:
Shane Adams · License #6501268702
(810) 233-3500
Source:
Carolbollo
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 22 at 10:02AM
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 offers a three-level layout totaling 5,140 square feet and frontage along Ore Creek. An additional pole barn is located on the north side of the property for added operational convenience.
The seller has developed floorplans for a restaurant or brewery concept, providing an early starting point for buildout planning. Plans also include renovation of the parking lot to accommodate 27 spaces, supporting an approximate 70-person capacity, with flexibility for dining areas and private events across the multi-level configuration. An elevator installation has been considered to support fuller utilization of upper floors as operations expand.
Suitable for an owner seeking a distinctive, destination-style redevelopment, the property combines historic character with a natural creek-side setting and strong visibility for an entertainment, restaurant, or brewery use.
The seller has developed floorplans for a restaurant or brewery concept, providing an early starting point for buildout planning. Plans also include renovation of the parking lot to accommodate 27 spaces, supporting an approximate 70-person capacity, with flexibility for dining areas and private events across the multi-level configuration. An elevator installation has been considered to support fuller utilization of upper floors as operations expand.
Suitable for an owner seeking a distinctive, destination-style redevelopment, the property combines historic character with a natural creek-side setting and strong visibility for an entertainment, restaurant, or brewery use.
Key Highlights
- Historic 5,140 SF grain mill built in 1837 with a three‑level layout along Ore Creek
- Property includes an additional pole barn on the north side
- Redevelopment planning includes floorplans 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
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Frequently Asked Questions
What type of property is this?
Brewery - Historic grain mill spans three levels along Ore Creek and includes an additional pole barn on the north side.
Where is this brewery located?
The property is located at 8572 Silver Lake Road 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: Historic 5,140 SF grain mill built in 1837 with a three‑level layout along Ore Creek; Property includes an additional pole barn on the north side; Redevelopment planning includes floorplans for a restaurant or brewery concept
