Renovated Restaurant with Event
8725 Water Street, Montague, MI 49437
For Sale
$550,000
Commercial Sale, Montague, MI
Property Size4,000 SF
Lot Size0.17 Acres
Price / SF$137.50
Days on Market82
Property Features for 8725 Water Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Roof type
Listing Agency:
Lakeshore Connection Real Est.
(231) 780-8436
Listed By:
Dianna Collins Pride
(231) 571-0785
Added: Aug 21
Changed: Nov 4
Last Checked: Nov 10 at 5:06PM
MLS# 26044423
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 8725 Water Street, this 4,000-square-foot restaurant property combines a commercial kitchen, built-in bar, dining area and separate event space. The interior was renovated and reconfigured beginning in 2024, and the event area was completed in 2026. Indoor capacity is 99, divided between 50 restaurant guests and up to 49 in the event space. Three public restrooms include accessible facilities; one also has a shower. The sale includes real estate and agreed furniture, fixtures and equipment, while the existing business and alcohol licenses are excluded.
The 0.17-acre property is in downtown Montague, with nearby public parking and direct access from the event area to Weathervane Lane. The building, constructed of brick and block, dates to 1960. Heating is forced air, cooling is central air, and cable service is available.
The 0.17-acre property is in downtown Montague, with nearby public parking and direct access from the event area to Weathervane Lane. The building, constructed of brick and block, dates to 1960. Heating is forced air, cooling is central air, and cable service is available.
Key Highlights
- 4,000‑square‑foot restaurant property on a 0.17‑acre lot
- Interior renovation and reconfiguration began in 2024; event space completed in 2026
- Indoor capacity of 99: 50 in the restaurant and up to 49 in the event area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,490
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,800
$889.8K
Cap Rate 7%
$635,571
$635.6K
Cap Rate 9%
$494,333
$494.3K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$61.9K $15.48/SF
− Vacancy
−$2.6K −$0.65/SF
EGI
$59.3K $14.83/SF
− OpEx
−$14.8K −$3.71/SF
NOI
$44.5K $11.12/SF
Area
Muskegon 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%
$889,800
Cap Rate 7%
$635,571
Cap Rate 9%
$494,333
Alternative Uses
Best Use
Specialty Retail
$635.6K
$556.1K – $741.5K
NOI $44,490 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$841.7K
$736.5K – $982.0K
NOI $58,919 @ 7.0% cap · market cap 10.71%
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
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wesco
Shops & Services
10,744 visits/mo
0.4 miles
Comerica Bank
Shops & Services
1,129 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
922 visits/mo
0.5 miles
Demographics for 49437, MI
6,928
Population
3,229
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
96%
High-School Grad
65.6 sq mi
ZIP Area
106
Density / Sq Mi
$77,224
Median Household Income
$39,356
Median Earnings
$772
Median Rent
$201,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Muskegon County, MI
Properties on Market for Conventional restaurants in Muskegon County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A commercial kitchen, built-in bar and indoor capacity for 99 support restaurant dining and private events.
Where is this conventional restaurant located?
The property is located at 8725 Water Street Montague, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,000‑square‑foot restaurant property on a 0.17‑acre lot; Interior renovation and reconfiguration began in 2024; event space completed in 2026; Indoor capacity of 99: 50 in the restaurant and up to 49 in the event area
