Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    7861 Mystic Lake Dr Lake, MI 48632

    Sponsored
    For Sale
    $225,000

    Established business, turnkey operation, Michigan.

    Property size:
    4,546 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional opportunity presents a well-established hardware and sporting goods store for sale in Lake, Michigan. Located at 7861 Mystic Lk Dr, 48632, this turnkey operation boasts 4,546 square feet on a 0.24-acre lot, built in 1960 and zoned for commercial use. The asking price is $225,000 ($49.49/sq ft). All tangible and intangible assets are included, encompassing fixtures, equipment (including an 80# propane hi-lo, pipe cutting/threading machine, glass cutter, key cutter, chain sharpeners, and a computerized paint mixing system), and a licensed firearms and ammunition dealer's permit. Inventory will be negotiated separately. The building features a 12-camera security system with ADT remote monitoring and a full basement with an overhead door, offering significant expansion potential. Further expansion is facilitated by a second septic and well system. This long-standing business serves multiple communities in Central Michigan, providing a strong foundation for continued success. The property presents a rare combination of established business and real estate, ideal for an owner-operator or investor seeking a profitable venture in a desirable location.

    Property Features for 7861 Mystic Lake Dr

    General Information

    Property type
    Retail properties
    Square Feet
    4,546 SF
    Lot Size
    10,454 SF

    Building Details

    Year Built
    1960
    Buildings
    1

    HighLights

    • Established hardware and sporting goods store for sale in Lake, MI.
    • Turnkey operation, 4,546 sq ft on a 0.24‑acre lot, asking price $225,000 ($49.49/sq ft).
    • Includes all fixtures, equipment, and a firearms dealer's permit; inventory negotiable separately.
    • Features a 12‑camera security system, full basement with overhead door, and a second septic/well system.
    • Strong, established business with expansion potential in a desirable location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sherry's Lake Hardware Hardware Store

    Suggested Use

    Restaurant Realty agency Building Supply Auto Repair Shop Hotel & Motel Kitchen & Bath Food Market Storage Facility Bar & Pub Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake
    County
    Clare
    State
    Michigan
    Longitude
    -85.0060875
    Latitude
    43.853612

    Nearby Comparable

    • $42,900
      0.48 Acres

      Commercial Land on US 10

      Commercial vacant lot on US 10, ready to build.
      W Ludington Dr, Lake, MI 48632
      View Details
    • $699,000
      3,164 SF

      Waterfront Property with Four Cabins

      Unique waterfront property featuring four updated cabins on Crooked Lake.
      1249 N Crooked Lake Dr, Lake, MI 48632
      View Details
    • $59,900
      4.90 Acres

      Lake Michigan Mixed-Use Property

      Prime Lakefront Commercial Opportunity, 4.9 Acres
      0 Partridge Ave, Lake, MI 48632
      View Details
    • $80,000

      Kalkaska Land Near Manistee Lake

      Land with heated, insulated pole barn near Manistee Lake.
      5616 Shore Dr E, Lake, MI 49646
      View Details
    • $62,000

      Forested Land Near Manistee Lake

      4.7 acres of forested land near Manistee Lake, Michigan.
      5766 E Shore Dr, Lake, MI 49646
      View Details
    • $989,000
      Pending

      Turn-Key Hunting Property with Lodge

      253 acres with lodge, food plots, and refinished pond.
      11752 N Brinton Rd, Lake, MI 48632
      View Details

    Nearby Similar for Sale

    • $699,000
      3,164 SF

      Waterfront Property with Four Cabins

      Unique waterfront property featuring four updated cabins on Crooked Lake.
      1249 N Crooked Lake Dr, Lake, MI 48632
      View Details
    • $59,900

      Remodeled Home in Apple Carr

      Updated 3-bedroom home in a pet-friendly community with amenities.
      796 Strawberry Ln, Lake, MI 49442
      View Details
    • $109,900

      Muskegon Duplex Investment Opportunity

      Duplex in Muskegon with strong rental demand and separate utilities.
      1776 Mcilwrath St, Lake, MI 49442
      View Details
    • $59,900
      4.90 Acres

      Lake Michigan Mixed-Use Property

      Prime Lakefront Commercial Opportunity, 4.9 Acres
      0 Partridge Ave, Lake, MI 48632
      View Details

    FAQs

    What type of property is this?
    Retail property - Established business, turnkey operation, Michigan.
    Where is this retail property located?
    The property is located at 7861 Mystic Lake Dr Lake, MI.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Established hardware and sporting goods store for sale in Lake, MI.; Turnkey operation, 4,546 sq ft on a 0.24-acre lot, asking price $225,000 ($49.49/sq ft).; Includes all fixtures, equipment, and a firearms dealer's permit; inventory negotiable separately.
    Request Owner's contact information
    7861 Mystic Lake Dr Lake, MI 48632
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7861 Mystic Lake Dr
    Lake, MI 48632
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7861 Mystic Lake Dr Lake, MI 48632
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.