Marquette Restaurant and Bar
1110 Champion St, Marquette, MI 49855
Turnkey restaurant and bar in South Marquette with high visibility.
Type:Retail
Property size:
4,280 SFPrice / SF:
$268/SF- Added:
- Jan 14, 2025
- Days on Market:
- 493
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 1110 Champion St
General Information
- Standard status
- Active
- Size
- 4,280 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing agent Dave Mingay License #6505420592
Listing office RE/MAX 1st Realty
Listing date Jan 14, 2025
Source Crexi
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 1st Realty
HighLights
- Significantly reduced price from original listing ($2.5M to $1.15M) and below recent appraisal ($1.6M), offering instant equity.
- Turnkey restaurant and bar with all equipment, furnishings, and inventory included, plus a valuable county liquor license (worth $80,000).
- Prime location in South Marquette with high visibility from US 41 (20,000+ vehicles daily) and easy access for pedestrians.
- Flexible design allows for separate operation of the bar and restaurant, creating rental income potential.
- Completely rebuilt and thoughtfully designed by an experienced chef/owner with custom features and top‑of‑the‑line amenities.
- Spacious and functional layout for staff, including separate dry storage, keg refrigeration, and a private office.
Overview
The Courtyards Bar and Restaurant, located in South Marquette, Michigan, is available for purchase. Situated in the largest city of Michigan’s Upper Peninsula, the property benefits from its location in a growing area with a population exceeding 20,000 residents, plus the additional traffic from Northern Michigan University. The location offers high visibility from US 41, with MDOT reporting over 20,000 vehicles passing by daily. The restaurant, completely rebuilt from the ground up, was designed by an experienced chef and owner. The layout allows for separate operation of the bar and restaurant, presenting an opportunity to rent out half of the 4,280 square foot space. The sale includes all equipment, furnishings, inventory, and a county liquor license. The establishment features a functional design with a spacious layout behind the bar and in the kitchen, along with separate areas for dry storage, keg refrigeration, and a private office. This property is positioned to continue as The Courtyards or to be adapted to a new concept.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$658.7K
NOI $59,279 @ 9.00% cap · cautious / downside scenario
Moderate
$846.8K
NOI $59,279 @ 7.00% cap · market / base-case scenario
Aggressive
$1.19M
NOI $59,279 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.1k | $18.96 |
| − Vacancy | −$2.1k | −$0.49 |
| EGI | $79.0k | $18.47 |
| − OpEx | −$19.8k | −$4.62 |
| NOI | $59.3k | $13.85 |
4,280 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$846.8K
$741.0K – $988.0K
NOI $59,279 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,236 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Marquette
- County
- Marquette
- State
- Michigan
- Longitude
- -87.397063
- Latitude
- 46.534429
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant and bar in South Marquette with high visibility.
Where is this conventional restaurant located?
The property is located at 1110 Champion St Marquette, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: **Significantly reduced price** from original listing ($2.5M to $1.15M) and below recent appraisal ($1.6M), offering instant equity.; **Turnkey restaurant and bar** with all equipment, furnishings, and inventory included, plus a valuable county liquor license (worth $80,000).; Prime location in South Marquette with high visibility from US 41 (20,000+ vehicles daily) and easy access for pedestrians.
