Bar and Restaurant with Upstairs
For Sale
$125,000
9500 W Saginaw Rd, Reese, MI 48757
Includes usable bar space, additional rooms, and upstairs apartment opportunities, with a portion requiring rehab.
Property Size1,000 SF
Price / SF$125
Days on Market226
Property Features for 9500 W Saginaw Rd
General Information
Standard status
Active
Size
1,000 SF
Taxes and HOA fees
Annual Taxes
$5,616
Listing Agency:
Wentworth Real Estate Group
(810) 955-6600
Listed By:
Bria Sawyer
(810) 293-1001
Source:
Exprealty
Added: Jan 22
Changed: Aug 31
Last Checked: Sep 5 at 11:55AM
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 Wentworth Real Estate Group
Investment Insights
Based on property information with market context.
This property offers useable bar space along with additional rooms that can be finished to suit the next owner’s needs. The upper level presents multiple apartment opportunities. A large portion of the building needs to be rehabbed.
The seller notes that buyers should verify all information regarding systems and disclosures. For in-person viewing, the seller also advises bringing a flashlight because power is off, and watching your step.
The property is listed for sale and is suited for a buyer looking to renovate and reconfigure the interior layout, including both the bar/restaurant area and potential upstairs residences.
The seller notes that buyers should verify all information regarding systems and disclosures. For in-person viewing, the seller also advises bringing a flashlight because power is off, and watching your step.
The property is listed for sale and is suited for a buyer looking to renovate and reconfigure the interior layout, including both the bar/restaurant area and potential upstairs residences.
Key Highlights
- Includes usable bar space
- Offers additional rooms for buyer customization
- Upstairs provides apartment opportunities
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
$11,122
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
8.90%
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%
$222,440
$222.4K
Cap Rate 7%
$158,886
$158.9K
Cap Rate 9%
$123,578
$123.6K
Market Conditions
NOI Build-Up for 1,000 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
$15.5K $15.48/SF
− Vacancy
−$650 −$0.65/SF
EGI
$14.8K $14.83/SF
− OpEx
−$3.7K −$3.71/SF
NOI
$11.1K $11.12/SF
Area
Tuscola 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 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%
$222,440
Cap Rate 7%
$158,886
Cap Rate 9%
$123,578
Alternative Uses
Best Use
Specialty Retail
$158.9K
$139.0K – $185.4K
NOI $11,122 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$725.2K
$634.5K – $846.1K
NOI $50,763 @ 7.0% cap · market cap 40.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
2,154 visits/mo
0.3 miles
Demographics for 48757, MI
3,511
Population
1,687
Households
2.1
Avg Household Size
46
Median Age
25%
College-Educated
97%
High-School Grad
55.2 sq mi
ZIP Area
64
Density / Sq Mi
$74,464
Median Household Income
$41,513
Median Earnings
$909
Median Rent
$172,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Frankenhilf Bar and Bier Garten — 9500 W Saginaw Rd, Reese, MI 48757
Frequently Asked Questions
What type of property is this?
Bar & Pub - Includes usable bar space, additional rooms, and upstairs apartment opportunities, with a portion requiring rehab.
Where is this bar & pub located?
The property is located at 9500 W Saginaw Rd Reese, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Includes usable bar space; Offers additional rooms for buyer customization; Upstairs provides apartment opportunities
