Waterfront Restaurant and
971 W Savidge Street Spring Lake, MI 49456
971 W Savidge Street, Spring Lake, MI, 49456
$2,650,000
For Sale
$2,650,000
Turn-key restaurant and bar with full kitchen, indoor seating, and a large outdoor deck overlooking the Grand River channel.
Property Size7,000 SF
Lot Size2.00 Acres
Price / SF$378.57
Days on Market118
Property Features for 971 W Savidge Street
General Information
- Standard status
- Active
- Size
- 7,000 SF
- Lot size
- 2.00 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1997
Listing agency
Core Realty Partners LLC
(231) 578-2508
Listed by
Bryan D Bench · License #6505385692
(231) 578-2508
Source
Homesforsaleinmich
Added: Mar 26 Updated: Jul 20 at 4:00AM Checked: Jul 20 at 4:00AM
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 Core Realty Partners LLC
Investment Insights
Based on property information with market context.
This turn-key waterfront restaurant and bar offering includes a full kitchen and bar, with indoor seating capacity for 260 guests and an expansive outdoor deck area sized for 150 seats. The property sits on a 2+ acre site with 90+ parking spaces, supporting day-to-day operations and peak season demand. The existing building was constructed in 1997 and is described as the original location of Ole' Boys Brewhouse, which operated for 25 years.
The site is located at the west end of the primary commercial corridor at M-104/Savidge Street in the Village of Spring Lake. The premises includes a Resort Class-C liquor license and a Brew Pub license, and is positioned near three marinas and residential condominium hospitality developments.
The combination of a full-service kitchen, dedicated bar area, substantial indoor capacity, and significant outdoor deck seating is designed to support a restaurant-bar concept on a waterfront setting during high-visibility tourism periods.
The site is located at the west end of the primary commercial corridor at M-104/Savidge Street in the Village of Spring Lake. The premises includes a Resort Class-C liquor license and a Brew Pub license, and is positioned near three marinas and residential condominium hospitality developments.
The combination of a full-service kitchen, dedicated bar area, substantial indoor capacity, and significant outdoor deck seating is designed to support a restaurant-bar concept on a waterfront setting during high-visibility tourism periods.
Key Highlights
- 7,000 SF waterfront restaurant/bar built in 1997 with full kitchen and bar.
- Indoor seating for 260 plus a 150‑seat outdoor deck overlooking the Grand River channel.
- 2+ acre site with 90+ parking spaces on the west end of M‑104/Savidge Street commercial corridor.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.2k | $21.60 |
| − Vacancy | −$3.6k | −$0.52 |
| EGI | $147.6k | $21.08 |
| − OpEx | −$44.3k | −$6.32 |
| NOI | $103.3k | $14.76 |
7,000 SF · lease $21.60/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.48M
$1.29M – $1.72M
NOI $103,300 @ 7.0% cap · market cap 3.90%
Second Best
Specialty Retail
$1.11M
$973.2K – $1.30M
NOI $77,857 @ 7.0% cap · market cap 2.94%
Theoretical Best
Multifamily LT 5
$87.05M
$76.17M – $101.55M
NOI $6,093,283 @ 7.0% cap · market cap 229.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
millcreek park
Park
Dr. Rolfs Barbeque
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Stan's Bar — 208 W Savidge St, Spring Lake, MI 49456
- Jackson Street pub — 510 Jackson St, Grand Haven, MI 49417
- fuel bar + refuge — 228 W Savidge St, Spring Lake, MI 49456
- The Paisley Pig Gastropub — 501 Miller Dr, Grand Haven, MI 49417
FAQs
What type of property is this?
Bar & Pub - Turn-key restaurant and bar with full kitchen, indoor seating, and a large outdoor deck overlooking the Grand River channel.
Where is this bar & pub located?
The property is located at 971 W Savidge Street Spring Lake, MI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 7,000 SF waterfront restaurant/bar built in 1997 with full kitchen and bar.; Indoor seating for 260 plus a 150‑seat outdoor deck overlooking the Grand River channel.; 2+ acre site with 90+ parking spaces on the west end of M‑104/Savidge Street commercial corridor.
