Updated Restaurant Building with
W 108 W Colby Street Unit SourceFi Whitehall, MI 49461
For Sale
$270,000
Updated restaurant building with a professionally updated commercial kitchen, ADA restroom, and rear storage area.
Property Size1,288 SF
Price / SF$209.63
Days on Market11
Property Features for W 108 W Colby Street Unit SourceFi
General Information
Standard status
Active
Size
1,288 SF
Property subtype
Industrial
Building Details
Year Built
1928
Listing Agency:
(231) 730-0934
Listed By:
Five Star Real Estate Whitehall
(231) 730-0934
Source:
Xome
Added: Jul 19
Changed: Jul 26
Last Checked: Jul 28 at 3:50AM
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 Five Star Real Estate Whitehall
Investment Insights
Based on property information with market context.
This updated commercial building is configured for restaurant use and features newer flooring, fresh paint, and modern fixtures. The interior includes an ADA-compliant restroom, a professionally updated commercial kitchen with a three-compartment sink, and a spacious rear storage area to support day-to-day operations.
The property is located on Whitehall’s highly visible main street, with ample parking available along Colby Street and in a large public parking lot behind the building. A backyard area provides space that could be used to create an outdoor dining or patio setup. The sale is for the real estate only and does not include the business, inventory, or equipment.
The property is located on Whitehall’s highly visible main street, with ample parking available along Colby Street and in a large public parking lot behind the building. A backyard area provides space that could be used to create an outdoor dining or patio setup. The sale is for the real estate only and does not include the business, inventory, or equipment.
Key Highlights
- Updated commercial building built in 1928 on Whitehall’s main street
- Professionally updated commercial kitchen with a three‑compartment sink
- ADA‑compliant restroom
Financial Insights For Specialty Retail
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 | $19.9k | $15.48 |
| − Vacancy | −$837 | −$0.65 |
| EGI | $19.1k | $14.83 |
| − OpEx | −$4.8k | −$3.71 |
| NOI | $14.3k | $11.12 |
1,288 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$204.7K
$179.1K – $238.8K
NOI $14,326 @ 7.0% cap · market cap 5.31%
Second Best
Industrial
$176.5K
$154.4K – $205.9K
NOI $12,355 @ 7.0% cap · market cap 4.58%
Theoretical Best
Hotel Hospitality
$12.10M
$10.58M – $14.11M
NOI $846,696 @ 7.0% cap · market cap 313.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Updated restaurant building with a professionally updated commercial kitchen, ADA restroom, and rear storage area.
Where is this commercial kitchen located?
The property is located at W 108 W Colby Street Unit SourceFi Whitehall, MI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Updated commercial building built in 1928 on Whitehall’s main street; Professionally updated commercial kitchen with a three‑compartment sink; ADA‑compliant restroom
