10085 Us -23 Alpena, MI 49707
This exceptional business opportunity presents a well-established restaurant and tavern ideally situated on US-23 between Alpena and Rogers City, Michigan. Boasting a prime location between two major Northern Michigan lakes, this landmark establishment benefits from high year-round traffic, with an Average Daily Traffic count of 5,845 vehicles on US-23. Its strategic position near Grand Lake Road, a key route connecting Presque Isle and Alpena, ensures consistent customer flow. The property enjoys minimal competition, with the nearest bar situated miles away. The spacious interior features a 1,800 sq. ft. dining area accommodating 88 guests, complete with booths, tables, and a 50-foot bar. A fully equipped kitchen includes a 9' x 7' walk-in cooler and freezer, a 330 sq. ft. prep area, automatic dishwasher, and server workstation. A large 28' x 8' walk-in/reach-in cooler is conveniently located behind the bar. The basement offers over 1,000 sq. ft. of storage and houses mechanical systems. Separate restrooms are provided. The property also includes a 2-bedroom, 1-bathroom home, ideal for owner occupancy or management. Ample parking is available for over 35 vehicles, with dual access points from US-23 and Grand Lake Road. The fire department capacity is 250 people. This turnkey operation is priced at $425,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
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