1222 Us-23 East Tawas, MI 48730
- Retail properties
- 9,248 SF
- 4.02 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1222 Us-23
- Year built
- 1982
- Lot size
- 4.02 lot acres
- Property size
- 9,248 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional commercial property presents a unique investment opportunity in East Tawas, Michigan. The 9,248 square foot building houses two thriving restaurants: a Big Boy franchise and the acclaimed Northwoods Steakhouse, sharing a common kitchen and boasting a liquor license. Situated on a sizable 4.023-acre lot at a signalized intersection on US-23 near Tawas State Park, this property enjoys exceptional visibility and consistent traffic. The Northwoods Steakhouse has a proven track record of success, and the property's Highway Service Commercial zoning allows for significant expansion potential. Considerable additional development opportunities exist, including the possibility of a small hotel, multi-family units, or workforce housing. The building, constructed in 1982 and renovated in 2007, offers a turnkey operation with a shared kitchen, minimizing overhead costs. The current owner is offering seller financing. There is one year remaining on the Big Boy franchise contract, with an option to break the contract for a fee. The asking price is $999,999, reflecting a price per square foot of $129.76. This property offers a rare chance to acquire two established, profitable restaurants with substantial room for growth and development in a prime location. The property's APN is 120-021-300-007-40.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- East Tawas
- County
- Iosco
- State
- Michigan
- Longitude
- -83.4728
- Latitude
- 44.2824
