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    OFF-MARKET
    Retail properties & Spaces

    6449 M-65, Lachine, MI 49753

    4,100 SF 1.6 ac lot
    Property ID
    Property summary
    AI-generated overview

    This established, profitable bar and restaurant, Pappy's Pub, is located at 6449 M-65 in Lachine, Michigan (Alpena County, zip code 49753). The 4,100 square foot property sits on a 1.6-acre lot and is priced at $395,000 ($96.34/sq ft). The building, a Class B retail space, underwent renovations in 2019 and boasts a charming exterior with outdoor seating. The interior features a fully equipped commercial kitchen (including a pizza oven, line, upright freezer, and refrigerator), a lighted back bar, televisions, a coin-operated pool table, a wood-burning stove, and a dance floor. A Class C liquor license for Alpena County allows for on-site and to-go beer and wine sales. An attached two-bedroom residence offers additional living space for the owner or potential rental income. All furniture, fixtures, and equipment within the restaurant are included in the sale. The property is available for occupancy on August 27, 2024. Seller financing is available. This turnkey operation is ideally situated to serve the Greater Alpena area.

    Property profile
    Verified
    Property type Retail properties & Spaces
    Total area 4,100 SF
    Lot 1.6 ac (69,696 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
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