Property profile

700 M L King Dr Portage, MI 49024

OFF-MARKET
Retail properties & Spaces
6,084 SF 0.89 ac lot Built 1997
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Property summary

AI-generated overview

This exceptional turnkey restaurant opportunity in Portage, Michigan, presents a rare chance to acquire a thriving business. Located at 700 Martin Luther King Drive, this 6,084 square foot, single-story building sits on a 0.89-acre lot (APN 391000009015N) and boasts a desirable B-2 zoning. Built in 1997, the property features spacious dining rooms, a substantial bar area, and an inviting outdoor patio. A fully equipped kitchen, complete with a large walk-in cooler, is ready for immediate use. All furniture, fixtures, and equipment are included in the sale price of $700,000 ($115.06/sq ft). Ample parking is available for patrons. The property's prime location offers high visibility, situated near Celebration Cinema Theater and Crossroads Mall. The included liquor license adds significant value to this exceptional opportunity. This former Brann's Steakhouse is in excellent condition and ready for a new owner to implement their culinary vision. Note that the liquor license may be available in a separate transaction. This is an excellent opportunity for an experienced restaurateur seeking a well-established, profitable business.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1997
Total area 6,084 SF
Lot 0.89 ac (38,768 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

700 M L King Dr Portage, MI 49024
Portage metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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