Property profile

111 Porter St Albion, MI 49224

OFF-MARKET
Bars & Pubs
Property ID
US43-2113074
2,428 SF 0.07 ac lot Built 1880
Individually Owned Free & Clear
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Property summary

AI-generated overview

This exceptional offering presents a unique investment opportunity in Albion, MI. The property encompasses a thriving, established tavern—Charlie's Tavern—operating since 1944 and renowned for its pizza. The sale includes the complete business operation, encompassing all recipes, a fully transferable liquor license, and all essential kitchen and bar equipment. This ensures a seamless transition for a new owner, allowing immediate continuation of the successful business. Beyond the tavern itself, the sale also includes a substantial adjacent building. This building features a sizable upper-level apartment, providing additional income potential or housing for the owner/operator. Furthermore, a dedicated parking lot is included, enhancing customer convenience and accessibility. The tavern building itself offers approximately 2,800 square feet of space, situated on a 0.07-acre lot. Above the tavern is additional storage space, adding to the overall utility of the property. This combined property presents a rare chance to acquire a well-established business with significant historical value, alongside additional income-generating potential, all within a single, convenient location. The asking price for this remarkable package is $500,000.

Property profile

Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1880
Total area 2,428 SF
Lot 0.07 ac (3,049 SF)
Zoning code CBD
APN 51-001-025-00
UPID US43-2113074

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Bar & Pub

Location

111 Porter St Albion, MI 49224-1758
Albion metro Census 3400 BATTLE CREEK, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$80k

Owner & transaction history

Zoning & alternative use

CBD · Albion, MI
Zoning description

The Central Business District is intended to provide for a variety of retail and office services which serve the needs of a consumer trade area that extends beyond the corporate boundaries of the City. This district is c…

General category COMMERCIAL

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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