112 N State St, Freeport, MI 49325
For Sale
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This exceptional 3,878 square foot industrial property located at 112 N State Street in the heart of Freeport, MI, presents a unique investment opportunity. Currently operating as a successful diner, Smelk's, this established business boasts seating for 54 patrons, featuring a comfortable atmosphere and a unique counter design that fosters interaction between diners and staff. The property includes a well-decorated dining area, a separate, well-equipped food preparation area, and ample storage space. Additional storage is available in the basement, along with a dedicated office. The sale includes most of the existing restaurant equipment (a detailed list is available upon request). Situated on a 0.3-acre lot, this property offers significant potential for continued success as a restaurant or for adaptation to other commercial uses. Its prime downtown location ensures high visibility and accessibility. The asking price for this turnkey operation is $240,000. This is a rare chance to acquire an established business with significant assets and strong potential for growth in a desirable location. Serious inquiries are encouraged.
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Smelk's Diner Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C1 · Freeport, MIFreeport. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.