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    Property profile & analytics

    115 East State Street Fife Lake, MI 49633

    • Turn key restaurants
    • 968 SF
    • 0.14 lot acres
    For Sale
    View listing
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2047640
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Loon's Nest / Restaurant

    Property Details for 115 East State Street

    Lot size
    0.14 lot acres
    Property size
    968 SF
    Property type
    Turn key restaurants
    APN
    41-070-069-10
    APU
    4107006910

    Description

    This exceptional turnkey restaurant opportunity in the charming historic village of Fife Lake, Michigan presents a unique chance to acquire a well-established business with significant upside. Located at 115 E State St, Fife Lake, MI 49633, this 1,136 square foot property is offered at $350,000 ($308.10/sq ft). The restaurant has served the community for decades, building a loyal customer base known for its delicious breakfast menu and baked goods, creating a friendly atmosphere for both locals and tourists. The sale includes the real estate, building, equipment, inventory, and much of the vintage décor. Currently operating as a breakfast-only establishment, there's substantial potential for revenue growth by expanding to lunch and dinner service, leveraging the existing two pizza ovens. This is a private owner sale, offering a seamless transition for the new owner. The property is situated in Grand Traverse County and enjoys a prime location within the village. This is a rare opportunity to own a thriving business with a strong foundation and significant room for expansion in a desirable Michigan community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fife Lake
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.3492
    Latitude
    44.5767
    CBSA code
    45900
    CBSA name
    TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,306
    $0.00
    $0.00
    $68,500
    -
    $0.00
    $0.00
    $144,356

    Comparable in this City

    • Value Estimation by Request
      2,830 SF

      203 State St

      RESTAURANT • 2,830 SF
      203 State St, Fife Lake, MI 49633-5118
      View Details
    • Value Estimation by Request
      2,477 SF

      108 State St

      RESTAURANT • 2,477 SF
      108 State St, Fife Lake, MI 49633-5103
      View Details
    • Value Estimation by Request
      440 SF

      211 State St

      DRIVE-THRU RESTAURANT, FAST FOOD • 440 SF
      211 State St, Fife Lake, MI 49633-5118
      View Details
    • Value Estimation by Request
      14,960 SF

      620 Boyd St

      GROCERY, SUPERMARKET • 14,960 SF
      620 Boyd St, Fife Lake, MI 49633-9333
      View Details
    • Value Estimation by Request
      8,424 SF

      621 Boyd St

      DEPARTMENT STORE • 8,424 SF
      621 Boyd St, Fife Lake, MI 49633-9333
      View Details
    • Value Estimation by Request
      5,760 SF

      11600 4th Seasons Ln

      AUTO REPAIR, GARAGE • 5,760 SF
      11600 4th Seasons Ln, Fife Lake, MI 49633-9098
      View Details

    Similar Nearby for Sale

    • $350,000
      1,136 SF

      Fife Lake Restaurant - Turnkey Business

      Established Restaurant, Great Potential, Prime Location
      115 East State Street, Fife Lake, MI 49633
      View Details
    • $849,000
      6,500 SF

      Historic Restaurant with Living Quarters

      Restored restaurant with dining, bar, patio, house, and apartment.
      12397 M-66, Fife Lake, MI 49633
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    • $250,000

      Commercial Land with Highway Frontage

      1.67 acre commercial development parcel with highway frontage.
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    • $250,000
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      Commercial Land with Highway Frontage

      1.67 acre commercial parcel with highway frontage in Fife Lake.
      7499 Us-131, Fife Lake, MI 49633
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    • $37,000
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      Vacant Wooded Lot in Fife

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    • $59,900
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      10 acres of secluded land, perfect for building or hunting.
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    115 East State Street
    Fife Lake, MI 49633
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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