116 Main St Buchanan, MI 49107-1455
- Turn key restaurants
- 2,894 SF
- 0.06 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 116 Main St
- Year built
- 1928
- Lot size
- 0.06 lot acres
- Property size
- 2,894 SF
- Zone code
- C-3 CEN
- Property type
- Turn key restaurants
- APN
- 58-0340-0004-06-3
- APU
- 5803400004063
Description
This exceptional mixed-use property, located at 116 N Main Street in Buchanan, Michigan, presents a rare opportunity to acquire the legendary B&W Olde Village Inn. This 2,992 square foot building, constructed in 1800, is a two-story structure situated in the heart of Buchanan's National Historic District. The property boasts a C-3 zoning designation, allowing for a variety of commercial uses. Included in the sale is a Class C/SDM liquor license (pending city issuance), all equipment and fixtures, a comprehensive security system with an Apple-connected interface, a walk-in cooler, ice machine, HD compressor, ADT cameras, a point-of-sale (POS) system, and 200-amp power. The inn features five televisions, including one large curved screen TV. The second floor offers a convenient two-bedroom apartment. The property's prime location is approximately two miles west of US-31 and two miles north of US-12, offering easy access to major transportation routes. Buchanan itself is a charming small town with a rich history, a vibrant downtown area, and access to beautiful natural resources. Its proximity to South Bend, Indiana (approximately 13 miles) and Warren Dunes State Park on Lake Michigan (approximately 12 miles) adds to its appeal. This turn-key operation is ready for a new owner to continue its legacy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $270,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $315,000
- 6.5%
- $275,000
- 7%
- $325,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $345,000
- Geo Method
- $310,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $305,000
- Retail
- $305,000
- Mixed-Use
- $290,000
- Hospitality
- $295,000
- Educational
- $270,000
- Residential Income
- $280,000
- Energy
- $280,000
- Income-Based Land
- $255,000
- Food Service
- $270,000
Location Insight
- Map
- Local Demand
- City
- Buchanan
- County
- Berrien
- State
- Michigan
- Longitude
- -86.36
- Latitude
- 41.8278
- CBSA code
- 35660
- CBSA name
- NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA