1938 Grand Riv Ave Okemos, MI 48864-1702
This exceptional 9,251-square-foot restaurant building presents a prime investment opportunity in Meridian Township's bustling commercial district. Located on a hard corner across from the Meridian Mall, this high-visibility property boasts a rich history as a successful restaurant location, previously housing establishments such as The Whaling Station, Mountain Jacks, Rio Bravo, and Old Chicago. The building, constructed in 1977, sits on a 2.79-acre lot and offers ample parking for 140+ vehicles, ensuring convenient access for patrons. The property is zoned C-2, allowing for a variety of commercial uses. The building's interior is currently vacant, providing a blank canvas for a new concept or the revitalization of a classic. With a total building size of 9,251 square feet, the space offers significant potential for a large-scale restaurant or other commercial venture. The property's high-traffic location, coupled with its substantial size and parking capacity, makes it an ideal investment for entrepreneurs seeking a prominent presence in a thriving market. The property's APN is 33-02-02-22-153-003, located in Ingham County, with a cross street of Marsh Rd. Electric power is available. The previous annual rent was $245,151, translating to a monthly rent of $20,429, and a per-square-foot rate of $26.50.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2019Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Okemos, MIOkemos. 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.