Property profile

217 S Lafayette St Greenville, MI 48838

FOR SALE
Commercial real estate
Property ID
US43-2956011
0.06 ac lot
Entity Owned 5-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional turnkey business opportunity presents a fully remodeled tavern located at 217 S Lafayette in the vibrant city of Greenville, MI. The 2,550 square foot building sits on a 0.07-acre lot and is priced at $599,990. A complete renovation was undertaken in 2021, resulting in a modern and efficient space. The fully equipped kitchen boasts new coolers and equipment, ensuring seamless operations. The bar features a centralized CO2 system for its beer tap systems, enhancing efficiency and reducing maintenance. A significant advantage lies in the potential for substantial additional income generation. The upper level offers space for two apartments, situated within the historical zone. This presents a unique opportunity to leverage potential funding programs for complete rehabilitation. Interested parties should contact the Greenville Chamber of Commerce for details regarding available funding programs and eligibility requirements. This property offers a rare blend of established business operations and significant upside potential, making it an ideal investment for savvy entrepreneurs seeking a profitable venture in a thriving community. The existing tavern provides immediate cash flow, while the apartment potential offers a pathway to further expand revenue streams. This is a truly unique opportunity to acquire a well-established business with significant growth potential. Don't miss this chance to own a piece of Greenville's thriving commercial landscape.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.06 ac (2,744 SF)
APN 052-142-060-00
UPID US43-2956011

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
  • Restaurant

Location

217 S Lafayette St Greenville, MI 48838
Greenville metro Census 971300 GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$95k

Owner & transaction history

since 2021
Last sale
$94,000
2 recorded transactions
2021
Price N/A
2021
$94,000

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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