7221 Croton Hardy Dr Newaygo, MI 49337-7706
- Turn key restaurants
- 3,381 SF
- 0.65 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 7221 Croton Hardy Dr
- Lot size
- 0.65 lot acres
- Property size
- 3,381 SF
- Zone code
- LOCAL ZONE
- Property type
- Turn key restaurants
- APN
- 20-08-252-012
- APU
- 2008252012
Description
The Red Anchor, located at 7221 S Croton Hardy, Newaygo, MI, presents a unique opportunity to acquire a well-established and beloved community restaurant and bar. This turnkey business boasts a substantial 2,907 square foot building situated on a generous 2.63-acre lot. Currently operating five days a week, five hours a day, serving only dinner, the Red Anchor offers significant untapped potential for growth. The existing infrastructure includes a full liquor license, allowing for a diverse beverage menu and maximizing revenue streams. A spacious banquet room provides a versatile space ideal for hosting private events, weddings, corporate gatherings, and other celebrations, further enhancing income potential. The outdoor patio area offers a relaxing atmosphere for patrons to enjoy their meals and drinks. The property's prime location in the heart of Croton and Hardy Dam ensures high visibility and convenient access for customers. This is an exceptional opportunity for an experienced restaurateur or a first-time business owner looking to establish themselves in a thriving community. The current operational hours and menu offer a clear path to expansion, with opportunities to increase revenue by extending hours, adding lunch and breakfast service, or increasing the number of days open per week. The sale price is $695,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newaygo
- County
- Newaygo
- State
- Michigan
- Longitude
- -85.6478
- Latitude
- 43.4502
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
