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    Property profile & analytics
    OFF-MARKET
    Commercial real estate

    7467 Houghton Lk Rd, Merritt, MI 49667-9786

    3.97 ac lot Built 1955
    Entity Owned 17-yr Hold Free & Clear
    Property ID
    US43-2999335
    Property summary
    AI-generated overview

    This exceptional business opportunity presents the chance to own the well-established Merritt Auction House, a community staple situated on a high-visibility corner lot (almost 4 acres) at the intersection of M-55 and S. Merritt Rd in Merritt, MI. The property boasts over 4,144 square feet of versatile space, currently configured as a restaurant and auction house. The sale includes all existing contents, encompassing tables, chairs, and a fully equipped kitchen. A significant advantage is the inclusion of both a liquor license and a to-go license, streamlining operations. The building features a spacious dining area, a bar, separate men's and women's restrooms, a recreation area complete with a pool table, and three convenient public entrances, plus a private kitchen entrance. The property's zoning allows for expansion, with pre-approved plans for a gas station or convenience store. The existing septic system has been updated and is capable of supporting a substantial expansion to accommodate a gas station or truck stop in addition to the existing restaurant and bar. A land contract option is available for qualified buyers. This turnkey operation offers a unique blend of established business and significant expansion potential in a prime location.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1955
    Lot 3.97 ac (172,759 SF)
    APN 006-032-004-00
    UPID US43-2999335
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Merritt Auction House Bar and Grill/Corner Restaurant Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Garrett Land Investments LLC · 17 yrs held
    Garrett Land Investments LLC
    since 2008
    2 recorded transactions
    2008
    $100,000
    2008
    $100,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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