Entity Owned 
For Sale
1 / 17
$2,650,000
971 W Savidge St, Spring Lake, MI 49456
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Property summary
AI-generated overview
The property is a restaurant and bar facility situated on a waterfront setting within the Village of Spring Lake, located at the west end of the primary commercial corridor at M-104/Savidge Street, near multiple marinas and residential condominium hospitality developments. The site covers approximately 2+ acres and includes 90+ parking spaces. The existing building was constructed in 1997 and is associated with the original location of Ole' Boys Brewhouse, which operated for 25 years. The premises includes a full kitchen and a dedicated bar area, with indoor seating for 260 guests and an outdoor deck area designed for 150 seats. The property also includes Resort Class-C liquor licensing and a Brew Pub license, supporting restaurant-bar service in a high-visibility tourism environment.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1997
Total area
6,766 SF
Lot
2.24 ac (97,749 SF)
Zoning code
CBD-PUD
APN
70-03-16-476-018
UPID
US43-2235094
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
-
Park
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$495k
Owner & transaction history
since 2026
5 recorded transactions
Zoning & alternative use
CBD-PUD · Spring Lake, MI
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$495k
Value range
$446k – $545k
±10% around blend
Estimated value / SF
$73 / SF
Confidence
Property data
100
Comparable evidence
60
Income certainty
100
$446k
blend $495k
$545k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,766 SF
Lot area
2.24 ac
Year built
1997
Stories
1
APN
70-03-16-476-018
Zoning
CBD-PUD
Assessed value
$505,500
Annual tax
$27,384
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$27,384
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$495k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
2.94%
Selected cap rate for this turn key restaurants
Derived from the Spring Lake market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$78k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.65M
Move the market yield to see immediate price impact.
Value / SF
$391
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.44%2.94%3.44%
$70k
$2.87M
$2.38M
$2.04M
$78k
$3.19M
$2.65M
$2.26M
$86k
$3.51M
$2.91M
$2.49M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$27,384
Tax year 2022
Assessed value
$505,500
Assessed 2023
Previous assessed
$505,500
+0.0% YoY
Effective rate
5.42%
On assessed value
Total market value
$1,011,000
Applied tax rate
7.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1997
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
6,766 SF
Lot
2.24 ac (97,749 SF)
Zoning code
CBD-PUD
APN
70-03-16-476-018
UPID
US43-2235094
Jurisdiction
OTTAWA
Zoning & alternative use
CBD-PUD · Spring Lake, MIZoning CBD-PUD · permitted uses
CBD-PUD · Spring Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1997
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
2.24 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CBD-PUD
Jurisdiction
Spring Lake, MI
Recorded code
CBD-PUD
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD-PUD in Spring Lake, MI.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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