161 Pine DrGreenville, MI 48838

Property Details for 161 Pine Dr

Lot size

0.09 AC

Property type

Commercial land

APN

014-009-050-00

APU

1400905000

Description

This exceptional opportunity presents the acquisition of a thriving, family-owned restaurant in Greenville, Michigan. Boasting 13,500 square feet on a 1.63-acre lot, this single-story establishment features a stunning waterfront location with nearly 400 feet of deeded frontage on a 156-acre private lake. Built in 1978 with significant renovations completed in 2023, the property includes ample parking (4.5 spaces per 1,000 sq ft) and is zoned for commercial use (APN: 014-009-041-00 +++). The asking price is $1,800,000, representing a price per square foot of $133.33 and a pro-forma cap rate of 15.34%, yielding a pro-forma NOI of $276,197. The property's diverse income streams include a restaurant, bar, event space (comfortably seating 50 guests), and catering services, supported by a Class C liquor license, an off-premises license, and a catering license. All furniture, fixtures, and equipment are included in the sale, along with established client contacts for events and banquets. The expansive outdoor deck accommodates approximately 150 patrons, while the interior dining area seats roughly 250. The current owners are prepared to assist with a smooth transition. This turnkey operation presents a rare chance to acquire a profitable, established business with significant growth potential. The property has been prequalified with the SBA at the asking price based on the seller's financials.

• Alternative Use

  Use

  Valuation

  Residential

  $561,096

  Hospitality

  $513,961

  Educational

  $427,609

  Medical

  $442,315

  Retail

  $665,170

Location Insight

City

Greenville

County

Montcalm

State

Michigan

Latitude

43.2698

Longitude

-85.2565

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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