112 State StFreeport, MI 49325

Property Details for 112 State St

Lot size

0.20 AC

Property size (Sq ft)

1,939 SF

Zone code

C1

Property type

Turn key restaurants

APN

08-43-350-011-00

APU

84335001100

Description

This exceptional 3,878 square foot industrial property located at 112 N State Street in the heart of Freeport, MI, presents a unique investment opportunity. Currently operating as a successful diner, Smelk's, this established business boasts seating for 54 patrons, featuring a comfortable atmosphere and a unique counter design that fosters interaction between diners and staff. The property includes a well-decorated dining area, a separate, well-equipped food preparation area, and ample storage space. Additional storage is available in the basement, along with a dedicated office. The sale includes most of the existing restaurant equipment (a detailed list is available upon request). Situated on a 0.3-acre lot, this property offers significant potential for continued success as a restaurant or for adaptation to other commercial uses. Its prime downtown location ensures high visibility and accessibility. The asking price for this turnkey operation is $240,000. This is a rare chance to acquire an established business with significant assets and strong potential for growth in a desirable location. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $178,311

  6.5%

  $164,595

  7%

  $152,838

• Comparable approach

  Method

  Valuation

  Relative Method

  $636,438

  Geo Method

  $636,438

• Alternative Use

  Use

  Valuation

  Residential

  $138,842

  Hospitality

  $127,178

  Educational

  $105,811

  Medical

  $109,450

  Retail

  $164,595

Location Insight

City

Freeport

County

Barry

State

Michigan

Latitude

42.7662

Longitude

-85.3168

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].