$1,500,000
801 S LAPEER RD
Details
APN 0911477040
Property Type Retail
Sub Type Restaurant
Square Footage 6,809
NOI $178,688
Year Built 1950
Acreage 0.950
Retail | 6,809 SqFt
Marketing description
This historic restaurant offers a versatile dining experience with 6 separate dining rooms (not including the bar), ideal for hosting private parties or business meetings. Each dining room can be closed off or opened as needed, allowing for intimate gatherings or larger events. The restaurant also features a cozy downstairs gas fireplace, multiple TVs in the bar and one dining room, and an electric fireplace heater upstairs. Enjoy stunning lake views from the front dining room and patio, with the added bonus of watching fireworks during events. The property boasts patio seating with tables and a lounge area, along with one indoor and two outdoor walk-in coolers, plus a walk-in freezer. The original bar, complete with name plates from notable figures, adds charm to this historic building, enhanced by beautiful landscaping out front. Recent updates include a new fire system, updated equipment, refreshed dining rooms, new hardwood floors upstairs, a new electric fireplace heater, and some new patio furniture. With storage areas in the basement and upstairs, a projector screen for seminars, and an excellent location, this restaurant is ready to impress. This is an operating restaurant, please do not approach building or staff with any questions.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$178,688.45
$14,890.70/mo
Valuation Metrics
0
DSCR
11.91%
Cap Rate
11.91%
ROI
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