$2,000,000
Petoskey, MI 49770
MLS# 24046771
6200 sqft
1 / 6
Property Description
Welcome to the Southwoods pub and Grill, the premier ''GO-TO'' dining destination located in the heart of Petoskey, an upscale four-season tourist hotspot in Northern Michigan. Nestled in a competitive location fronting Spring Street (US-131 Highway), this property offers unparalleled visibility and accessibility, making it a cornerstone of the local dining scene for over 18 years. Conveniently close to local hotels, the casino, the hospital, and downtown Petoskey. Spanning 6,200 sq. ft. on a 1.2-acre lot, the interior floor plan is thoughtfully designed to accommodate a seating capacity of 140. The property includes two east-facing dining rooms, a cozy lounge area with booths, and a beautifully crafted full-service bar, perfect for hosting both locals and tourists alike.
Details
Maps
Location Property Info
County: Emmet
Street #: 1007
Street Name: Spring
Suffix: Street
State: MI
Zip Code: 49770
Area: West Central - W
OfficeContract Info
Status: Active
Current Price: $2,000,000
List Price: $2,000,000
Listing Date: 2024-09-03
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 1.21
Lot Square Footage: 52708
Lot Dimensions: irreg
Year Built: 1982
Road Frontage: 165
Year Remodeled: 2006
Total # Units: 1
# Fin Bldg Lvls: 2
Total # Bldgs: 1
Total SqFt: 6200
Property Use Type: Business
Full Baths: 4
Waterfront: No
School District: Petoskey
Tax Info
Tax ID #: 52-19-06-300-086
Taxable Value: 329509
SEV: 546900
For Tax Year: 2024
Tax Year: 2024
Spec Assessment & Type: none known
Zoning: B-3A
Remarks Misc
Directions: US-131 to Spring Street to Parking lot into Southwoods Bar & Grill.
Additional Details
Total Parking Spaces: 64
Waterfront Options
Water Access Y/N: No
Business Opportunity
# Full Time Employees: 25
# Part Time Employees: 20
Business Description: Restaurant
Gross Sales 1 Year ($): 2808773
Real Estate Value ($): 1120000
Property Features
Property Use: Business
Uses: Restaurant
Ownership: Partnership
Business Includes: Equipment; Furniture; Real Estate
Construction Type: Frame/Wood
Exterior Material: Brick; Vinyl Siding
Roofing: Composition
Foundation: Brick/Mortar
Below Grade: Basement
Additional Features: Bath Common Area; Fire Sprinkler
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at St: Cable Available; Electricity Available; Natural Gas Available; Phone Available
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Asphalt
Street Type: Paved
Purchase Terms Avail: Cash; Conventional
Docs Req Conf Agrmnt: Appraisals; Demographics; Financials
Sale Conditions: None
Possession: Negotiable
Supplements
Adequate onsite parking ensures convenience for your patrons, while the well-designed layout offers room for future expansion, should you choose to grow this thriving business. With 45 well-trained, long-term employees, the restaurant delivers a consistent, high-quality dining experience that keeps customers coming back year after year. Whether you're looking to continue the legacy of Southwoods Family Restaurant or explore new business opportunities, this property offers a rare chance to own a successful, established business in a thriving tourist community. The combination of prime location, recent renovations, and strong local and tourist following makes this a standout investment opportunity in Northern Michigan. Seize the opportunity to own a piece of Petoskey's vibrant dining scene and capitalize on the growing demand for high-quality dining experiences in this picturesque and prosperous region.
Listing Office: Century 21 White House Realty
Listing Agent: Tom Garner
Last Updated: March - 18 - 2025
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
