393 W Nepessing Street Lapeer, MI $ 600,000
393 W Nepessing Street
$ 600,000
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393 W Nepessing Street

Lapeer, MI, 48446
$ 600,000
Bedrooms-- Baths-- Sq 2,856

Monthly Estimate*

$ 4,144

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Commercial Property for sale in Lapeer, MI

for $600,000. This 2,856 square foot building was built in 1890 on a lot size of 0.14.

A rare opportunity to own the real estate and a fully operational, profitable restaurant in the heart of Downtown Lapeer. Villa Milano offers an established Italian restaurant and pizzeria along with its 4,184-square-foot building, creating an exceptional turnkey opportunity for an owner-operator or investor. The sale includes the business, real estate, and liquor license, allowing a new owner to step into an established operation with the infrastructure already in place. The restaurant accommodates approximately 90 guests indoors and features additional outdoor patio seating - perfect for taking advantage of downtown activity and seasonal dining. Adding tremendous versatility is a spacious 1,300+ square-foot second-floor apartment, offering potential for owner occupancy, management housing, or additional income. Located directly on W Nepessing Street in Downtown Lapeer, Villa Milano benefits from excellent visibility and convenient free public parking both in front of and behind the building. CBD-1 Central Business District zoning further enhances the property’s long-term flexibility and investment potential. Whether you’re an experienced restaurateur looking for a plug-and-play operation or an investor seeking a unique mixed-use commercial asset, Villa Milano presents the opportunity to acquire the property, business, liquor license, and an established downtown presence - all in one package.

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Commercial Active

Price

$ 600,000

Property Type

Commercial

Taxes

$ 4,671

Style

BusinessandRealEstate

Lot Size

0.14

Year Built

1890

Town/City

Lapeer

County/Region

Lapeer

MLS | Web ID

20261081044

Features
General
Sewer PublicSewer
Heating ForcedAir NaturalGas
Possession Negotiable
Garage Spaces 0.0
Construction Materials Brick
Year Built 1890
Levels Two
Property Subtype BusinessandRealEstate
Current Use Restaurant
Business Type Apartments Other Retail
County Lapeer
Net Operating Income 300000.0
Operating Expense 100000.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name CITY OF LAPEER LAPEER VILLAGE
Garage Y/N N
Status Active
Directions West of Mason St on Nepessing in Downtown Lapeer
City LapeerCity_Lapeer
Senior Community Y/N N
High School District Lapeer
Zoning Description Commercial
Number Of Units Total 2
MLS Area Area09132Lapeer
Lot Size Units Acres
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 4671.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Owner
Tax Assessed Value 100282
Expected Active Date 2026-10-06
Legal Description CITY OF LAPEER LAPEER VILLAGE PLAT SW'LY 20 FT OF NW'LY 80 FT OF LOT 16 ALSO E'LY 16 FT OF NW'LY 80 FT OF VAC FOX ST LYING ADJ THERETO (L=1 P=73 SEC 5 T7N-R10E)
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Exterior
Water Source Public
Spa N
Building Area Total 4184.0
Lot Dimensions 33 x 77
Lot Size Acres 0.14
Waterfront Y/N N
Road Frontage Type Paved
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 2856.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 393
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* Excluded Features
List By
Nicholas Sinishtaj

Listing Agent

Diplomat Realty

Broker

(586) 453-3533

Phone

Affordability Calculator

$4,533
Per Month
91%
9%
0%
Monthly Principal & Interest
$4,144
Monthly Property Taxes
$389
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
848237 Elementary School
848528 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/6/2026$600,000 Listed Price

Map


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393 W Nepessing Street, Lapeer, MI, 48446 is a Commercial Property for sale at $600,000 with 2,856 sqft and a lot size of 0.14. 393 W Nepessing Street was built in 1890. The property's zip code is 48446 which is in Lapeer, MI