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Executive Summary

The iconic Palace Saloon, established in 1903 and located in the heart of downtown SSM, is now for sale! This well-established restaurant is known for its unbeatable atmosphere, long-standing reputation, and loyal customer base. Featuring a stunning original mahogany bar, cozy ambiance, and a full-service kitchen, the Palace serves up a beloved mix of Mexican and American cuisine — including time-honored recipes dating back over a century. Renowned for its chili con queso, expansive tequila bar, and oversized margaritas, this turn-key opportunity combines historic charm with strong financial potential. In addition to the thriving restaurant and bar, the property includes three updated rental units currently operating as Airbnb: a studio, a 1-bed, and a 3-bed apartment. A fourth space.....
offers potential for conversion into another studio unit, creating even more income opportunity. Whether you're an investor or an owner-operator, this is a rare chance to take over a successful business with multiple revenue streams in one of Northern Michigan's most visited cities.

Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
9,254 SF
Building Class
C
Year Built
1903
Price
$1,772,946 CAD
Price Per SF
$191.59 CAD
Percent Leased
100%
Building Height
3 Stories
Frontage
71’ on West Portage Avenue
Walk Score®
Very Walkable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Nicolet National Bank
Huntington National Bank
Starbucks
Tim Hortons
Montana’s BBQ & Bar
Scotiabank
RBC Royal Bank
BMO
CIBC
Td Canada Trust
  • Listing ID: 39713693

  • Date on Market: 2026-03-09

  • Last Updated:

  • Address: 200 W Portage Ave, Sault Sainte Marie, MI 49783

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